neoliberalism
Noun: A political and economic ideology that emerged in the mid-20th century, advocating for free-market capitalism, deregulation, privatization, reduced government spending, and free trade. It blends classical liberal concerns for individual liberty and limited government with a modern emphasis on economic growth and global market integration.
The term is used primarily in academic, political, and economic discourse to describe a dominant policy framework. * Neoliberalism became the prevailing economic doctrine in many Western nations during the 1980s. * Critics argue that neoliberalism increases inequality. * The policies of privatization and deregulation are central tenets of neoliberalism.
- As a modifier: The term is often used adjectivally to describe policies, reforms, or eras.
- The country underwent a series of neoliberal reforms.
- We are living in a neoliberal era of globalization.
- Neoliberal (adjective): Pertaining to neoliberalism.
- Neoliberal policies emphasize free trade.
- Neoliberal (noun): An advocate of neoliberalism.
- He is a neoliberal who supports deregulation.
This term is almost exclusively used in the socio-economic-political context defined above. It does not have common alternative meanings in general usage.
- Free-market ideology
- Market fundamentalism (often used critically)
- Economic liberalism
- Socialism
- Keynesianism
- Protectionism
- State interventionism
- "The neoliberal consensus": Refers to the widespread acceptance of neoliberal policies among major political parties and institutions during the late 20th and early 21st centuries.
- The neoliberal consensus shaped global economic institutions like the IMF.
-
a political orientation originating in the 1960s; blends liberal political views with an emphasis on economic growth
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