Neoliberalism[1] is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. [2][3][4] The term has multiple, competing definitions, and is most often used pejoratively. [5][6] In scholarly use, the term is often left undefined or used to describe a multitude of phenomena. [7][8][9] However, it is ...
neoliberalism, ideology and policy model that emphasizes the value of free market competition. Although there is considerable debate as to the defining features of neoliberal thought and practice, it is most commonly associated with laissez-faire economics. In particular, neoliberalism is often characterized in terms of its belief in sustained economic growth as the means to achieve human ...
Discover what neoliberalism means, its real-world examples, advantages, and drawbacks. Learn how it impacts economic policies and society.
After outlining some inadequate characterizations of neoliberalism, this entry critically discusses neoliberal attitudes towards liberalism, capitalism, democracy, and the welfare state, and ends with a discussion of common criticisms.
Defining Neoliberalism as a Political-Economic Ideology Neoliberalism is a political-economic ideology that centers on the conviction that free markets, private enterprise, and competition are the primary drivers of human well-being and prosperity . In broad terms, neoliberals argue that society functions best when businesses and individuals operate with minimal government interference, within ...
Neoliberalism is a political and economic policy model that emphasizes the value of free market capitalism while seeking to transfer control of economic factors from the government to the private sector. Also incorporating the policies of privatization, deregulation, globalization, and free trade, it is commonly—though perhaps incorrectly—associated with laissez-faire or “hands-off ...