noun
- a political and economic philosophy that favors free-market capitalism, deregulation, and reduced government spending on social programs
Usage: political science; economics
Examples
- Critics argue that neoliberalism has increased income inequality.
- The government’s neoliberalism policies included privatizing state-owned companies.
- Many economists debate the effects of neoliberalism on developing countries.
- The rise of neoliberalism in the 1980s changed global economic policy.
- Opponents of neoliberalism call for stronger government regulation of markets.
- Neoliberalism emphasizes individual responsibility over collective welfare programs.