Neoliberal policies
Definition
Neoliberal policies refer to economic strategies that prioritize free markets, limited government intervention, and deregulation. These policies aim to promote economic growth and development through the privatization of industries and reduction of social welfare programs.
Analogy
Think of neoliberal policies as a smartphone app store. Just like how you have the freedom to choose and download various apps based on your needs and preferences, neoliberal policies allow for individuals to have more choice and competition in the market.
Related terms
Austerity measures: Policies that involve reducing government spending, increasing taxes, or both, usually implemented during economic downturns.
Deregulation: The removal or relaxation of government regulations on businesses and industries.
Privatization: The transfer of ownership or control of a public sector entity to private owners or investors.
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