Neoliberalism

Definition

Neoliberalism is an ideology that emphasizes free markets, limited government intervention in the economy, privatization, deregulation, and individual freedom as key drivers for economic growth and development.

Related terms

Globalization: The increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas.

Capitalism: An economic system based on private ownership of resources and the pursuit of profit through market competition.

Welfare State: A system in which the government provides social programs and support to ensure the well-being of its citizens.