Neoliberal Policies
Definition
Neoliberal policies refer to economic policies that emphasize free markets, limited government intervention, deregulation, privatization, and reduced welfare state provisions. They are often associated with laissez-faire capitalism.
Analogy
Think of neoliberal policies as a smartphone app store where developers have more freedom to create apps without strict regulations. Similarly, neoliberal policies allow businesses to operate with fewer restrictions from the government.
Related terms
Globalization: The increasing interconnectedness and interdependence among countries through trade, communication, and cultural exchange.
Deregulation: The removal or relaxation of government regulations on various sectors such as finance or industry.
Privatization: The transfer of ownership or control of public services or assets from the government to private entities.
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