Word
neoliberalism
Meanings
A political and economic ideology that promotes free markets, deregulation, privatization, and lower government involvement in the economy.
A set of policy reforms based on market competition, such as cutting regulations, selling state-owned companies, and opening economies to global trade.
Definition
Neoliberalism is a political and economic approach that favors free markets, deregulation, and a reduced role for the state in the economy.
Neoliberalism is an ideology that argues markets should organize most economic activity, with limited government intervention. It typically supports privatization of public services, deregulation of industries, and free trade. Supporters say it boosts efficiency and growth, while critics say it can increase inequality and weaken public institutions.
Examples
- In her thesis, she argues that neoliberalism reshaped urban planning by treating housing primarily as an investment.
- After the debate, I realized how differently people define neoliberalism depending on their experience of public services.
- The documentary traces neoliberalism through privatization campaigns and the growing influence of corporate lobbying.
- They criticized neoliberalism for narrowing policy choices to what seems efficient rather than what seems fair.
Common mistake
Learners often use neoliberalism as a vague synonym for any capitalism, but it more specifically refers to market-oriented reforms like deregulation and privatization.
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