Neoliberalism

Home > Economics > Economic history > Neoliberalism

An economic philosophy that emphasizes free markets, deregulation, and reduced government intervention in the economy.

Quote: "it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending"
Quote: "late-20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War"
Quote: "advocated by conservative and right-libertarian organizations, political parties, and think tanks"
Quote: "the perceived failure of the post-war consensus and neo-Keynesian economics to address the stagflation of the 1970s" and "the collapse of the USSR and the end of the Cold War"
Quote: "neoliberalism emerged among European liberal scholars during the 1930s as they attempted to revive and renew central ideas from classical liberalism as they saw these ideas diminish in popularity"
Quote: "policies designed with the intention to counter the volatility of free markets"
Quote: "increase the role of the private sector in the economy and society"
Quote: "associated with Augusto Pinochet's economic reforms in Chile, it quickly acquired negative connotations and was employed principally by critics of market reform and laissez-faire capitalism"
Quote: "Mont Pelerin Society economists Friedrich Hayek, Milton Friedman, Ludwig von Mises and James M. Buchanan, along with politicians and policy-makers such as Margaret Thatcher, Ronald Reagan, and Alan Greenspan"
Quote: "some scholars reject the idea that neoliberalism is a monolithic ideology"
Quote: "neoliberalism has mutated into multiple, geopolitically distinct hybrids as it propagated around the world"
Quote: "with the passage of NAFTA... the term entered global circulation"
Quote: "scholarship on the phenomenon of neoliberalism has grown over the last few decades"
Quote: "desire to avoid repeating the economic failures of the early 1930s"
Quote: "the new meaning of neoliberalism became established as a common usage among Spanish-speaking scholars"
Quote: "economic failures of the early 1930s, failures sometimes attributed principally to the economic policy of classical liberalism"
Quote: "reductions in government spending"
Quote: "neoliberalism shares many attributes with other concepts that have contested meanings, including representative democracy"
Quote: "it quickly acquired negative connotations and was employed principally by critics of market reform and laissez-faire capitalism"
Quote: "the triumph of neoliberalism in the United States and around the world"