Neoliberalism
Neoliberalism
Neoliberalism (pronounced: /ˌniːoʊˈlɪbərəlɪzəm/) is a political and economic ideology that advocates for the increased role of the private sector in the economy and society at the expense of public sector services.
Etymology
The term "neoliberalism" is derived from the root words "neo-", meaning new, and "liberalism". The latter term originally referred to a political philosophy that emphasized individual freedoms and limited government, but in the context of neoliberalism, it refers to economic liberalism, which advocates for free trade, open markets, and deregulation.
Related Terms
- Free Market: An economic system in which prices are determined by unrestricted competition between privately owned businesses.
- Deregulation: The process of removing or reducing state regulations, typically in the economic sphere.
- Privatization: The transfer of ownership, property or business from the government to the private sector.
- Capitalism: An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
- Globalization: The process by which businesses or other organizations develop international influence or start operating on an international scale.
See Also
External links
- Medical encyclopedia article on Neoliberalism
- Wikipedia's article - Neoliberalism
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