NEOLIBERALISM Meaning and
Definition
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Neoliberalism is an ideological and economic philosophy that promotes free-market capitalism and limited government intervention in the economy. It emerged as a response to the perceived failures of Keynesian economics and the increasing influence of the state in economic affairs during the mid-20th century.
At its core, neoliberalism emphasizes the importance of individual freedom and autonomy, emphasizing that individuals should be free to pursue their economic interests without excessive regulation or control. It advocates for deregulation, privatization of public services, and reduced government spending to stimulate economic growth and efficiency.
Neoliberalism stands on the belief that open markets and competition are the most effective mechanisms for promoting economic growth, innovation, and efficiency. It argues that through market forces, resources are allocated more efficiently and respond to supply and demand dynamics. Supporters argue that this approach leads to increased wealth, improved living standards, and lower prices for consumers.
Critics of neoliberalism argue that its focus on profit maximization and monetizing social and public goods results in inequality, social injustice, and environmental degradation. They believe that it reinforces and exacerbates existing power imbalances, concentrates wealth among the elite, and erodes public services.
Overall, neoliberalism is a complex and controversial concept encompassing economic, political, and social dimensions. Its interpretation and application may vary depending on historical, regional, and cultural contexts.
Common Misspellings for NEOLIBERALISM
- beoliberalism
- meoliberalism
- jeoliberalism
- heoliberalism
- nwoliberalism
- nsoliberalism
- ndoliberalism
- nroliberalism
- n4oliberalism
- n3oliberalism
- neiliberalism
- nekliberalism
- nelliberalism
- nepliberalism
- ne0liberalism
- ne9liberalism
- neokiberalism
- neopiberalism
- neooiberalism
- neoloberalism
- neolibrealism
- neolibialism
- newlibrealism
Etymology of NEOLIBERALISM
The word "neoliberalism" is a combination of "neo" and "liberalism".
The term "liberalism" originated in the 17th century and was associated with the belief in individual rights, limited government intervention, and free markets. In different historical contexts, liberalism has taken on various meanings and connotations.
The prefix "neo" means "new" or "revived", indicating a contemporary variation or adaptation. In the case of "neoliberalism", it refers to a revived or updated form of liberalism that emerged in the mid-20th century.
The term "neoliberalism" began to be used more prominently in the 1970s and 1980s to describe an economic, political, and social ideology that advocated for free markets, limited government intervention, deregulation, and globalization.
Similar spelling word for NEOLIBERALISM
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