Neoliberalism
Neoliberalism is a political and economic philosophy that emphasizes free trade, deregulation, globalization, and a reduction in government spending. It is essentially an intentionally imprecise stand-in term for free market economics, economic sciences in general, conservatism, libertarians, and anarchists. Neoliberalism involves the belief that greater economic freedom leads to greater economic and social progress for individuals, supporting free enterprise, competition, deregulation, and the importance of individual responsibility. It is also associated with opposition to the expansion of government power, state welfare, and inflation, as well as minimizing government control of industry and boosting private sector ownership of business and property.
Neoliberalism has been the subject of substantial scholarly debate, with various interpretations and definitions. Some scholars view it as an ideology that fetishizes the market, while others see it as a political program aimed at establishing the rule of the capitalist class. Neoliberalism is often associated with a reduction in the role of the state in managing the economy and meeting public needs, favoring obstacles to the free exchange of goods and labor.
Critics of neoliberalism argue that it can be anti-democratic, lead to exploitation and social injustice, and criminalize poverty. The term "neoliberalism" was coined at a meeting in Paris in 1938, and it has evolved over time to become a defining characteristic of human relations, redefining citizens as consumers and emphasizing competition as a fundamental aspect of human interaction.
