neoliberalism

/ˌniːoʊˈlɪbərəlɪzəm/ /ˌniːəˈlɪbərəlɪzəm/

Meanings

noun

A political ideology or ideological trend based on neoclassical economics that espouses economic liberalism, favouring trade liberalisation, financial deregulation, a small government, privatisation and liberalisation of government businesses, passive antitrust enforcement, accepting greater economic inequality and disfavouring unionisation.

Examples :

"The country's shift towards neoliberalism led to the privatization of schools and hospitals, resulting in lower taxes but also increased costs for healthcare and education. "

noun

The ideology associated with the New Democrats and the Democratic Leadership Council.

Examples :

"The Democratic party's shift towards neoliberalism in the 1990s involved embracing policies like free trade agreements and deregulation. "

politics government doctrine philosophy economy state

Related Words

liberalism noun

/ˈlɪbərəlɪzəm/ /ˈlɪbrəlɪzəm/

The quality of being liberal.

"My sister's liberalism about dress codes at school impressed me. "

government noun

/ˈɡʌvə(n)mənt/ /ˈɡʌvɚ(n)mənt/

The body with the power to make and/or enforce laws to control a country, land area, people or organization.

"The government decided to raise taxes to fund new schools. "

enforcement noun

/ɪnˈfɔːrsmənt/ /ɛnˈfɔːrsmənt/

The act of enforcing; compulsion.

"Strict enforcement of the school's dress code is necessary to maintain order. "

neoclassical noun

/ˌniːoʊˈklæsɪkəl/ /ˌniːəˈklæsɪkəl/

Clipping of neoclassical economist.

"The professor challenged the neoclassical's assumption that people always act rationally in their financial decisions. "

privatisation noun

/ˌpraɪvətɪˈzeɪʃən/ /ˌpɹaɪvətaɪˈzeɪʃən/

The transfer of a company or organization from government to private ownership and control.

"The privatisation of the national train company led to increased fares for passengers. "

disfavouring verb

/dɪsˈfeɪvərɪŋ/ /dɪsˈfeɪvərɪŋ/

To show lack of favour or antipathy towards.

"Her past performance meant that she was often disfavoured for important tasks."

inequality noun

/ˌɪnɪˈkwɒlɪti/

An unfair, not equal, state.

"The inequality in pay between men and women doing the same job is a serious problem. "

deregulation noun

/diːˌreɡjʊˈleɪʃən/ /diːˌreɡjəˈleɪʃən/

The process of removing constraints, especially government-imposed economic regulation.

"Some say the airline industry has not been profitable since Ronald Reagan began deregulation."

ideological adjective

/ˌaɪdiəˈlɑdʒɪkəl/ /ˌɪdiəˈlɑdʒɪkəl/

Of or pertaining to an ideology.

"The teacher's ideological stance on education influenced her classroom methods. "

liberalisation noun

/ˌlɪbərəlɪˈzeɪʃən/ /ˌlɪbrəlɪˈzeɪʃən/

The process or act of making more liberal.

"The liberalisation of the school's dress code, allowing students to wear more casual clothes, was welcomed by the students. "

privatization noun

/ˌpraɪvətəˈzeɪʃən/ /ˌpɹaɪvətaɪˈzeɪʃən/

The transfer of a company or organization from government to private ownership and control.

"The city planned the privatization of the public bus system, hoping it would become more efficient under private management. "

businesses noun

/ˈbɪz.nɪ.sɪz/

A specific commercial enterprise or establishment.

"Many small businesses in my town are struggling due to the rising cost of rent. "