Neoliberalism
Neoliberalism is an altered version of liberalism. It is a model for social and economic policies that transfers economic interests to the private sector from the public sector.
Background
This model favors a laissez-faire approach to economic development. Neoliberalism has been used by many critics, analytics, and historians stemming from economic liberalism that occurred in the 19th century. It was first coined at a meeting in Paris by Ludwig von Mises and Friedrich Hayek who were two delegates used to name ideologies and were both exiled from Austria. The term really became popular in the 1970s in the U.S. The term supports deregulation, free trade, privatization, and reduced government spending.
Uses in other disciplines
Neoliberalism is also used in economics and history to describe how different countries ran the economics of their government.
See also
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References
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