Neoliberalism
Created: 2021-07-02
Forest status: #soil
Last Edited: 2022-12-17
Topics: politics economics philosophy
What is Neoliberalism?
- Neoliberalism::: an economic and political ideology that advocates for free markets, limited government intervention in the economy, and privatisation of public services and assets. #anki #flashcards/economics
- Neoliberal policies focus on deregulation of industry, privatisation of state-run services, and cutting taxes while decreasing government spending.
What Are the Origins of Neoliberalism?
- The philosophy of neoliberalism emerged in the mid-20th century from the work of economists such as Friedrich Hayek and Milton Friedman, who sought to challenge the Keynesian economic policies of the time.
- It has been the dominant economic ideology in many countries since the 1980s, including the United States.
What Are the Consequences of Neoliberalism?
- These policies have resulted in increased inequality, weakened labour rights, and a decrease in social safety nets. Neoliberalism also emphasises international trade agreements such as NAFTA, which have resulted in greater global economic integration.