neoliberalism
/ˌnioʊˈlɪbərəlɪzəm/
noun
- An economic and political system that supports free markets, privatization, and reducing government control over businesses and trade.
- Under neoliberalism, governments often reduce spending on public services like healthcare and education.
- Critics argue that neoliberalism increases inequality by favoring large corporations over workers.
- Many countries adopted neoliberalism in the 1980s, cutting taxes and selling state-owned companies.
- A set of ideas or policies that emphasize individual responsibility and competition over collective welfare.
- The school's new funding model reflects neoliberalism by tying resources to student test scores.
- Some activists blame neoliberalism for the decline of community programs and social safety nets.
- Neoliberalism encourages people to see themselves as entrepreneurs of their own lives.