The Complete Vocabulary Builder Workbook

neoliberal

IPA:

Dictionary definition of neoliberal

An advocate or supporter of free-market capitalism, deregulation, and reduction in government spending.
"The neoliberal approach has been credited with promoting economic growth."

Detailed meaning of neoliberal

It emerged in the late 20th century as a response to the failures of Keynesian economics and the perceived inefficiencies of the welfare state. Neoliberals believe that the market is the most efficient mechanism for allocating resources and that the role of government should be limited to ensuring a level playing field for market participants. This often involves reducing regulation, cutting taxes, and reducing public spending on social services. Neoliberalism has been widely adopted by governments and international organizations such as the International Monetary Fund (IMF) and the World Bank, and has been a significant influence on global economic policy for several decades.

Example sentences containing neoliberal

1. Neoliberal policies have led to the privatization of many public services.
2. The neoliberal agenda emphasizes free markets and limited government intervention.
3. Neoliberal economists argue that deregulation promotes economic growth.
4. Critics of neoliberalism believe it exacerbates income inequality.
5. The neoliberal model of capitalism favors market-driven solutions over state intervention.
6. Neoliberal globalization has increased the mobility of capital and goods across borders.

History and etymology of neoliberal

The noun 'neoliberal' has its etymological roots in the term 'liberal,' but with a distinct modern twist. It emerged in the mid-20th century as a response to traditional liberal economic and political ideologies. 'Neoliberal' is formed by adding the prefix 'neo-,' meaning 'new' or 'revived,' to 'liberal.' Neoliberalism represents a revival or modification of classical liberal economic principles that emphasize free-market capitalism, deregulation, and a reduction in government intervention and spending. It gained prominence in the latter half of the 20th century as a response to Keynesian economics and the perceived limitations of government intervention in the economy. The term 'neoliberal' highlights the evolution of liberal economic thought toward a renewed emphasis on market forces and limited government involvement, making it a distinctive ideology within the broader spectrum of political and economic beliefs.

Quiz: Find the meaning of the noun neoliberal:

answer1

answer2

answer3

answer4

Try Again!

Correct!

Continue Quiz

Further usage examples of neoliberal

1. Many developing countries have embraced neoliberal reforms in hopes of attracting foreign investment.
2. Neoliberalism has been blamed for the financial crises of the late 20th and early 21st centuries.
3. The neoliberal ideology prioritizes individual choice and consumerism.
4. Neoliberal policies often result in the erosion of worker rights and protections.
5. The rise of neoliberalism has coincided with the decline of labor unions.
6. Neoliberal austerity measures have led to cuts in social spending and welfare programs.
7. Neoliberal thinkers argue that reducing government regulations encourages entrepreneurship.
8. The neoliberal approach to education emphasizes competition and market-based reforms.
9. Neoliberal trade agreements prioritize the interests of multinational corporations.
10. Neoliberalism has been criticized for undermining democratic decision-making processes.
11. The influence of neoliberal economic theories can be seen in international development policies.
12. Neoliberalism has shaped the thinking of many policymakers and politicians around the world.
13. The neoliberal ideology views economic growth as the primary driver of human progress.
14. The neoliberal paradigm has faced growing opposition from social justice movements.