Neoliberalism is an economic ideology that emphasizes free markets, limited government intervention, and individual freedom as the keys to economic development. It promotes deregulation, privatization, and globalization.
Related terms
Free Market: A system where prices are determined by supply and demand, with minimal government intervention.
Deregulation: Removing or reducing government regulations on businesses in order to promote competition and efficiency.
Privatization: The transfer of ownership or control of a business or industry from the government to private individuals or companies.