Neoliberalism

Neoliberalism refers to a political-economic philosophy that has had major implications for government policies beginning in the 1970s – and increasingly prominent since 1980 – that de-emphasizes or rejects government intervention in the economy (that complements private initiative), focusing instead on achieving progress and even social justice by encouraging free-market methods and fewer restrictions on business operations and economic development. Supporters argue that by implementing business-friendly policies, a society can assure that its businesses grow, creating jobs and other economic benefits which improve the welfare of the entire economy. This is commonly referred to as 'trickle down economics' or 'Reaganomics.' Detractors tend to think that government intervention is necessary to create an equitable society.

Related Topics:
1970s - 1980 - Social justice - Free-market

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It can be contrasted with economic nationalism, fair trade and anti-capitalism, three different alternatives to neoliberalism.

Related Topics:
Economic nationalism - Fair trade - Anti-capitalism

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The term "neoliberalism" has also been used in a theological sense as a drive to deliberately modify the beliefs and practices of the church (especially evangelical) to conform to cultural post-modernism. This entry concerns only political-economic neoliberalism.

Related Topics:
Church - Evangelical - Post-modernism

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