What is Neoliberalism?
'''Neoliberalism''' is a term for different [[social]] and [[economy|economic]] [[idea]]s. There is no agreed definition.<ref>{{Cite web|last=Mudge|first=Stephanie|date=26 August 2008|title=What is neo-liberalism?|url=https://academic.oup.com/ser/article/6/4/703/1739555?login=false|access-date=2023-11-11|website=academic.oup.com}}</ref> Originally the term was used by a group of [[liberal]]s who helped shape social [[market economy]] in the mid [[20th century]]. Classic liberalism is characterized by [[free market]] trade, [[deregulation]] of financial markets, [[mercantilism]] and the shift away from state [[welfare]] provision. [[Alexander Rüstow]] was the first economist to develop this concept, looking after a [[Social democracy|Social Democracy]] system rather than a Laissez Faire Capitalist Society. == Characteristics of Neoliberalism == In the application of neoliberal ideals, the [[state]] might also intervene and regulate, for example, to prevent exploitation, or to ensure social fairness and equality. Neoliberalism is against the protection of group - rather than individual - interests, for example, that might be achieved through [[lobbying]] of [[group]]s, or state interventions that protect national interests via [[tariff]]<nowiki/>s or [[subsidy|subsidies]]. Neoliberalism has moved away from a centrally governed economy. == Contemporary use == Since the 1990s the term has been consistently used in academia to imply the move from [[welfare state]] to [[laissez faire]] economic management, particularly associated with the promotion of free market ideals in the 1980s by [[Margaret Thatcher]] in the [[UK]] and [[Ronald Reagan]] in the [[US]]. == Examples of neoliberal regimes of Government == * [[Chile]] under [[Augusto Pinochet]] * [[Argentina]] under [[Mauricio Macri]] * [[Great Britain]] under [[Margaret Thatcher]] * [[New Zealand]] under [[David Lange]] * The [[United States of America]] under [[Ronald Reagan]] attempted to establish this but never did. * [[Australia]] under [[Bob Hawke]] a