neoliberal reforms
Free-market policy shifts
Neoliberal reforms are policy changes that reduce government intervention in the economy—privatizing state enterprises, deregulating industries, cutting public spending, and opening markets to foreign trade and investment.
The term emerged in the late 20th century as such policies spread globally, often promoted by international lending institutions: The IMF required neoliberal reforms as a condition for the loan.
Critics use the phrase pejoratively to blame market-oriented policies for inequality and weakened social programs.
- free marketCommerce without state intervention
- income inequalityDisparity in earnings distribution
- safety netProtection against failure
- privatizationState sells public assets
- deregulationRemoving governmental business restrictions
Washington Consensus · shock therapy · fiscal austerity · foreign investment · healthcare privatization · trickle down · tax cuts · unemployment rates · competitive markets · IMF · debt crisis · Milton Friedman · migration patterns · austerity measures
- ArgentinaBuenos Aires, tango, Messi, Patagonia, mate
- VenezuelaCaracas, Simon Bolivar, arepa, Bolivar, cuatro
neoliberal reformssocialism
Communal economic control
state socialism · central planning · command economy · planned economy · Keynesianism
neoliberal reformsnationalization
Government acquisition of industry
renationalization · central planning · command economy · protectionism · import substitution
neoliberal reformseconomic nationalism
Favoring domestic over foreign commerce
neoliberal, reform, liberal, liberalism, liberalize, liberalization, liberty, liberate, liberation