The term neoliberalism refers to the political reappearance that is associated with free-market capitalism. It relates to the market reform policies such as eliminating price controls, lowering trade barriers, deregulating the capital market, privatization, and state influence on the economy.
Neoliberalism is the economic philosophy that encourages diversion from government ownership. The two schools for neoliberalism are the Austrian school and the Chicago school, the two most prominent schools of thought.
the efficiency of market operations depends upon the specific policies that characterize neoliberalism which is also similar to the term liberalism.
The concept of neoliberalism is now practiced on a global level and such measures are supported by it like bailing out the company in financial distress. Thus, neoliberalism is related to typical policies like free trade, globalization, and privatization.
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