What does neoliberal mean?
Neoliberal describes a political and economic position that treats markets, private enterprise, competition, and limited government intervention as the main organizing principles of the economy. It became especially influential in the late twentieth century, when policies commonly labeled neoliberal—including privatization, deregulation, trade liberalization, and reductions in direct state provision—were promoted in many countries. The term is often evaluative rather than neutral: supporters associate it with economic freedom and adaptability, while critics argue that its priorities can weaken social protections, increase inequality, or favor corporate power. These are broad tendencies, and neoliberal policies differ across countries and periods; the word does not identify a single program. As a noun, “neoliberal” can refer to someone who supports this outlook, though “neoliberal economist” or “neoliberal policy” is often clearer. The word is useful because it names a major framework in modern political economy, but its charged associations mean that context and the speaker’s viewpoint matter. In academic writing, it is generally distinguished from classical or neoclassical economics and from liberalism more broadly.
Favoring or characterized by neoliberal principles, especially an economic order based on free markets, private enterprise, competition, and limited government intervention.
"The company defended its neoliberal approach to taxation and regulation."
Often used before words such as economics, policies, model, and agenda.
A person who supports or promotes neoliberal principles or policies.
"The politician was regarded as a neoliberal by critics of his economic reforms."
The noun use is less common than the attributive adjective and can sound dismissive, depending on context.
Used when referring to multiple advocates of neoliberalism or neoliberal policies.
"The coalition included neoliberals from several political parties."
The term grew out of a 1930s question: could market liberalism be rebuilt after the failures of the interwar economic order?
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Where does neoliberal come from?
The word was formed through English from the prefix neo-, meaning “new,” and liberal, ultimately derived from Latin liber, meaning “free.” The term developed in the 1930s as economic thinkers sought to recast liberalism in response to the Depression, the failures of laissez-faire policies, and the rise of centrally planned economies. Its related vocabulary includes liberal, liberalism, liberty, and liberate, all of which share the same Latin root.
Related word forms
How neoliberal is actually used
Chiefly used in political economy and current affairs. The term is often evaluative rather than neutral: supporters may present it as a defense of economic freedom, while critics associate it with inequality, reduced social provision, or corporate influence. There is no major regular difference in form or meaning between standard British and American usage.
Easily confused with neoliberal
Neoclassical economics is a family of models built on classical economic assumptions, whereas neoliberalism is a broader political-economic program emphasizing free markets and limited government.
Liberalism broadly concerns individual freedom and equality, while neoliberalism specifically applies liberal ideas through a market-centered economic program.