Neoliberalism

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In economics, an ideology and policy model that emphasises the value of free market competition. Although there is considerable debate as to the defining features of neoliberal thought and practice, it is most commonly associated with laissez-faire economics. In particular, neoliberalism is often characterised in terms of its belief in sustained economic growth as the means to achieve human progress, its confidence in free markets as the most-efficient allocation of resources, its emphasis on minimal state intervention in economic and social affairs and its commitment to the freedom of trade and capital.

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Corporate Finance Institute® Neoliberalism