Understanding Neoliberalism's Definition

Neoliberalism is often misdefined in popular discourse, leading to confusion regarding its actual significance. It can be viewed as a historical period, showcasing the emergence of global capitalism beginning around the 1970s, marked by events such as the closing of the gold window or the Volcker shock. Alternatively, it can be understood as a series of policy measures including privatization, deregulation, and liberalization, which can vary by country and implementation over time. Lastly, neoliberalism can also be seen as an intellectual movement with influential thinkers and evolving ideas reflecting the challenges capitalism faces, illustrating a complex definition tailored by historical context.