Neoliberalism as a response to democracy

Neoliberalism emerged as a response to democracy as a way to restrain capitalism's exploitative nature. In the past, capitalism was unchecked and caused widespread harm to lives and ecosystems as it was not constrained by democratic processes. Early advocates of capitalism only sought to be left alone without interference. Neoliberalism, on the other hand, arose in a democratic era where people resisted capitalism's exploitation. This led to the emergence of policies such as taxation, wealth redistribution, publicly-funded services, and the welfare state to mitigate capitalism's aggressive tendencies.

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