ELI5: Explain Like I'm 5

Neoliberalism

Neoliberalism is an economic policy that focuses on making the economy stronger by increasing free trade, reducing the role of the government, and encouraging people to compete in the marketplace. It means that the government's role in the economy is more limited than it would be in a more traditional economy, which can mean that individuals and businesses have more freedom to operate without government involvement. This type of economic policy usually emphasizes privatizing government services, reducing government spending, reducing government regulations, and encouraging businesses to compete. It also emphasizes reducing taxes, reducing inflation, and controlling the money supply.