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LogoutNeoliberalism is a policy approach that combines politics and economics, with the goal of transferring economic power from the government to the private sector. Many neoliberal policies aim to improve the functioning of free-market capitalism by limiting government spending, regulation, and public ownership.
Margaret Thatcher, the United Kingdom’s prime minister from 1979 to 1990 and the Conservative Party’s leader from 1975 to 1990, and Ronald Reagan, the United States’ 40th president, are commonly linked with neoliberalism (from 1981 to 1989). Neoliberalism has recently been connected with austerity measures and initiatives to reduce government spending on social services.