neoliberalism
UK[ˌniːəʊˈlɪbərəlɪzəm]US[ˌniːoʊˈlɪbərəlɪzəm]
n
a political approach that favors free-market capitalism, deregulation, and reduction in government spending.
Morpheme Breakdown
neo
liberal
ism
neo
new
liberal
free
ism
doctrine
Etymology
neoliberalism is a 20th-century revival and reinterpretation of classical liberal principles. the term is constructed from the greek prefix 'neo-' (new) attached to 'liberalism', which itself originates from the latin 'liberalis', relating to freedom. the suffix '-ism' systematizes these ideas into a distinct political and economic doctrine. thus, the word's literal construction as "the new doctrine of freedom" logically evolved to specify a modern ideology emphasizing free markets, minimal state intervention, and individual entrepreneurial freedom.
Analysis
Structure: neo (new) + liberal (free) + ism (doctrine)
- neo: from greek 'neos', meaning 'new'. serves as a prefix indicating a revived or modified form.
- liberal: from latin 'liberalis', meaning 'of freedom, befitting a free person'. serves as the core root denoting principles of liberty and free choice.
- ism: from greek '-ismos', a suffix forming nouns of action, system, or doctrine.
Examples
the policies of deregulation and privatization were heavily influenced by neoliberalism.
critics argue that neoliberalism has increased economic inequality.
the shift towards neoliberalism in the 1980s transformed global economic policy.