neoliberalism

noun

1. (countable, derogatory, often, uncountable)A political ideology or ideological trend based on neoclassical economics that espouses economic liberalism, favouring trade liberalisation, financial deregulation, a small government, privatisation and liberalisation of government businesses, passive antitrust enforcement, accepting greater economic inequality and disfavouring unionisation.

   “This lethal fusion of economic insecurity and cultural scapegoating brought neoliberalism to its knees. […] The age of Obama was the last gasp of neoliberalism. Despite some progressive words and symbolic gestures, Obama chose to ignore Wall Street crimes, reject bailouts for homeowners, oversee growing inequality and facilitate war crimes like US drones killing innocent civilians abroad.”

2. (US, countable, uncountable)The ideology associated with the New Democrats and the Democratic Leadership Council.