Neoliberalism
Neoliberalism refers to policies from the late 20th century that favour deregulation, privatisation, free trade, low taxes and fiscal discipline. It shaped governments and international institutions from the 1980s onward, often in pursuit of market-led growth.
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No consistent position; sometimes devolves services, sometimes centralises fiscal control.
Generally operates within democracies, though some reforms were applied under authoritarian regimes.
Mixed: liberal on markets but has accompanied stronger policing in some governments.
Supports global economic institutions and treaties that bind national policy.
Often paired with strong defence, but not a defining feature.
Favours mobile labour markets, but governments have varied widely on immigration.
Supports privatisation and market allocation, with limited redistribution.
Seeks to reduce state ownership and regulation, while keeping central bank and fiscal rules.
Defined by support for free trade and free movement of capital.
Largely indifferent to religion in public policy.
Indifferent on social values; adopted by both conservative and centre-left parties.
Supports innovation driven by markets and globalised technology industries.