Neoliberalism (neo-liberalism) refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism. These supposedly include economic liberalization policies such as privatization, fiscal austerity, deregulation, free trade, and reductions in government spending in order to increase the role of the private sector in the economy and society. These market-based ideas and the policies they inspired constitute a paradigm shift away from the post-war Keynesian consensus which lasted from 1945 to 1980.

https://en.wikipedia.org/wiki/Neoliberalism

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