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Neoliberalism refers to a political–economic paradigm based on an ideology that calls for the state implementation, facilitation, and enforcement of free-market economic systems and logic across national and global settings, and effectively across all forms of human organization and decision making. Initially rising to prominence in the 1980s in the United Kingdom and the United States following the elections of Margaret Thatcher and Ronald Reagan, respectively, neoliberal discourses and policies have significantly shaped the 21st-century world order. Although neoliberalism has taken on a number of provincial characteristics and morphed into several strands (e.g., British Third Way, German ordoliberalism), they all share a number of key ideological and policy positions. This entry identifies the key theoretical influences, premises, and policy prescriptions and briefly reviews the global ...

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