Neoliberalism is a pervasive and increasingly global ideology, associated with the favoring of free market competition and private property rights, reduction or abolishment of government intervention and expenditure, and valuation of individual “freedom of choice.”
Although often represented in everyday discourse or common sense as an “efficient” and self-evident way of social organization, neoliberalism is associated with a disproportionate accrual of wealth and opportunity among certain groups. In particular, critics point out that neoliberalism benefits multinational corporations and the financial sector, as well as particular government agencies and international organizations. When put into practice, neoliberal policy has produced increasing social and economic inequalities within countries as well as between countries and regions. These disparities potentially lead to disempowerment and produce negative effects on well-being. Its emphasis of individual freedom tends...
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Carlquist, E., Phelps, J. (2014). Neoliberalism. In: Teo, T. (eds) Encyclopedia of Critical Psychology. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-5583-7_390
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Print ISBN: 978-1-4614-5582-0
Online ISBN: 978-1-4614-5583-7