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Neoliberalism, or neo-liberalism, is a term to describe the 20th-century resurgence of 19th-century ideas associated with free-market capitalism. While imperialism (the highest stage of capitalism) remains the primary contraction in the world, neoliberalism has significant influence on the policies of modern capitalist states.
History
The term entered into common use in the 1980s in connection with US-backed dictator Augusto Pinochet's economic reforms in Chile, following the CIA coup against the predecessor socialist government of Salvador Allende.