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Neoliberalism is a term used to describe the state stepping in on the behalf of private interests. This includes deregulation, privatisation, the opening of markets both at home & abroad, austerity, the trampling of workers' movements, and the like. 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.
Neoliberalism has been linked to lower well-being, social disconnection, and loneliness.[1]
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.
References
- ↑ Julia C. Becker, Lea Hartwich, S. Alexander Haslam (2021). Neoliberalism can reduce well-being by promoting a sense of social disconnection, competition, and loneliness. The British Psychological Society.