Liberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed and equality before the law. Liberals espouse a wide array of views depending on their understanding of these principles, but they generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press and freedom of religion. Liberalism became a distinct movement in the Age of Enlightenment, gaining popularity among Western philosophers and economists.
Neoliberalism, or neo-liberalism, is a term used to signify the political reappearance of 19th-century ideas associated with free-market capitalism. : 7 A prominent factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominantly advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society.
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