Neo-Liberalism is capitalism without leftist illusions (i.e., illusions that there can be such a thing as humane capitalism on a long-term basis). The concept suggests its own definition: ‘Neoliberalism’ is a revival of ‘liberalism’. ‘Neo’means we are talking about a new king of liberalism. This definition suggests that liberalism, as a political ideology, has been absent from political discussions and policy making for a period of time, only to emerge in more recent times in a reincarnated form. It suggests, in other words, that liberalism has undergone a process of initial growth, intermediary decline and finally a recent rejuvenation. For present purposes, a useful baseline definition is that neoliberalism is a political project that is justified on philosophical grounds and seeks to extend competitive market forces, consolidate a market friendly constitution and promote individual freedom
