The ideological belief that free markets are desirable in an economy and in society as a whole refers to which type of philosophy?
A) Keynesianism
B) liberalism
C) neo-structuralism
D) neoliberalism

Question

Quizplus · Accepted Answer

Neoliberalism is the ideology that emphasizes the value of free market competition, suggesting that governments should limit subsidies, reform tax law to broaden the tax base, reduce deficit spending, limit protectionism, and open markets up to trade. It is closely associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, and reductions in government spending in order to enhance the role of the private sector in the economy.

The Ideological Belief That Free Markets Are Desirable in an Economy