He neoliberalism it is an economic and political doctrine that points to minimize the role of State . This theory arose from the premises of classical liberalism and became popular at the end of the decade of 1970 .
The Chicago School of Economics It was key in the development of neoliberalism. Milton Friedman and George Stigler They are considered two of the main thinkers who drove these ideas , then transmitted to the so-called Chicago Boys (graduates of the University of Chicago ).
From essays and academic reflections, neoliberalism became a reality in reality through the policies applied by leaders such as the English Margaret Thatcher and the American Ronald reagan . Their results received both applause and criticism, depending on the position taken.
It can be said, in general, that neoliberalism is based on free trade and the reduction of public spending . Its central premise is that the State should intervene as little as possible in the economy and in society in general, delegating many of its functions in the private sector.
Through the reduction of the money supply and the increase in interest rates, neoliberalism aims to avoid devaluations and market cycles. Moreover, it tends to eliminate taxes on profits, income and production and tax consumption.
The trade deregulation , the Labor flexibility and the privatization of public companies These are other strategies proposed by neoliberalism to generate wealth and well-being. For their detractors, on the other hand, this type of measures favors the concentration of wealth in the hands of a minority and violates the rights of the majority.