Neoliberalism is a form of liberalism that supports economic freedom and the free market.
The key tenets of neoliberalism include privatisation and deregulation.
neoliberalism in British English
(ˌniːəʊˈlɪbərəˌlɪzəm, -ˈlɪbrəˌlɪzəm)
noun
a modern politico-economic theory favouring free trade, privatization, minimal government intervention in business, reduced public expenditure on social services, etc