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Neoliberalism is the dominant ideology permeating the public policies of many governments in developed and developing countries and of international agencies such as the World Bank, International Monetary Fund, World Trade Organization, and many technical agencies of the United Nations, including the World Health ...

Higher rates of poverty; less protection against poverty, unemployment, and healthcare risks; social exclusion. Austerity-driven financial policies leading to an increase in unemployment and poverty; reduced labour costs.

Liberal institutionalism (or institutional liberalism or neoliberalism) is a theory of international relations that holds that international cooperation between states is feasible and sustainable, and that such cooperation can reduce conflict and competition. Neoliberalism is a revised version of liberalism.

These assumptions include individualism, consumerism, a normative goal of economic growth, and the idea that government (in contrast to the market) is inefficient and a threat to freedom. The opportunity to consume and thereby maximize individual material interests is seen as integral to well-being.

Friedman's public policy theories are based on two core principles: 1) voluntary interactions between consumers and businesses often produce results superior to those crafted by government decree; 2) policies have unintended consequences, so economists should focus on results, not intentions.

Milton Friedman, wrote in his early essay "Neo-liberalism and Its Prospects" that "Neo-liberalism would accept the nineteenth-century liberal emphasis on the fundamental importance of the individual, but it would substitute for the nineteenth century goal of laissez-faire as a means to this end, the goal of the ...

This ideology postulates that the reduction of state interventions in economic and social activities and the deregulation of labor and financial markets, as well as of commerce and investments, have liberated the enormous potential of capitalism to create an unprecedented era of social well-being in the world's ...