ABSTRACT
Neoliberalism describes a broad political and economic orientation that emphasizes the individual responsibility for one's own actions – and individual accountability for the consequences of those actions – within the institutional framework of strong private property rights and unfettered commodity markets. Liberty, a central concept of liberalism, can refer to 'freedom to' (maximize capacities) or 'freedom from' (state intervention). A politically right-wing version of liberty advocates that each individual has and should have an equal chance to become unequal. Contemporary neoliberalism ostensibly favours market forces over state intervention, and it views inequality as a natural outcome of competition between individuals. The key ideas and sentiments of neoliberalism include: the individual is the basis of social order; personal responsibility is the basis of accountability; and self-interest is the basis of morality. These ideals can be contrasted with those that emphasize the collective good, communal responsibility and solidarity, and the importance of addressing general welfare and social needs.
