ABSTRACT
Like many other terms in international political economy (IPE), the generic term “liberalism” suffers from something of a personality disorder. The term means different things in different contexts. In the United States today, for example, a liberal is generally regarded as one who believes in an active role for the state in society, such as helping the poor and funding programs to address social problems. Since the mid-1980s, someone who has been thought of more narrowly as an economic liberal believes almost (but not exactly) the opposite. For economic liberals (also referred to as neoliberals), the state should play a limited role in the economy and society. In other words, today’s economic liberals have much in common with people who are usually referred to as “conservatives” in the United States, Europe, Canada, and Australia.
