Neoliberalism
신자유주의
A political-economic regime and accumulation strategy that capital adopted from the 1970s as a comprehensive counter-offensive against labour in response to the crisis of falling profit rates. Its core policies include market liberalisation, privatisation, deregulation, labour flexibilisation, financialisation, and cuts to public spending, while the state withdraws from welfare provision and is reconfigured into a 'lean and strong state' that enforces market discipline and private property rights. In Marxist analysis, neoliberalism is understood as a class project to restore the power of capital and maximise the extraction of surplus value.
Sources
- Wikipedia (EN) comprehensive overview of neoliberalism as political-economic ideology, its historical origins at the 1938 Colloque Walter Lippmann, its policy content (privatisation, deregulation, liberalisation, austerity), its deployment by Thatcher and Reagan from the late 1970s, and Marxist critiques including David Harvey's characterisation of it as a 'class project'
- Wikipedia (KO) Korean-language article covering the definition, historical development, economic and political dimensions of neoliberalism, and its manifestations in South Korea from the Kim Young-sam administration onward
- Marxists Internet Archive Neil Davidson (2016): three meanings of neoliberalism — ideology (1930s origins), strategy (mid-1970s shift of workplace power from labour to capital), and the entire period of capitalism since the 1970s; emphasises that neoliberalism is not about abolishing the state but changing what it does
- newlearningonline.com David Harvey, A Brief History of Neoliberalism (2005): foundational Marxist theorisation defining neoliberalism as a theory of political-economic practices centred on strong private property rights, free markets and free trade, where the state's role is to create and preserve the institutional framework for such practices