Liberalism is a political philosophy that believes in liberty and freedom. Liberalism is a term that was coined in 1776 by Scottish economist Adam Smith, who published his book called, "The Wealth of Nations." The book proposed minimal regulation from the government and fewer interventions. The goal was to help promote entrepreneurship.
Neoliberalism implies a new kind of liberalism, which is different from what it meant in the past. The original purpose of liberalism was to encourage entrepreneurship by removing government control and interference. Neoliberalism was introduced to speed up the process of globalization in the late eighties and nineties.
Today, many people can be classified into liberalism and traditional. Liberalism is the way of believing and thinking that is more modern. Liberals try to show those people who are poor and struggling with a way of living that will be helpful to them and promising.
The prefix “neo” means “new.” Liberalism has been around for a long period of time and neoliberalism has only been around for about twenty-five years. Liberalism has to do with politics mainly. Neo-Liberalism was created in order to deal with the economies and help increase trade among the countries.
Since liberalism pertains to different aspects of a culture, neoliberalism only affects the economy. Once people understand liberalism, then they can further understand their own beliefs.
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