That over-simplifies the definition of neoliberalism, and the contested nature of definitions of that term. It also ignores the differences between the liberalism that Thatcher claimed and her actual policies (although I’m not claiming that Hayak, for example, wasn’t part of the then-current definition of liberalism), particularly her social policies.
I promise you, despite what Wikipedia claims, if a British newspaper were to refer to a liberal politician, they would not include Thatcher and Johnson.
Firstly, the social aspect of the term liberalism is more prominant than the economic. And secondly, it would be rare in the modern age to see it applied to Hayakian economics as opposed to Keyensian.
Neoliberalism, as a term, is to liberalism as Libertarian is to liberalism. They share a root and you can point to similarites, but once you scratch beneath the surface they aren’t all that similar and have important areas of opposition.
That over-simplifies the definition of neoliberalism, and the contested nature of definitions of that term. It also ignores the differences between the liberalism that Thatcher claimed and her actual policies (although I’m not claiming that Hayak, for example, wasn’t part of the then-current definition of liberalism), particularly her social policies.
I promise you, despite what Wikipedia claims, if a British newspaper were to refer to a liberal politician, they would not include Thatcher and Johnson.
Firstly, the social aspect of the term liberalism is more prominant than the economic. And secondly, it would be rare in the modern age to see it applied to Hayakian economics as opposed to Keyensian.
Neoliberalism, as a term, is to liberalism as Libertarian is to liberalism. They share a root and you can point to similarites, but once you scratch beneath the surface they aren’t all that similar and have important areas of opposition.