The economic policies of most western states were guided by an urge to generate employment and to meet the basic needs of education, health, housing, civic amenities and others by adhering to a disciplined tax regime. Economic liberalization is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities the doctrine is associated with classical liberalism. Primarily, economic liberalism states that the government must desist from acting as an intermediary in the economy, and rather permit individuals to take part in unrestricted and self- regulating markets (developmental individualism and qualified welfare.
These include economic liberalization policies such as privatization , fiscal austerity , deregulation , free trade , and reductions in government spending in order to increase the role of the private sector in the economy and society. Classical liberalism is a political ideology, a branch of liberalism, which advocates civil liberties and political freedom with limited government under the rule of law, and emphasizes economic freedom.
Neoliberalism is a term commonly used to describe free-market economics neoliberalism involves policies associated with free trade, privatisation, price deregulation, a reduced size of government and flexible labour markets recently, neoliberalism has been associated with the policies of austerity. In general privatization, means leaving the economy from government control to market in the broad sense, privatization implies the policy meant to give the greater role to the market mechanism and lessen the government intervention in the economy. Given their disparate ideologies, conservatives and liberals generally reach different conclusions about such economic issues as how modern economies operate, what should be the role of government economic policies and regulations, and what levels of income and wealth inequality should be tolerated.
Neoliberalism ( neo-liberalism ) refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism these include extensive economic liberalization policies such as privatization , fiscal austerity , deregulation , free trade , and reductions in government spending in order to increase the role of the private sector in the economy and society. Liberalism is classically defined as an attempt to limit the power of the state for the sake of individual freedom liberals, want to prevent government from oppressing individuals and groups. The liberal school of economics became famous in europe when adam smith, an scottish economist, published a book in 1776 called the wealth of nations he and others advocated the abolition of government intervention in economic matters. Classical liberalism is a political philosophy which holds that the most important value is individual liberty classical liberals believe that the utmost priority would be to maximise individual liberty, while restricting the use of force and coercion (ie government) in order to achieve this. Economic liberalism contrasts with social liberalism as well as other economic orders such as socialism, market socialism, the social market economy, mercantilism, state capitalism,  and fascist economics (corporatism.
Privatisation - is it good or bad for economic efficiency supporters of privatisation believe that the private sector and the discipline of free market forces are a better incentive for businesses to be run efficiently and thereby achieve improvements in economic welfare. An updated version of classical liberalism, particularly classical liberal economics it's central theme is that the economy works best when left alone by the state, reflecting a belief in free market economics and atomistic individualism. Economic liberalism is the ideological belief in organizing the economy on individual lines, meaning that the greatest possible number of economic decisions are made by individuals or households and not by collective institutions or organizations [1. Government intervention is any action carried out by the government or public entity that affects the market economy with the direct objective of having an impact in the economy, beyond the mere regulation of contracts and provision of public goods.
Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism: 7 those ideas include economic liberalization policies such as privatization, austerity, deregulation, free trade and reductions in government spending in order to increase the role of the private sector in the economy and society. Economics which saw a place for government intervention in the 1970s, liberalism, or the cry for deregulation, privatization and deletion of government intervention in the market economy. Conservative vs liberal comparison the epithet conservative or liberal is used to describe political and economic views and affiliations the meaning of 'conservative' or 'liberal' could be different in different contexts - social, economic and political.
Economic liberalism is an economic theory, in which freedom of action for the individual and the firm is promoted through several principles: self-interest, free trade, laissez-faire, private property, and competition. Economic deregulation occurs when the government removes or reduces the restrictions in a particular industry to improve business operations and increase competition the government removes.