Neoliberalism, or neo-liberalism, is a term used to describe the 20th-century resurgence of 19th-century ideas associated with free-market capitalism.: 7 A significant factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominately advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, austerity and reductions in government spending in order to increase the role of the private sector in the economy and society; however, the defining features...