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What is neoliberalism?
Dead.
I kid, I kid. My understanding is that neoliberalism refers to the group of Democrats around the late 80s and early 90s who were generally fiscally conservative and socially liberal. Many of these guys and gals also displayed more rightward tendencies on foreign policy than most Democrats, although that wasn't a prerequisite of being a neoliberal. While Larry Summers is a famous neoliberal and currently in a very powerful position, I think they don't so much exist anymore as neoliberals and the so-called liberal hawks kind of merged at some point during the 90s to become Blue Dogs.
Of course, these are all pretty malleable terms that aren't clearly defined and your mileage with each will vary. Also, since "normal" macroeconomic fiscal policies don't really work so much within a recession, traditional neoliberal economic advice is kind of pointless at the moment.
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