Answer: 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 of neoliberalism in both thought and practice have been the subject of substantial scholarly debate. In policymaking, neoliberalism was part of a paradigm shift that followed the failure of the Keynesian consensus in economics to address the stagflation of the 1970s.
English-speakers have used the term neoliberalism since the start of the 20th century with different meanings, but it became more prevalent in its current meaning in the 1970s and 1980s, used by scholars in a wide variety of social sciences as well as by critics. The term is rarely used by proponents of free-market policies. Some scholars have described the term as meaning different things to different people as neoliberalism has "mutated" into geopolitically distinct hybrids as it travelled around the world. Neoliberalism shares many attributes with other concepts that have contested meanings, including representative democracy.
The focus of the Renaissance at the time was on the works of
the Greeks and Romans. Emphasis was more
human activities like science, literature and the arts. This was called
Humanism where the focus of learning was on culture. Knowledge and ideas once lost was revived and
was now growing in Europe and this helped in cultural and intellectual
development.
