The term neoliberal refers to a political ideology that emphasizes free market economics, minimal government intervention in business and economic affairs, and individual responsibility for one's own success or failure. Neoliberals believe that the best way to promote economic growth is by reducing taxes and regulation on businesses, allowing them to operate freely without government interference. This ideology has been associated with conservative political parties and leaders who advocate for free trade, privatization of public services, and deregulation of industries.