Economic liberalization in the context of "Transition economy"

Neoliberalism is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. The term has multiple, competing definitions, and is most often used pejoratively. In scholarly use, the term is often left undefined or used to describe a multitude of phenomena. However, it is primarily employed to delineate the societal transformation resulting from market-based reforms.

Neoliberalism is often associated with a set of economic liberalization policies, including privatization, deregulation, depoliticisation, consumer choice, labor market flexibilization, economic globalization, free trade, monetarism, austerity, and reductions in government spending. These policies are designed to increase the role of the private sector in the economy and society. Additionally, the neoliberal project is oriented towards the establishment of institutions and is inherently political in nature, extending beyond mere economic considerations.

Maia Sandu (Romanian: [ˈmaja ˈsandu]; born 24 May 1972) is a Moldovan politician who has served as the sixth president of Moldova since 2020. She is the founder and former leader of the Party of Action and Solidarity (PAS) and was prime minister of Moldova from June to November 2019, when her government collapsed after a vote of no-confidence. Sandu was minister of education from 2012 to 2015 and member of the parliament of Moldova from 2014 to 2015, and again in 2019.

Sandu was elected president of Moldova in a landslide victory during the 2020 Moldovan presidential election. The first female president of Moldova, Sandu is a strong supporter of the accession of Moldova to the European Union, overseeing Moldova's granting of candidate status, and is widely considered "pro-Western". She has criticised and opposed Russia's invasion of Ukraine and supported subsequent steps to reduce Moldova's economic dependence on Russia, frequently expressing sympathy and support for Ukraine in the conflict. Sandu has made anti-corruption, economic reform and liberalisation a central part of her political platform, as well as closer integration with Europe. In February 2023, she accused Russia of seeking to stage a coup of the Moldovan government and has continued to seek to reduce Russia's influence over the country.

Liberalization (American English) or liberalisation (British English) is a broad term that refers to the practice of making laws, systems, or opinions less severe, usually in the sense of eliminating certain government regulations or restrictions. The term is used most often in relation to economics, where it refers to economic liberalization, the removal or reduction of restrictions placed upon (a particular sphere of) economic activity. However, liberalization can also be used as a synonym for decriminalization or legalization (the act of making something legal after it used to be illegal), for example when describing drug liberalization.

The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for crisis-wracked developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury. The term was first used in 1989 by English economist John Williamson. The prescriptions encompassed free-market promoting policies such as trade liberalization, privatization and finance liberalization. They also entailed fiscal and monetary policies intended to minimize fiscal deficits and minimize inflation.

Subsequent to Williamson's use of the terminology, and despite his emphatic opposition, the phrase Washington Consensus has come to be used fairly widely in a second, broader sense, to refer to a more general orientation towards a strongly market-based approach (sometimes described as market fundamentalism or neoliberalism). In emphasizing the magnitude of the difference between the two alternative definitions, Williamson has argued that his ten original, narrowly defined prescriptions have largely acquired the status of "motherhood and apple pie" (i.e., are broadly taken for granted), whereas the subsequent broader definition, representing a form of neoliberal manifesto, "never enjoyed a consensus [in Washington] or anywhere much else" and can reasonably be said to be dead.

Alexander Dubček (Slovak pronunciation: [ˈaleksander ˈduptʂek]; 27 November 1921 – 7 November 1992) was a Czechoslovak and later Slovak statesman who served as the First Secretary of the Presidium of the Central Committee of the Communist Party of Czechoslovakia (KSČ) (de facto leader of Czechoslovakia) from January 1968 to April 1969 and as Chairman of the Federal Assembly from 1989 to 1992 following the Velvet Revolution. He oversaw significant reforms to the communist system during a period that became known as the Prague Spring, but his reforms were reversed and he was eventually sidelined following the Warsaw Pact invasion in August 1968.

Best known by the slogan, "Socialism with a human face", Dubček led a process that accelerated cultural and economic liberalization in Czechoslovakia. Reforms were opposed by conservatives inside the party who benefited from the Stalinist economy, as well as interests in the neighbouring Soviet-bloc who feared contagion, western subversion, strategic vulnerability, and loss of institutional power. For reasons of institutional interests in the Soviet Union such as those of the military and KGB, false reports, and the growing concern among the Soviet leadership that Dubček was no longer able to maintain control of the country, Czechoslovakia was invaded by half a million Soviet-led Warsaw Pact troops on the night of 20–21 August 1968. This was intended to enable a coup by conservative forces. That coup, however, could not materialize due to lack of a viable pro-Soviet replacement leadership and the unexpected extraordinary popularity of Dubček and the reformist leadership. Soviet intervention ushered in a period of maneuver between conservatives and reformers where conservatives relied on Soviet influence to shift the balance of power, reversing reforms of the Prague Spring.