What is the definition of 'neoliberalism?'
1) A left-wing (or 'liberal') economic philosophy that advocates social welfare policies, taxes on large corporations, and increased government intervention in the economy
2) A right-wing economic philosophy that advocates for free markets, limited government intervention, and individual liberty
3) A political ideology that combines elements of both left-wing and right-wing economic philosophies
4) A term used to describe the economic policies of developing countries