What are the pros and cons of neoliberalism?

Neoliberalism promotes free markets, deregulation, and privatization, which can stimulate economic growth, increase efficiency, and foster innovation. However, it often leads to income inequality, reduced public services, and can undermine social safety nets, disproportionately affecting vulnerable populations. Critics argue that it prioritizes corporate interests over social welfare, resulting in a lack of accountability and increased environmental degradation. Balancing economic growth with social equity remains a significant challenge within neoliberal frameworks.