Abstract
Neoliberalism has been the dominant influence on economic policy in most of the world for nearly four decades. There has been a great deal of analysis of neoliberalism’s economic effects, but its psychological effects have received comparatively less attention. This article attempts to fill this gap, providing an assessment of neoliberalism according to psychological criteria. First, it describes the development and evolution of neoliberal theory, noting how it has changed over time. The psychological suppositions inherent in neoliberal theory are foregrounded, and judged by their correspondence to psychological research. Then, relevant psychological literature is reviewed and discussed to discover the possible psychological effects of neoliberal economic policies. The conclusion refers to the genesis of neoliberalism as a source of inspiration for crafting an alternative economic ideology better suited to human psychology.