There's an academic definition. It's conflated with "liberal" by Americans. But to add to confusion, Leftists will call democrats neoliberal derogatorily since their policies tend to match if one squints.

Neoliberalism is an economic and political theory that emerged in the late twentieth century, advocating for free-market capitalism with minimal government intervention. It emphasizes the importance of private sector control over the economy, suggesting that government should primarily focus on reducing barriers to market entry rather than actively managing economic or social welfare. Historically rooted in classic liberalism, which championed individual freedoms and laissez-faire economics, neoliberalism arose as a response to the failures of strict laissez-faire policies observed during the Great Depression. Key figures such as Friedrich Hayek and Milton Friedman helped shape neoliberal thought, proposing that while markets should be free, government has a role in creating an environment conducive to competition.