Don’t become overly concerned about the linguistic meaning of the term “neoliberalism”…as in, “what was the old liberalism? And what is new in neoliberalism?”..it is just a term for an economic theory focused on liberalisation of markets. To give you an idea of how meaningless the term is, it was advocated by a political faction known as neoconservatives!
It is an economic program that pushes for privatisation, deregulation, austerity, cutting social spending and so on. ..basically handing over control of economic policy to the private sector, which in turn, gives business sovereignty over government.