[Use of word "neoliberalism"] dates from the Walter Lippmann Colloquium in Paris in 1938, a gathering of those who used to define liberalism in terms of the limited government, individualistic, free market sense dominant before ‘liberalism’ started to be used by those with more statist, collectivist and interventionist views in the late 19th century. Participants at the Colloquium included figures still well known as representatives of the older understanding of liberalism: Hayek, Mises, Wilhelm Röpke. However, the word has been used in an overwhelmingly negative sense by left wing critics of market liberalisation since the 1970s, and advocates of what in 1938 was referred to in 1938 came to prefer terms like classical liberal, market liberal, and libertarianism.
