A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members.
A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.

From Stanford, about neoliberalism:

Though not all scholars agree on the meaning of the term, "neoliberalism" is now generally thought to label the philosophical view that a society's political and economic institutions should be robustly liberal and capitalist, but supplemented by a constitutionally limited democracy and a modest welfare state.