What is neoliberalism?

Neoliberalism is an economic term used sometimes in political speeches. Even though it is widely used many people do not know what that neoliberalism means.
Neoliberalists think that government should not intervene in economical matters. They think that government has no business in helping entrepreneurs, pushing for better work conditions for workers and that government managed firms should not exist. They think economical matters are better off with no government intervention.
Many American educated Mexican presidents like Carlos Salinas, Ernesto Zedillo and Felipe Calderon think that way. That's why Carlos Salinas privatized the government owned phone company and signed NAFTA. Vicente Fox had a not so neoliberal approach to things and that's why he created credits for small business owners.
The problem with neoliberals is that they take their doctrine to the extreme. They believe blindly in their ideas and go to the extreme of thinking that government should not help create new businesses in new industries and when people follow this advice countries end up like Mexico where there are no competitive industries and the only industry there is pays very low wages, where the government phone company was privatized and became a monopoly that charges the highest rates in the world, where thanks to NAFTA Mexican farmers could not compete with the big agricultural industry in the US and now the fields in Mexico are abandoned and migration to the US has increased.
The truth is that nothing should be done in excess. It is true that sometimes the government should not interfere in economical matters but leaving the economy completely unregulated and unsupervised is not a good idea and it even defies common sense.