What is the term for individuals or policies advocating a return to less-restricted capitalism as originally introduced by Adam Smith?

The term that best describes individuals or policies advocating a return to less-restricted capitalism, as originally introduced by Adam Smith, is neoliberal. Neoliberalism supports the idea of minimizing government intervention in the economy, promoting free market principles, and encouraging private enterprise and competition. This movement reflects a desire to revitalize the economic ideologies that emphasize individualism and market freedom, aligning closely with the ideas of capitalism set forth by early economists like Adam Smith.

Neoliberal policies typically advocate for deregulation of industries, reduction of state influence, and a belief that free markets lead to the most efficient outcomes for society. This makes the concept of neoliberalism directly linked to the historical foundations of capitalism, as it seeks to return to those minimal restrictions that allow for market forces to operate freely.

The other terms do not fully encapsulate the broad economic philosophy or political movement represented by the return to less-restricted capitalism in the same way that neoliberal does. Free market advocates would emphasize market freedom but may not necessarily align with the full ideological framework of neoliberalism. Classical capitalists and traditional economists might focus more on historical economic theories without explicitly advocating for the modern political and economic reforms associated with neoliberalism.