Why was there a wave of pro-market economic reforms happening in several Western countries during the 1980s and 1990s? What relation did it have with the theory of "neoliberalism"?

by WildWestAdventure

If I recall correctly there was Reaganomics in the United States and Thatcher's Conservative government which were the leaders of this movement or phenomenon. There were also market reforms in Australia and New Zealand during the same period. Several of the Nordic countries such as Denmark, Sweden and Finland also trimmed down their extensive welfare states in the 90s. How connected are these countries' experiences and why did this phenomenon occur in the first place?

ReaperReader

Not to discourage further discussion but I wrote a comment for the most recent floating thread on the drivers behind the pro-market reforms that might help to answer the first part of your question. I'm happy to address any follow up questions you might have.