The difference between victorian liberalism and neoliberalism
The term "neoliberalism" is a bit ambiguous, but whatever it means is rooted in the ideology of classic (victorian) liberalism, that is the primacy of markets, investors, individualism and globalization over institutions, workers, reciprocity and internationalism.
Neoliberalism for me largely coincides with the Washington Consensus and reaganism/thatcherism, and a classic liberal like Peter Mandelson summarized well in 2002:
“in the urgent need to remove rigidities and incorporate flexibility in capital, product and labour markets, we are all Thatcherites now”
And Tony Benn had already pointed out in 1993 the roots of that ideology in classic liberalism:
“These so called modernisers are really Victorian Liberals, who believe in market forces, don't like the trade unions and are anti-socialist.”
But "neoliberalism" is not quite the same "classic liberalism" and the major difference is that while classic liberalism applied to all areas of economic activity, and classic liberals opposed both conservatives/rentiers and progressives/socialdemocrats, and state intervention in any economic areas, neoliberals only oppose progressive/socialdemocrats, and strongly support land and finance based conservativism and rentierism, and support strong government intervention to support rentier interests in land and finance: in neoliberal states there are huge state (treasury and central bank) programmes to provide cheap massive credits and subsidies and low taxation to land (agricultural, commercial and residential land interests) and finance interests, and to backstop their losses, for enormous (trillions of dollars) amounts.
While classic liberals were in part allied with socialdemocrats against land and finance rentiers, as classic liberals and socialdemocrats both derived their incomes from industry, neoliberals are allied with land and finance rentiers against socialdemocrats, to the point of prioritizing land and finance interests over industry. Some of the reasons why:
Traditional industry has been deemed to be a breeding ground for labor unionism.
Much of traditional industry has been offshored to countries where independent labor unions are illegal or very weak and wages are low.
The ruling industrial elites have moved much of their capital into land and finance.
The political power of right-wing neoliberal parties (Republicans and Democrats in the USA, Conservatives and New Labour in the UK, ...) depends on the votes of mass land and finance rentiers, in particular the upper-middle classes voters who own share-based pension accounts and residential real estate.
Neoliberalism is the result of a union of convenience between the ideas and interests of classic liberals and conservative rentiers: hard global market competition for workers, generous national state welfare for real estate and finance.