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Neoliberalism is a dominant political-economic system, also known as a political ideology, used to organize societies (the people occupying a geographical area) and manage economies (the wealth and resources of a region). An ideology is defined as a set of ideas and ideals that influence the economic and political decisions of a particular country (eg the United States of America) or political region (eg the European Union). The ideology of neoliberalism encourages free-market competition, deregulation, privatization, and individual responsibility. At its core, neoliberalism complements market capitalism by favoring individual (private) interests over collective (public) goals. For example, profit maximization and wealth accumulation are private interests, whereas an equitable distribution of resources across a population is a public goal.