Neo Liberalism

“…an ensemble of economic and social policies, forms of governance, and discourses and ideologies that promote individual self-interest, unrestricted flows of capital, deep reductions in the cost of labour, and sharp retrenchment of the public sphere. Neoliberals champion privatization of social goods and withdrawal of government from provision for social welfare on the premise that competitive markets are more effective and efficient.” (Thinnes, 2017)

Neoliberalism is a direct descendent of 19th century liberalism and was explicitly intended to re-create ‘laissez-faire’ conditions for markets in the 20th century (Hayter and Barnes 200). In

Neoliberalism refers to a political movement that espouses economic liberalism as a means of promoting economic development and securing political liberty.

In her well-informed discussion of neoliberalism, Sarah Baab discusses how neoliberalism does not affect poor countries as much as it does wealthy countries. She states, “Most global trade and foreign direct investment occur among wealthy countries, rather than between wealthy and poor nations. Wealth and power continue to have their privileges, although there is no doubt that some of these privileges have been eroded for non-elites in developed countries” (Ritzer and Atalay, 131). Baab is correct when considering the legal trade that occurs in vast amounts due to neoliberalism. Her flaw in her argument is that she fails to take into account the illegal trades that thrive due to neoliberalism, at times producing the majority of wealth for developing countries. Drug trafficking, sex trafficking, labor trafficking, and the smuggling of illegal goods occur between all countries, not just the rich and the poor. In fact, the wealthier states are making developing countries richer, and thus more powerful through their importation of goods such as illegal drugs and human beings. There is a huge risk for society associated with a country gaining its wealth through something as despicable as the trade

Neoliberalism according to Ritzer is the, “Liberal commitment to individual liberty, a belief in the free market, and opposition to state intervention” (37). Neoliberalism emerged in the 1930s and it is based on the ideas of classical economics (Ritzer, 37). Neoliberalism is harmful to human rights and does not improve the lives of others. On the universal declaration of human rights we can see thirty rights that humans are all entitled to (“The Universal Declaration of Human Rights”). Human rights under articles twenty-two, twenty-three, and twenty-five are all rights that neoliberalism violates.

Welfare recipients and “dangerous criminals” (the label casted) serve the function of displaced anger from social insecurity while the state proceeds with its economic deregulation. We see this still in debate the problems in society are the people mulching off welfare and social security, people don’t understand our insecurity is stemming from neoliberalism itself.

Neo-liberalism is the economic belief that free market forces achieved by minimising government limitations on business provide the lone route towards economic growth shifting control from the public sector into the

However, around the 1970’s, people began to become hostile about this government intervention and started to believe there should be a free market to minimalize government involvement (lecture). Neoliberalism marks a retreat from the liberal social democracy with focus on free trade, opposition to government regulation, refusal of responsibility for social welfare, and resource privatization (Alison Jaggar). The opposition of government regulation focuses specifically on aspects such as production of wages, working conditions, and environmental protections, while also pressing governments to abandon social welfare responsibilities (Alison Jaggar). Neoliberalism supports capitalism and the free flow of goods, resources, and people, while actively seeking to control that flow (Alison Jaggar). Neoliberalism takes advantage of inequalities between countries by increasing the gap between developing and developed nations

Neo-liberalism is associated with economic liberalism whose campaign support provides economic liberations, free trade and open markets, privatization, deregulation and promoting the role of private institutions present in new society. Classic liberalism criticizes the neo-liberalism objective of introducing liberalization to bring about gradual increase of wealth and freedom among nations, however, classic liberalism explains that instead of realization of wealth and freedom, liberalization resulted to constant fight proposals that threatened the progress of achieving wealth and freedom among nations. Neo-liberalism aimed to prevent and control monopoly situations such that if there are no bodies

However, in the 1970s the word underwent a radical change of meaning suddenly assuming negative overtones. Boas and Gans-Morse argue convincingly that in Latin America the watershed between these two radically different meanings was the 1973 Pinochet coup in Chile and post-coup government’s adoption of a new policy strategy along the lines advocated by the so-called “Chicago Boys”. Many critics of this U-turn in economic policy started to call “neoliberal” the new policy strategy with a new negative meaning. This sudden mutation of meaning rapidly spread around the globe to designate the change of policy strategy adopted by most governments since the late

Economics is based on several theories, whether it is neoliberalism or the welfare state. Neoliberalism and the welfare state are opposite beliefs that have been introduced to help the United States economy. Neoliberalism has a key goal of improving the well-being of society while encouraging a ‘free market’ economy. Similar to neoliberalism, the welfare state is a concept in which the state is supposed to protect and promote the well-being of society, socially and economically. A welfare state can occur in a neoliberal state. When the welfare state is used, then neoliberals believe an abuse of power is occurring. While the welfare state can occur in a neoliberal state, the role of the government should be limited to allow for a free market.

Privatization is the act of transferring ownership of a specified property or business operations from a government organization to the hands of a privately owned entity. This as well includes the transition of ownership from a public company to a private company. During the 21st century, the economy of United States have changed due to the industries that have been selected to be privatized by the government such as transportation, education and health care. Private sectors in the United States have taken control of these industries which is formally controlled by the government. It is noticeable that, the presence of privatization in the United States during the 21st century has affected the United States citizen negatively. The transportation

The concept of neoliberalism has brought many changes both in the world of politics and economy throughout the world, as well as in Chile. Neoliberalism has transformed Chile both politically and economically or even made Chile one of the luckiest victims of neoliberalism. In this essay, the writer will try to explain comprehensively about what is neoliberalism is and how it practices or policy shape the nature of domestic and global politics, especially Chile under Augusto Pinochet in 1973. Neoliberalism or “modern Liberalism” (Walzenbach, 2016, p. 88) is the idea that society should be shaped by the free market and that the economy should be deregulated and privatized. Thus, it is project that the state must reduce its role and keep it to a bare minimum (only to create and preserve the economic institutional framework) as well as more embrace the freedom of the individual to choose and decide (Friedman, 1962).

Neoliberalism is a concept which states that both politics and economics need to be reevaluated to respond to the sociology and the psychology of the people that are affected. This type of social structure demands that the economic system must become less strict, and advocates more free trade and open markets. According to Paul Treanor, "Neoliberalism is a philosophy in which the existence and operation of a market are valued in themselves, separately from any previous relationship with the production of goods and services" (Fish). One of the most important components of neoliberalism is the removal of big government from the business world and the allowance of state-owned enterprises to be controlled by private citizens. Neoliberalism was a term coined by Alexander Rustow who defined it as "the priority of the price mechanism, the free enterprise, the system of competition and a strong and impartial state" (Mirowski 13). The basic thesis behind neoliberalism is that the government needs to evacuate their position as dominator of enterprise. Businesses should be controlled by the people and the government's function in industry only to protect the individual participants. Chris Harman writes:

Neo-liberalism is a political ideology that suggests that ‘human well-being can be advanced by the maximisation of entrepreneurial freedom, characterised by private property rights, individual liberty, free markets and free trade’ (Geografiskar, A 2006). In today’s modern society neo-liberalism is widespread around the globe with various stakeholders offering conflicting views. Some advocates, namely the capitalistic portion of society argue that a liberal market is