Neoliberalism Essay - 1723 Words

‘Neo liberalism is responsible for most of the global economic problems we are experiencing today’ ‘Neo liberalism is responsible for most of the global economic problems we are experiencing today’ Brett nelson Word count – 1511. 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†¦show more content†¦The most prominent and possibly the most notable market crash is the ‘Global Financial Crisis’ which was a direct repercussion of the neo-liberal policies which were implemented at the time and for which many of today’s global economic problems has stem from. These policies predominately include the replacement of government functions and services with profit-seeking entities, or more commonly known as privatisation and most importantly the deregulati on of the economic market (Beder, 2006). Due to the deregulation, financial institutions and other economic players were able to invest in more complex financial markets which were beyond their understanding and a result a market crash occurred and the detrimental effects were widespread. If regulation had been put in place to monitor investment activity then it has been argued that the Global Financial Crisis would not have occurred and the associated global economic problems we are experiencing today would not have eventuated (Dag Einar Thorsen, 2013). As neoliberal policies where implemented around the world casing the global financial crisis the world disparities in wealth and income increased as well as poverty, contradicting neoliberal theories that by increasing the wealth at the top everyone becomes better off. One of the largest areas of concern around the globe is the poverty levels. Over the last 40 years governments have been influenced by neoliberal ideologies and poverty has increased on aShow MoreRelatedNeoliberalism in Brazil1312 Words   |  6 PagesIn an article entitled â€Å"Resisting and reshaping destructive development: social movements and globalizing networks†, P. Routledge describes neoliberal development, â€Å"Contemporary economic development is guided by the economic principles of neoliberalism and popularly termed ‘globalization’. 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