Neoliberalism
‘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 essential for economic growth whilst others hold neo-liberalism responsible for the global economic problems we are experiencing today. It is clear to many that the policies arising from this ideology have caused the poor to grow poorer and the rich to grow richer. Accordingly, this essay will argue that Neo-Liberalism greatly contributed greatly to today’s global economic problems and will shed light on the overriding reasons why a neo-liberalism is not ideal to foster a sustainable and healthy economic environment for all as the ideology proposes.
One of the primary economic problems in the world is sub-standard living conditions and the major gap between the wealthy and the non-wealthy. The first argument that encapsulates the problems associated with neo-liberalism is the tendency for the ideology to foster inequality in society. Navarro (1998) agrees and extends to say that neoliberalism has caused increasingly declining living conditions for most of the world’s population, whilst the minority continue to grow wealthier. This is supported by the argument that the inequality arises from policies that exist in a neo-liberal society such as granting tax-cuts for the wealthy and decreasing minimum wages for the non-wealthy (George,
‘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 essential for economic growth whilst others hold neo-liberalism responsible for the global economic problems we are experiencing today. It is clear to many that the policies arising from this ideology have caused the poor to grow poorer and the rich to grow richer. Accordingly, this essay will argue that Neo-Liberalism greatly contributed greatly to today’s global economic problems and will shed light on the overriding reasons why a neo-liberalism is not ideal to foster a sustainable and healthy economic environment for all as the ideology proposes.
One of the primary economic problems in the world is sub-standard living conditions and the major gap between the wealthy and the non-wealthy. The first argument that encapsulates the problems associated with neo-liberalism is the tendency for the ideology to foster inequality in society. Navarro (1998) agrees and extends to say that neoliberalism has caused increasingly declining living conditions for most of the world’s population, whilst the minority continue to grow wealthier. This is supported by the argument that the inequality arises from policies that exist in a neo-liberal society such as granting tax-cuts for the wealthy and decreasing minimum wages for the non-wealthy (George,