What Is Neoliberalism?

Neoliberal is most understood as enacting economic policies to achieve a free market. This includes deregulation on industries and capital flows, privatizing foreign and domestic goods and services, redistribution of wealth through taxation and tariff schemes, profiting form every human need such as education and healthcare, and the increase of control over finance capital over productive capital. Neoliberalism affects an economy in multiple ways. Its first affect is an inequality in the distribution of wealth; the 1% class acquires more wealth due to the increase of a privatized economy while the middle class grows and more people are under the poverty line. The second concern of neoliberalism is the unethical commercialization of goods and services in the market. Marketisation increases human exploitation and degradation
One of the main concerns of neoliberal policy is the inequality of distribution of wealth, which creates a bigger gap between the working and the rich class. Some of neoliberalism’s affects are still seen in today’s economy. For example, in the US and UK universities are becoming more privatized, limiting the access of higher education to the middle and working class. As the economy expands in neoliberalism, the middle class start finding it more difficult to attain what was free before, making them have to work twice as hard, but with less income. The poor class falls deeper under the poverty line, because it becomes harder to find jobs and their benefits from the government decreases. Therefore, neoliberalism is not the best policy to implement in today’s economy. Although it has effects till today, it is very obvious that neoliberalism creates a bigger wage gap between the poor and the