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Neoliberal Theory

Neoliberal theory advocates for free trade, free markets and a reduced role for government in managing the economy instead encouraging privatization, deregulation and market liberalization based on neoclassical economic principles.

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15 views2 pages

Neoliberal Theory

Neoliberal theory advocates for free trade, free markets and a reduced role for government in managing the economy instead encouraging privatization, deregulation and market liberalization based on neoclassical economic principles.

Uploaded by

blahblahblah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Neoliberal Theory

–
Just as modernization theory was losing
its prominence in
academic circles, many countries were
rediscovering the ideals of
free trade and free markets
–
The intellectual basis for neo-liberal
theory comes from neo
classical economics, which combines
arguments supportive of free
Competing
market

Perspectives on Global
Divide
–
Neo-liberal scholars suggest little role for
the government in
managing the economy
–
They advocate reduced government
spending, and encourage
free market to attract foreign investment
and technology
–
Neo-liberal policy prescriptions: (1)
privatization, (2)
deregulation, and (3) market liberalization

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