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Your assignment is to prepare and submit a paper on neoliberalism and development of economically progressive countries.
Your assignment is to prepare and submit a paper on neoliberalism and development of economically progressive countries. The main points for neo-liberalism include the liberation of markets for free enterprise or private enterprise from any bonds or regulations that may be imposed by the government no matter the social consequences and the cutting of public expenditure for social services like healthcare and education (Elyachar 8). It also includes the deregulation or the reduction of government regulation on any factor that may reduce the profits earned by a person and the protection of job security and the environment. The neo-liberalism may also include privatization or the sale of state-owned enterprises to the private sector as well as the elimination of the concept of public good or community and focusing on individual responsibility. Around the world, neo-liberalism has imposed on countries especially the least developed ones by powerful institutions like the World Bank and the International Monetary Fund (IMF) amongst other institutions. This was meant to spur the development of the economies of these nations but at times, neo-liberalism has engendered a new understanding of development in these nations.
Neoliberalism is a theory that proposes that the human-beings can be liberated through individual entrepreneurship through a free market and free trade but at times, this may become difficult to achieve depending on the politics and the proper understanding of the developmental interventions. .
The whole point of neo-liberalism is usually that the market mechanism should be allowed to direct the fate of the citizens of the nation and that the economy should dictate the rules to the society and not the converse (West 132). The question, therefore, is that how can the World Bank and the IMF intervene at will and force nations to participate in the world economy on basic terms that have been deemed unfavorable in the name of neo-liberalism. The concept of neo-liberalism has therefore taken root in nations because the neoliberals have established a wider and impenetrable network of foundations, institutes, and scholars amongst other facilitation to push their ideas and doctrines in relentless fashion towards the targeted nations.
