Neo-Liberalism


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Neo-Liberalism

A political philosophy that favors free trade, globalization, and openness to the free market. The term is used frequently in an international context, but it may also refer to the politics of a single country. Neo-liberalism advocates floating exchange rates, the reduction or elimination of tariffs, privatization of nationalized companies, and similar practices. International organizations well-known for advocating neo-liberal policies include the International Monetary Fund and the World Trade Organization.
References in periodicals archive ?
Neo-liberalism caters for the first, Marxism for the second, but societies built solely on either principle are in some sense dehumanising.
To take up the Compass definition is to see neo-liberalism as a set of policies.
Scanlon's schema is largely informed by Fine's, which in turn is based upon a critique of social capital that assumes a connection with neo-liberalism that is based upon Coleman and his synthesis of social exchange theory with rational choice theory.
What is neo-liberalism and what is its historical importance?
Politics is in the process of being militarised as globalisation and the willing embrace of neo-liberalism reduces the capacity of states to intervene economically to promote the welfare of citizens.
Danny Boyle, in a couple of hours, did more to assert democratic socialist values over neo-liberalism than the UK Labour Party has managed to do in almost 40 years.
In the Strange Death, he extends the argument to claim that under corporate-dominated neo-liberalism 'democracy is joined by the market as a kind of victim' (Crouch, 2011, ix).
While the World Bank could not claim a total victory, they could claim significant inroads in a country which once mimicked social democracy in Scandinavia in the era before neo-liberalism, after which both Costa Rican and Scandinavian social democracy joined social democracy everywhere in at least a partial embrace of neo-liberalism and welfare state cutbacks.
Similarly, a range of speakers suggested that the fight against neo-liberalism needed to be 'taken back' and waged at the national level, declaring that a reinvigoration of national politics would be an appropriate future strategy for contesting neo-liberalism.
But having identified the neo-liberal turn as pivotal, Wacquant struggles to get to the bottom of what neo-liberalism is really about and what its emergence as a hegemonic project means for criminal justice developments and wider public policy.
Beginning with an analysis of us foreign policy towards Iraq, which us neo-cons view as a massive laboratory for trying out all sorts of new policy initiatives (like the much-vaunted "flat tax," of which they are much enamoured), together with a recounting of how other countries in the Global South were used for similar such experimentation (witness Chile after 1973, with the Chicago Boys' tinkerings), Harvey proceeds to explore how neo-liberalism has served to transfer massive amounts of wealth from the Global South to the Global North, especially the us.
11) The result, Chomsky concludes, is that neo-liberalism is the `immediate and foremost enemy of genuine participatory democracy'.