Definition. Neoliberalism.
In addition to an economic policy,
neoliberalism is also a political project.
Important components of neo liberalism are the
consideration of the market as a pre eminent process of decision making.
Markets are privileged and regulations or rules on trade and commerce are
opposed. Advocates of neoliberalism
promote cutting public expenditures such as schooling and health care and social
services. The promote deregulation of markets such as eliminating the Glass
Steagal’s
limits on banking and deregulation of any practice that produces profits for
some.
In many places they promote
privatization of state owned enterprises through private investment, including
energy companies, utilities, and similar companies.
1.
The Rule of the Market which liberates “free” enterprise from any bonds
(regulations) imposed by the government no matter how much social damage this
causes.
2.
Cutting Public Expenditures for social services such as education and health care.
3.
Deregulation of any
policies, practices or laws that could diminish profits, including
environmental protection and worker safety.
4.
Privatization of
state owned enterprises, goods, and services through sales to private investors
5.
Eliminating the Concept of “The Public Good” or “Community” and replacing it with “individual responsibility.”
(Martinez & Garcia, 2000)
6.
Assaults on labor unions.
*The adoption of neo liberal policies by main stream
Democrats helps to explain the anger of a portion of the White working class
and their abandonment of the Democratic Party.
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