Thursday, September 8, 2016

Neo Liberalism - Defined

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 Steagals 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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