Neo-Liberalism: the Orthodox view of Globalization

What is Neoliberalism? Broadly speaking, neoliberalism is today's pervading socio-economic ideology that stresses the expansion of commercial activity into public and non-commercial aspects of society. Neoliberalism refers to a range of economic policies that stresses the free flow of goods, services and capital across national borders; deregulation and liberalization of the economy; privatization of industry; financialization by increasing the role of domestic and foreign private investment; and corporatization of the public sector (re-organizing the state sector to resemble a corporate governance structure). The theory of neoliberalism is grounded in the classical liberal belief that free markets are naturally in equilibrium, that the expansion of free trade and the facilitation of capital accumulation leads to pareto efficient outcomes (maximizes the common good of all parties involved) and argues that unregulated private business is the most efficient form of economic enterprise. This mindset views national borders and states with suspicion, perceiving them to be "interventions" that distort the international market by inhibiting or limiting the free flow of capital, labor, goods and services in the international market, thereby leading to inefficient outcomes. Neoliberalism is contrasted with earlier forms of capitalism, such as "embedded" liberalism, state-interventionism and the European social market models that mixed moderate levels of state-directed investment <b>...</b>
Neo-Liberalism Economic Liberalism Capitalism Global capitalism globalization corporate capitalism corporation big business lassiez-faire world trade organization G8 world bank united nations managed trade free trade liberalization privatization Structural Adjustment Program third world debt financialization deregulation













































