Neoliberalistic Ideology

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A Neoliberalistic Ideology is a political-economic free-market ideology that aspires to human well-being by liberating individual entrepreneurial freedoms and skills within an institutional framework characterised by strong private property rights, free markets, and free trade.

References

2016

  • Cornel West. (2016). “[1].” In: The Guardian.
    • QUOTE: The neoliberal era in the United States ended with a neofascist bang. … shattered the establishments … wedded to the rule of Big Money and to the reign of meretricious politicians. … For 40 years, neoliberals lived in a world of denial and indifference to the suffering of poor and working people and obsessed with the spectacle of success. …

2016

  • (Wikipedia, 2016) ⇒ http://wikipedia.org/wiki/neoliberalism Retrieved:2016-4-15.
    • Neoliberalism (or sometimes neo-liberalism) [1] is a term which has been used by many scholars in a wide variety of social sciences and critics primarily in reference to the resurgence of 19th century ideas associated with laissez-faire economic liberalism beginning in the 1970s and 1980s. Its advocates support extensive economic liberalization policies such as privatization, fiscal austerity, deregulation, free trade, and reductions in government spending in order to enhance the role of the private sector in the economy. [2] [3] [4] [5] [6] [7] Neoliberalism is famously associated with the economic policies introduced by Margaret Thatcher in the United Kingdom and Ronald Reagan in the United States.[2] The transition of consensus towards neoliberal policies and the acceptance of neoliberal economic theories in the 1970s are seen by some academics as the root of financialization, with the financial crisis of 2007–08 one of the ultimate results. [8] [9] [10] The definition and usage of the term has changed over time. It was originally an economic philosophy that emerged among European liberal scholars in the 1930s in an attempt to trace a so-called 'Third' or 'Middle Way' between the conflicting philosophies of classical liberalism and socialist planning. [11] The impetus for this development arose from a desire to avoid repeating the economic failures of the early 1930s, which were mostly blamed on the economic policy of classical liberalism. In the decades that followed, the use of the term neoliberal tended to refer to theories at variance with the more laissez-faire doctrine of classical liberalism, and promoted instead a market economy under the guidance and rules of a strong state, a model which came to be known as the social market economy. In the 1960s, usage of the term "neoliberal" heavily declined. When the term was reintroduced in the 1980s in connection with Augusto Pinochet's economic reforms in Chile, the usage of the term had shifted. It had not only become a term with negative connotations employed principally by critics of market reform, but it also had shifted in meaning from a moderate form of liberalism to a more radical and laissez-faire capitalist set of ideas. Scholars now tended to associate it with the theories of economists Friedrich Hayek and Milton Friedman. Once the new meaning of neoliberalism was established as a common usage among Spanish-speaking scholars, it diffused into the English-language study of political economy. Scholarship on the phenomenon of neoliberalism has been growing. [12] The impact of the global 2008-09 crisis has also given rise to new scholarship that critiques neoliberalism and seeks developmental alternatives.
  1. ↑ See, for example, "Contesting Neo-Liberalism",of Studies in Political Economy, Vol 63 (2000)
  2. ↑ 2.0 2.1 Campbell Jones, Martin Parker, Rene Ten Bos (2005). For Business Ethics. Routledge. ISBN 0415311357. p. 100: *"Neoliberalism represents a set of ideas that caught on from the mid to late 1970s, and are famously associated with the economic policies introduced by Margaret Thatcher in the United Kingdom and Ronald Reagan in the United States following their elections in 1979 and 1981. The 'neo' part of neoliberalism indicates that there is something new about it, suggesting that it is an updated version of older ideas about 'liberal economics' which has long argued that markets should be free from intervention by the state. In its simplest version, it reads: markets good, government bad."
  3. ↑ Gérard Duménil and Dominique Lévy (2004). Capital Resurgent: Roots of the Neoliberal Revolution. Harvard University Press. ISBN 0674011589 Retrieved 3 November 2014.
  4. ↑ Thomas I. Palley (May 5, 2004). From Keynesianism to Neoliberalism: Shifting Paradigms in Economics. Foreign Policy in Focus. Retrieved November 11, 2014.
  5. ↑ Jonathan Arac in Peter A. Hall and Michèle Lamont in Social Resilience in the Neoliberal Era (2013) pp xvi-xvii *The term is generally used by those who oppose it. People do not call themselves neoliberal; instead, they tag their enemies with the term.
  6. ↑ Collins English Dictionary – Complete and Unabridged © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003
  7. ↑ "Neo-Liberal Ideas". World Health Organization.
  8. ↑ Manfred B. Steger and Ravi K. Roy, Neoliberalism: A Very Short Introduction, (Oxford University Press, 2010), ISBN 019956051X, p. 123
  9. ↑ Gérard Duménil and Dominique Lévy, The Crisis of Neoliberalism, (Harvard University Press, 2013), ISBN 0674072243
  10. ↑ David M Kotz, The Rise and Fall of Neoliberal Capitalism, (Harvard University Press, 2015), ISBN 0674725654
  11. ↑ Philip Mirowski, Dieter Plehwe, The road from Mont Pèlerin: the making of the neoliberal thought collective, Harvard University Press, 2009, ISBN 0-674-03318-3, p. 14-15: "An understanding of neoliberalism needs to take into account its dynamic character in confronting both socialist planning philosophies and classical lassiez-faire liberalism, rather than searching for timeless (essentialist) content."
  12. ↑ Timothy Shenk (April 2, 2015). Booked #3: What Exactly is Neoliberalism? (Interview with political scientist Wendy Brown) Dissent. Retrieved April 16, 2015.

2016

  • George Monbiot. (2016). “Neoliberalism – The Ideology at the Toot of all our Problems."
    • QUOTE: Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that “the market” delivers benefits that could never be achieved by planning. … As Tony Judt pointed out in Ill Fares the Land, Hayek forgot that vital national services cannot be allowed to collapse, which means that competition cannot run its course. Business takes the profits, the state keeps the risk. … What the history of both Keynesianism and neoliberalism show is that it’s not enough to oppose a broken system. A coherent alternative has to be proposed. ...

2007

  • (Harvey, 2007) ⇒ David Harvey. (2007). “A Brief History of Neoliberalism.” Oxford University Press, USA,
    • QUOTE: ... Neoliberalism is in a first instance a theory of political economic practices that proposes that human well-being can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterised by strong private property rights, free markets, and free trade. The role of the state is to create and preserve an institutional framework appropriate to such practices. The state has to guarantee, for example, the quality and integrity of money. It must also set up those military, defence, police, and legal structures and functions required to secure private property rights and to guarantee, by force if need be, the proper functioning of markets. Furthermore, if markets do not exist (in areas such as land, water, education, health care, social security, or environmental pollution) then they must be created, by state action if necessary. But beyond these tasks the state should not venture. State interventions in markets (once created) must be kept to a bare minimum because, according to the theory, the state cannot possibly possess enough information to second-guess market signals (prices) and because powerful interest groups will inevitably distort and bias state interventions (particularly in democracies) for their own benefit. ...
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