Neoliberalism Blog

Jorge Larach
12/13/19
GPHC
GPHC Neoliberalism Theory of Development
Neoliberalism is the socio-economic idea that there should be privatization, deregulation,
free-trade market, and reductions in government spending. This development theory became
popular during the 80s and 90s when there was a giant push for it by UK Prime Minister
Margaret Thatcher and US President Ronald Reagan. Neoliberalism is the resurgence of ideas
and theories proposed during the enlightenment and the founding of the United States during
the 18th century. Little government interference, unrestricted market and trade, and more
protagonism on private sectors were some of the founding principles of the establishment of the
US, and these ideas resurfaced during the latter half of the 20th century. An example of
neoliberalism in practice is that of Chile in the late 1970s under the military dictatorship of
General Pinochet. Pinochet adopted free market policies, including privatisation, deregulation,
and reduced government intervention. Some cite the adoption of neoliberalism to lead to the
“Miracle of Chile”, an economic boom of the country which raised its GDP far above the national
average, while others argue that Chile’s growth is actually a failure of neoliberalism, arguing
that there is little net economic growth during the “miracle of Chile”. One criticism of
neoliberalism is the implementation of free market ideals in public sectors, such as health and
education, because it can lead to widening inequality and under-provision of institutions
important to society. 

Comments

Post a Comment

Popular posts from this blog

COVID-19 Blog

As the coronavirus rages on, an important question arises: should western countries aid the so-called "third world," particularly Africa, in combating the pandemic? I believe the answer is no, for two main reasons. My first objection is rather obvious: the United States currently has more confirmed COVID cases than all of Africa combined, and it isn't close. There are several possible explanations, including the warmer weather, but the exact reason isn't necessarily relevant. After a domestic coronavirus response which can only be described as a disaster of earth-shattering proportions, who are we to go on an international health crusade? There are millions of vulnerable Americans who are currently unable to receive adequate care. Our resources need to be going to them first, not abroad, and most certainly not to parasitic, too-big-to-fail corporations. My second objection: when was America's last successful large-scale international intervention, viole...
Read more

SARS CoV-2, COVID-19, and The World

It's no secret that right now the SARS CoV-2 is wreaking havoc across the world. As of today, the United States has surpassed China as the nation with the most cases of the novel coronavirus, with over 86,000 cases in our country to date. This is all pretty crazy, especially considering that this is all because of a pathogen that supposedly started with either bats or pangolins (the only mammal in the world known to have scales) in a small localized region of China. Of course, it's not only the health effects that are wide-reaching; the social effects are also just as prevalent. One of the ways in which the world is rapidly changing in regards to social effects is through panic buying of goods at places such as supermarkets and hypermarkets such as Walmart. However, the good news is that food in general is not going to run out; there may be shortages of certain particular items, nevertheless, as certain nations have curtailed exports. What is bound to change, possibly permanent...
Read more

COVID-19 Blog

As the spread of COVID-19 becomes greater many opinions on how to respond to this global pandemic have surfaced. Just a few months ago much of the population in the United States felt unthreatened by the virus as it spread through China, being concentrated in Wuhan, and later spreading in Europe. It was not until the virus quickly erupted in the United States that we each understood the true severity of this pandemic. Now we are seeing how individuals are being greatly impacted by this virus as we are all being asked to stay home and the everyday parts of our lives have been flipped upside down. In the opinion piece about what responsibility developed countries have for helping less developed countries I both agreed and disagreed. My initial response is that if places, like the United States, are struggling with medical resources how can we even begin to be helpful in less developed countries. Hospitals all throughout the United States are beginning to have to make life or death decisi...
Read more