Neoliberalism
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- For the school of international relations, see Neoliberalism (international relations).
Neoliberalism is a label for economic liberalism that describes government policies aiming to promote free competition among business firms within market, notably liberalization and monetarism.[1]
Neoliberalism is associated with the Friedrich Hayek, economics departments such as that at the University of Chicago (and such professors as Milton Friedman and Arnold Harberger), and international organizations such as the International Monetary Fund (none of whom use the label "neoliberal"). In general, neoliberalism represents a move away from the Keynesian economics that were dominant immediately after World War II. The philosophy promotes a "liberalization" of capital markets (thus called "neoliberal reform").
More specifically, neoliberalism promotes a stable currency, a balanced budget, free market capitalism, and free trade. Characteristic aspects include expansion of the market to a 24-hour global trading cycle, contract maximalization, increase in the frequency of contracts, continuous assessment, and derivative markets.
Opponents argue that neoliberalism is the implementation of global capitalism through government/military interventionism to protect the interests of multinational corporations, as well as the effects of free trade on wages and social structures. Notable opponents to neoliberalism in theory or practice include economists Joseph Stiglitz and Amartya Sen, Noam Chomsky,[2] and the anti-globalization movement.
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[edit] See also
- Capitalism
- Economic liberalism
- Free market
- Globalization
- Liberalisation
- Liberism
- Libertarianism
- Neosocialism
- Privatization
[edit] References
[edit] External links
- "Neoliberals covering current US political issues while forming a vision for a new liberal democratic platform."
- "A Skeptic's Guide to the Cross-national Evidence." D Rodrik, F Rodriguez. NBER Macroeconomics Annual, 2000.
- A World Connected
- Brad DeLong
- Commanding Heights
- En defensa del neoliberalismo (Spanish)
- Global Exchange
- Index of Economic Freedom
- Kurt Weyland, "The Politics of Neoliberal Reform in Latin American Democracies: Argentina, Brazil, Peru, and Venezuela," Paper for panel on Democracy and the New Market Model in Latin America XXI International Conference Latin American Studies Association Chicago, September 24-26, 1998
- Neoliberalism: origins, theory, definition
- "Neoliberalism and the creation of 'virtual democracy' in the Global South" Stefan Andréasson March, 2002
- The Last Development Crusade
- What is Neoliberalism? by Dag Einar Thorsen and Amund Lie
- What is Neoliberalism?
- What is Neoliberalism? by Brian Kermath
- "What I Learned at the World Economic Crisis", by Joseph Stiglitz
- World Social Forum
[edit] Online Lectures
- The Neoliberal City, David Harvey
