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Sociology - World > Neo-Liberal > Flashcards

Flashcards in Neo-Liberal Deck (5)
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1
Q

What are the 4 principle of the free market (neo-liberal world)?

A

1) competition
2) deregulation
3) privatisation
4) free trade

2
Q

Quote on capitalism (neo-liberal world)

A

‘Democracy is the worst form of government, except all the others that have been tried’

3
Q

What does free market capitalism do according to neo-liberal theory? (Neo-liberal world)

A

Drives up standards, creates choice, multiplier effect and improves profit

4
Q

What is the invisible hand? (Neo-liberal world)

A

If society uses completely unregulated capitalism, poor countries will be aided in the long term

5
Q

What is the infant industry argument? (Neo-liberal world)

A

Finding a happy medium between over-caring for the LEDC’s and placing them in an environment of competition where they will defiantly fail