UNIT 4. (8. NEOLIBERALISM) Flashcards
Who are some representative figures associated with neoliberalism?
Some representative figures associated with neoliberalism include Friedrich Hayek, Milton Friedman, Ludwig Von Mises, and James M. Buchanan.
What are the main premises and obstacles of neoliberalism?
The main premises of neoliberalism include sustained economic growth, trust in the free market, minimal state intervention, and a shift of power from the government to the private sector. The main obstacle for neoliberals is state participation.
What were the origins of neoliberalism?
Neoliberalism originated in the 1980s, commonly associated with the mandates of Reagan (USA) and Thatcher (UK). Their politics were known as Reaganomics and Thatcherism, characterized by tax cuts, decreased social spending, deregulation of domestic markets, privatization, and limiting the role of the government.
What is the context of development in neoliberalism?
In terms of development, neoliberalism emphasizes sustained economic growth as the best way to achieve human development. It promotes freedom of trade and capital, minimal state intervention, privatization, reducing government spending, and fiscal austerity.
