Effect of Neoliberalism or the Shift to a Neoliberal Philosophy on Cities

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Effect of Neoliberalism, Or the Shift to a Neoliberal Philosophy on Cities
Neoliberalism is a concept in social studies and economics. It occurs when control of economic factors shifts to the private sector from the public sector. Neoliberalism is driven by the desire to expand and intensify the market. This is achieved by increasing the frequency, number, and repeatability of transactions. The main aim of neoliberalism is the attainment of a nation where every market transaction is carried out in competition with other actions. These actions affect the other subsequent actions and occur in an infinitely short time. The key aspects in neoliberalism that affect cities are highlighted below.
Rule of the market: The global scale market economy has been in existent for a long time. This has prompted neoliberals to search for new market areas. Both private and free enterprises are liberated from the government bonds regardless of the effect it has on society (Harvey, 1978). This will create greater openness to investment and international trade. There will also be zero price controls. In neoliberalism, a free market is not a free market if the shops are closed even before midnight. A 24-hour economy is what will result in ultimate satisfaction. Property emphasis has been replaced by an emphasis on contract (Harvey, 1978). An unregulated market is the solution to increased economic growth. The benefits are equally shared in the society.
Mobility does not signify economic growth.
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