Is Neoliberal Globalization A System Of Smoke And Mirrors Where The Basic Instability And Unsustainability Of The Whole System
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“Neoliberal globalisation has been a system of smoke and mirrors where the basic instability and unsustainability of the whole system has been covered up by the credit bubble”. Discuss
In this research paper I am going to discuss the extent to which neoliberal globalisation has been a system of smoke and mirrors where the basic instability and unsustainability of the whole system has been covered up by the credit bubble. I will firstly attempt to define what neoliberal globalisation is, and explain how it has spread globally. I 'll then outline examples of the effect this has had on countries, and how it has led to the growth of unregulated corporations. Next, I 'll try to clarify the key link that exists between neoliberal economies and…show more content… Neoliberalism believes strongly in having an up to date free market, It focuses on the principle of having a free market with nationalised institutions transforming to become private entities, this leads to most if not all public institutions being sold off to private investors. It also believes in reducing the helping hand of government by cutting public services and removing social initiatives such as unemployment and disability payment. Neoliberalism also believes that to create a truly free market, there must be no regulation of it; this allows the market to generate as much profit as possible. Individual responsibility is a key aspect of neoliberalism, as it ensures that the government can be relinquished of its responsibility to provide for the poorest in society, this forces the poorest to pretty much fight to survive due to no state healthcare, education or social security. Capitalism is one of the most important aspects of neoliberalism, it allows anyone to achieve their goals if they have the determination to follow it through.
Neoliberal globalisation is therefore the global expansion of neoliberal economic theory; this has resulted in the formation of a global economic system which operates with oversight from neoliberal economic institutions such as the International Monetary Fund and