Neoliberalism And Capitalism And Privatization Essay

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INTRODUCTION In recent history, neoliberalism has become engrained in the very fabric of our society. It encompasses every intricacy of modern day life and its importance can be measured in many ways. Not least the volume of debate surrounding the topic. Economists across the globe have presented conflicting interpretations of the success of neoliberal policy and the degree to which it is responsible for the international financial crisis’s of the past. Prominent neoliberals such as Friedrich Hayek insisted that deregulation, free trade and privatization all contribute to the greatest prosperity for the greatest number. However, other prominent economists such as Joseph Stiglitz argue that neoliberalism produces a ‘market state’ which in turn engenders an environment of instability. Sue McGregor in her publication’ Neoliberalism and Healthcare’ suggests we look for alternatives rather than assume that neoliberalism and globalization are inevitable’(McGregor, 2001, p2). It is therefore my position that we must seek to subdue the notion of entirely unregulated, unrestrained globalization and privatisation. This must be done in order to reassert a greater degree of governmental authority and jurisdiction, enabling support for those who are currently the undeniable ‘losers’ in neoliberalist society. This position will be argued by assessing the impact of neoliberalist policy on the Health Care industry. It will explore the ability for private corporations to amass considerable

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