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The Economic Change Within The Development And The Market

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This essay argues that development and the market have become intertwined due to an ideological shift toward neoliberalism. Neoliberalism is commonly associated with particular economic reforms such as de-regulation, trade liberalisation and privatisation (Boas and Gans-Morse, 2009). It is important to focus upon this shift, as the neoliberal ideology has dominated the development discourse since the 1970s. The development industry had been focussed upon a Keynesian state led philosophy since its inception after the Bretton Woods Conference in 1944 (Helleiner, 1996). The role of the state in development began to alter after the 1970s as development became influenced by the neoliberal doctrine. There has been a radical change within the…show more content…
Peet and Hartwick (2009) emphasise this by detailing the numerous scientific theories of development which have existed throughout history. Overall they argue development is a process which aims to achieve, “a better life for all of us” (Peet and Harwick, 2009:1). Whereas Cornbridge (2002:188), conceptualises development as the removal of un-freedoms, “Sen argues that individuals must be able to choose their own accounts of the good life and thus resist the drive to normalisation”. Development is not conceptualised and implemented in an apolitical vacuum, it is always political. “Development has never been a scientific concept, it has always been an ideology” (Friedmann, 1992:5). The approaches taken within development depend upon the political context within certain nations. The United Kingdom and the United States both share a similar conservative, market led political approach which began in the 1970s. Neoliberalism is a global phenomenon which is sweeping through global politics and social life (Igoe and Brokington, 2007). Increasing the role markets play in development. Central to neoliberal thinking is the belief that resource allocation is most efficient when a market framework is utilised. Another way development is increasingly aligning to neoliberal thinking can be seen from the fact that neoliberalism commonly refers to a ‘development model’ (Boas and Gans-Morse, 2009). This
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