The Pros And Cons Of Neo Liberalism

The further development of industrialisation led to social and economic inequality. This led to a revision of classical liberal ideas to prevent the spread of ignorance and poverty. It is suggested that modern liberals have betrayed classical liberal ideas as they embrace collectivism and diverge from classical liberalism on issues such as freedom. However, it can be argued that modern liberals have simply built on classical liberal ideas such as its commitment to the individual.

Neoliberalism according to Ritzer is the, “Liberal commitment to individual liberty, a belief in the free market, and opposition to state intervention” (37). Neoliberalism emerged in the 1930s and it is based on the ideas of classical economics (Ritzer, 37). Neoliberalism is harmful to human rights and does not improve the lives of others. On the universal declaration of human rights we can see thirty rights that humans are all entitled to (“The Universal Declaration of Human Rights”). Human rights under articles twenty-two, twenty-three, and twenty-five are all rights that neoliberalism violates.

In the event that the government turns out to be tyrannical, the people have the power and the right to overthrow it and bring appropriate changes for the good of all. However, this change has to be instituted rationally (Riley, 1990).

One has to try as much as possible to try to preserve the rest of humankind from any evil that can happen to the other people. Neo-liberalism emphasizes that all being are equal and independent and no man is supposed to harm each other’s innocent life, health or possession as it recognizes all being as workmanship of on omnipotent (God). Moreover, no man that has the liberty to destroy himself and man should not have more than other hence encourage sharing such thing as power. For example, although people punish each other for transgressions, the offender has the right to seek forgiveness from the offended and can assist the offended to recover from the offended to make satisfaction for the harm he or she suffered. On the other hand, classic liberalism encourages the practice of individualism. For example, the essential feature of individualism from the elements provided by Christianity and the philosophy of classical antiquity was first completely developed during the Renaissance and from that time, it has grown and spread into what is today recognized as Western European civilization. Classic liberalism emphasizes on freedom and liberty hence encouraging men to develop their own individual gifts and bents. Whenever, small one man’s sphere is, he is encouraged to view and observe himself as supreme (Friedrich 7-14).

Neoliberal reforms are, “economic changes focused on opening up the economy to global markets and reducing state spending on social welfare” (Golash-Boza). The U.S. created many neoliberal reforms with South America allowing for the trade of American goods. One very well know reform would be the North American Free Trade Agreement (NAFTA). This reform eradicated tariff barriers between Mexico and the U.S. and caused mass unemployment in Mexico. The eradication of tariffs meant that Mexican farmers were unable to compete with the prices of

Typically Liberalism can be categorized into two different strands, Classical and Modern (yet some thinkers advocate a third strand that is referred to as Neo-Liberalism), each characterized by their differing and to some extent unavoidably overlapping attitudes regarding the theory behind the ideology and how it should be put into practice. Prior to examining how these relate to one another and before making any comparisons, it is important to give a definition, as best as possible, of Liberalism as a concept.

Neoliberalism refers to a political movement that espouses economic liberalism as a means of promoting economic development and securing political liberty.

Within today’s society we are commonly faced with the moral question, what seems logically correct vs what seems ethically correct. It is an inquiry that goes hand in hand with if people are born naturally evil, or if that trait itself is developed over time. However, as a whole the overriding debate is not directed towards human nature itself, but rather to what degree should the government really be involved in our economic system in order to create an accommodating society. Over time human nature has drastically evolved to what it is today, but what is still undeniable is that there has, and likely always will be a division among individuals. Those divisions being based upon class structure. The source given states, “Individuals are, by nature, unique and unequal. Efforts by the state to interfere with the lives of individuals will result in a restrictive and inefficient society.” This is a direct link to the perspectives and ideologies presented with the idea of Classic Liberalism. By definition classic liberalism is an ideology that values individual freedoms in the sense of religion, speech, press, etc, as well as supporting limited government involvement economically. This idea has been supported by many in the past, including philosophers such as John Stuart Mill and Adam Smith. The author of the source is clearly a supporter of right wing economics. They believe in individualism over collectivism, and like many philosophers, they also believe that government is only

The great aspect that Liberals are moving towards are Fairness for the Middle class, and Canada child benefit. They provide money in the pocket of the middle class to save, unlike Conservative’s, Liberals are helping bring back the strengths in our economy. Conservative have failed to recognize the difficulties the middle class have been facing the past three years, well the liberal have made it their top priorities.

Neo-liberalism is a belief of a free market where people can control their lives with as little regulation as possible. It is defined, by google definitions, as “a modified form of liberalism tending to favor free-market capitalism. It ties into the concept to the recent history of women’s groups in Canada because women had many more restrictions then men did and pressure on the government they eventually achieved their goal of equal rights.

Neo-liberalism has had the greatest impact on public policy in New Zealand over the past 20 years. An example of this ideology in policy making in New Zealand history would be The National party in the 1990’s. National significantly reduced the state’s role in the labour market, and introduced markets in public housing and education. A more recent example is the current National government and their benefits policy. In 2008 National focussed on getting beneficiaries into employment. National’s leader John Key announced that they were committing to a benefit policy that would act as a safety net, but encourage beneficiaries to go out and source other forms of income (Key, 2008). This is a neo-liberal idea in the sense of having minimal state intervention. The plan to put in place a tax system that encourages people to work hard and not rely on the welfare state, and the continuing of shrinking the size of government sees that the future intentions of the current National party is going to carry on down a neo-liberal road (Key, 2008).

Neo-liberalism is a political ideology that suggests that ‘human well-being can be advanced by the maximisation of entrepreneurial freedom, characterised by private property rights, individual liberty, free markets and free trade’ (Geografiskar, A 2006). In today’s modern society neo-liberalism is widespread around the globe with various stakeholders offering conflicting views. Some advocates, namely the capitalistic portion of society argue that a liberal market is

The neoliberal era on the other hand, made its debut in 1984 after the defeat of the Trudeau administration and is the era we are in today. Comparable to the Keynesian era, the neoliberal era was a response to the crisis of the Keynesian era in the 1970s and 1980s. The Neoliberal era emerged as a result of the failure of the Keynesian era to deal with the stagflation that arose in the economy as well as the inability of Keynesianism to adapt

Another concept which is introduced is economic liberalism. It is defined as that the states do not intervene in the matters related to economy rather on the individuals. Economic liberalism and neoliberalism are separate entities from liberalism. In oxford English dictionary describes economic liberalism as,

In order to contextualise the similarities and differences between Neo-Realism and Neo-Liberalism, it is necessary to define these key terms and elaborate on where they came from. The former, otherwise known as structural realism, is a brand of realism. Realism is a broad school of thought, developed during the early Cold War and interwar years, that sets out a series of tenets which attempt to explain why the world is the way it is. Hence, it revolves around the