SUMMARIZE What is the problem? Identify the causes of economic failures of the 1930s, economic stagnation of the 1970s, and underdeveloped of many countries that prompted Milton Friedman and his colleagues to formulate neoliberal policies. ANALYSIS Why is it a problem? Identify the reasons why greater government regulation of the redistribution of wealth is inefficient and totalirian. SYNTHESIS How do we solve the problem? Investigate the rationale of the neoliberal policies to increase the role of the private sector in the economy and society. Milton Friedman recommended economic liberalization,including privatization, deregulation, globalization, free trade, monetarily,austerity, and reductions in government spending on docial welfare and social safety net. EVALUATION Is the neoliberal solution good? Identify the virtues of neoliberal policies. Review the criticism that it failed to address social inequalities. Is the neoliberal solution bad? Identify the vices of neoliberal policies. Review the statement that free market is the most efficient allocation of resources. Review the statement the free market is rational and self-regulating.
SUMMARIZE
What is the problem?
Identify the causes of economic failures of the 1930s, economic stagnation of the 1970s, and underdeveloped of many countries that prompted Milton Friedman and his colleagues to formulate neoliberal policies.
ANALYSIS
Why is it a problem?
Identify the reasons why greater government regulation of the redistribution of wealth is inefficient and totalirian.
SYNTHESIS
How do we solve the problem?
Investigate the rationale of the neoliberal policies to increase the role of the private sector in the economy and society.
Milton Friedman recommended economic liberalization,including privatization, deregulation, globalization, free trade, monetarily,austerity, and reductions in government spending on docial welfare and social safety net.
EVALUATION
Is the neoliberal solution good?
Identify the virtues of neoliberal policies.
Review the criticism that it failed to address social inequalities.
Is the neoliberal solution bad?
Identify the vices of neoliberal policies.
Review the statement that free market is the most efficient allocation of resources.
Review the statement the free market is rational and self-regulating.
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