The Genealogy And Origin Of Neoliberal Globalization

The genealogy or origin of neoliberal globalization began in the second half of the 20th century. Neoliberalism came into existence as form of government in many countries around the world. Neoliberalism is essentially a reassertion of class power where the rich become richer and with the removal of bureaucratic and state hurdles one is able to facilitate and strengthen the deregulation of capitalism. To the individual, neoliberalism implies that rationality, individuality, and self-interest guide all actions. It’s viewed as a global social science capable of explaining human behavior since all behavior is in fact thought to be directed by logical, individualistic, and selfish goals. The foundational roots of neoliberalism were planted by a political economy theory which advocated for markets to be completely liberated from any type of governmental interference. These markets would be free from competition and free enterprise was promoted which would allow for economies to grow. Neoliberal ideas have drastically changed how states operate for starters by promoting a market-based economy that values competition and efficiency. Neoliberalism has also directly led to the economic rationalization of the state, the restructuring of state sectors, and the dismantling of the welfare state. However, there were in fact many consequences of these changes. For example, the U.S. and U.K. have seen consequences in the form of abolishment of subsidies and tariffs, the corporatizationShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesyears of little significance. But there is little agreement over when the twentieth century c.e. arrived, and there were several points both before the year 2000 (the collapse of the Soviet Union, the reunification of Germany, the surge of globalization from the mid-1990s) and afterward (9/11, or the global recession of 2008) when one could quite plausibly argue that a new era had begun. A compelling case can be made for viewing the decades of the global scramble for colonies after 1870 as