Neoliberalism: Variations and Perspectives

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is one of the key programmes of neoliberalism in the Global North?

Welfare state expansion

Financialization (correct)

State control of industries

Import replacement strategies

What is considered a major function of neoliberalism in the Global South?

To reduce the influence of the middle class

To fulfill a developmental role (correct)

To promote state-centric command economies

To eliminate international trade integration

According to the literature, what might neoliberal policies in the Global South lead to for small farmers?

Increased support for small-scale farming

Promotion of migration to urban areas (correct)

Reinforcement of land reforms

Strengthening of traditional agriculture practices

What role does the expansion of the middle class play in neoliberalism?

It is key to the success of the neoliberal programme Signup and view all the answers

What is a misconception about the impact of neoliberal programs on the welfare state?

Neoliberalism completely dismantles the welfare state Signup and view all the answers

How do neoliberal policies in the Global South differ from earlier economic strategies?

They prioritize global trade integration Signup and view all the answers

What is a common outcome of neoliberal policies according to the provided discussion?

Aid and hope for economic mobility Signup and view all the answers

What approach did the Congress-led coalition take towards neoliberal interventions?

They framed neoliberal interventions as development programmes Signup and view all the answers

What is the contemporary version of laissez-faire economic principles commonly known as?

Neoliberalism Signup and view all the answers

Which two regions are compared for their variations in neoliberalism?

Global South and Global North Signup and view all the answers

According to Connell and Dados, where did the origins of neoliberalism begin?

Chile and the Global South Signup and view all the answers

What major aspect is most critiqued regarding neoliberal policies in the Global North?

Privatization and de-industrialization Signup and view all the answers

Which economist is NOT associated with the neoliberal ideas that emerged post-World War II?

John Maynard Keynes Signup and view all the answers

What is one of the consequences attributed to neoliberalism in the Global North?

Rollback of the welfare state Signup and view all the answers

Which political leaders are mentioned as proponents of neoliberal policies in the UK and USA?

Margaret Thatcher and Ronald Reagan Signup and view all the answers

What critique does the existing literature on neoliberalism face according to Connell and Dados?

Neglect of Global South policies Signup and view all the answers

Study Notes

Neoliberalism: Definitions and Variations

Neoliberalism is a contemporary version of laissez-faire principles from the 19th century, aiming to restore capitalist power.
Scholars disagree on its details, potentially due to variations between Global North and South policies.
Connell and Dados (2014) argue existing literature skews towards Global North critiques from the late 1970s, overlooking earlier, South-focused economic programs (mid-1970s).

Neoliberalism in the Global North

First approach: Sees neoliberalism as a system of ideas stemming from post-WWII right-wing economists challenging Keynesianism (Harvey, Stiglitz, Klein).
One aspect of this approach looks at neoliberalism through the lens of governmentality which traces the origin of neoliberal idea to that period
Second approach: Views neoliberalism as a capitalist response to crisis, expanding the system through financialization (Dumenil & Levy, Hardt & Negri, Robinson).

Neoliberalism in the Global South

Unlike the North, neoliberal policies in the South present themselves as superior development strategies to previous models.
Aims include:
- Acting as a development model
- Integrating economy with global/international trade
- Fostering global inclusion via ICT.
Often focuses on: converting agriculture to agro-industrial complexes, linking with transnational corporations, and integrating into the global economy.
Not necessarily eliminating subsidies, but potentially ending land reforms/support for small farmers, pushing them into urban informal economies.
Some programs may include social welfare to mitigate negative impacts on the poor but aim to individualize targeting and incorporate people into market systems.
Governments in the South often initially deflect, then frame neoliberal interventions as developmental initiatives, sometimes linking them with social welfare for the poor.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz explores the complex definitions and variations of neoliberalism, focusing on its evolution and impact in both the Global North and South. It examines the differing scholarly interpretations and critiques of neoliberal policies from a historical perspective. Engage with key concepts introduced by notable economists and theorists.