Important social transformations under neo-liberalism
anything can be marketized
a greater emphasis on efficiency
The economy can mitigate human errors or irrational choices
under capitalism everyone can have, over time, access to wealth through development.
value on interstate cooperation and international institutions.
Proponents of neo-liberalism
Mont Pelerin society (1947)
promote ideas of liberalism
famous member Milton Friedman
The Chicago boys
group of students who spread neoliberal ideology through the world and were taught at the University of Chicago, or who worked directly under Friedman
Is Neoliberalism in the clear? No
The 2008 financial crisis prompted by the unregulated (and some would say immoral) practices of financial institutions. To prevent further shocks on the international economy, the United States had to step in and buy banks and mortgage lending institutions.
These actions go directly against pure neoliberalism
Activists actively protest that Neoliberalism is undemocratic and not transparent. In reaction to meetings at Davos of the G7 countries and the World Economic Forum, those against neoliberalism have launched the World Social Forum.
Politically?
Neoliberalism has a strong belief in individual freedom. 18th century liberals believed that democracy and free, unfettered commerce would bring peace and prosperity.
Contemporary politics
End of History Thesis by Francis Fukuyama
The West has won
G.W. Bush Foreign policy
War justifiable if states engage in criminal behavior toward its population, routinely disrespects human rights
