Neoliberalism is an economic and political strategy the believes globalization can only succeed with the principle of free trade. These types of people emphasize the reduction of restraints on international economic institutions so that free trade can occur. They believe if this is put into practice, it will be easier for all countries to profit from international trading. The article gives an example of the free trade system in Mercosur, South Africa where tariffs and restrictions are eliminated.However, the counterpoint to the neoliberalist ideology is that this type of free trade will not help, but only hurt smaller, poorer countries. It will benefit Western industrialized countries, but that is all. I agree with the more conservative ideology, that some regulation is needed. If there are no restrictions on richer countries, exploitation will most likely take place, making the wealth companies and countries richer, and the less developed countries poorer. I believe there needs to be a balance between this conservative ideology that relies on government regulation and the neoliberalist thought that only stresses free trade. My questions are, how do economic institutions such as the World Bank and UN branches think about these ideologies?
We also talked about copyright laws again in class on Wednesday. Although I think that there should be some freedom to be creative and expand on others ideas, there should be a limit. I stick by the Beatles theory, that if a band or artist is known for their sound, it should be illegal to copyright that music.