Neoliberalism

This article discusses the emergence and the laissez-faire type ideological principles of neoliberalism and responses to it from South America. Neoliberalism emerged in the 1970s and is based on the idea of a gobal economy becoming necessary. Neoliberalists argue that the best way for the global economy to grow is through free international trade and sound budgets. They propose cuts in welfare spending, low inflation, and the deregulation of the financial markets. The problem with this theory is that it caters to the socio-econmic elite whose position is based on transnational mobility. Smaller poor countries will suffer while the wealthier nations will continue to profit. The idea of neoliberalism seems fair enough. It appears to believe that free trade would give all nations the same opportunity for economic growth and power.

This however, is an ideal that I do not believe would ever materialize. If the markets could somehow run themselves without the intervention of the "human aspect" then perhaps this could actually work; but in actuality, the markets are not run separate of human endeavors and soon the agendas of the larger, more powerful countries would overtake the smaller countries and push them further into poverty. Exploitation has been a constant for centuries that would not all of a sudden disappear and allow the markets to run independent of regulation and be fair. How could anyone still be a proponent of this sort of globalization and trade when we are experiencing now the global recession that was caused by no one watching the markets and allowing those in charge to do whatever they pleased?