Unravel the intricate threads connecting economic theory to global power dynamics in this incisive exploration of neoliberalism and its profound impact on our world. Journey from the hallowed halls of classical liberal economic thought to the concrete realities of 'neoliberal' policies that have reshaped nations and fueled globalization. This book delves into the conceptual history of neoliberalism, dissecting the core tenets championed by influential figures like Friedrich Hayek and Milton Friedman, and scrutinizing the underlying assumptions that underpin this pervasive ideology. Discover how the Mont Pelerin Society served as a crucible for these ideas, and trace their evolution into the policies espoused by the Chicago School of Economics. Explore the pivotal roles of individuals such as Hayek and Friedman in the propagation of neoliberal thought, and examine the implementation of these policies in various political landscapes, including the Pinochet regime, the Reagan era in the United States, and Thatcher's Britain. Grasp the key elements of Chicago School economics, including deregulation, privatization, and stringent fiscal discipline. Understand globalization not merely as a buzzword, but as a complex, multifaceted historical process shaped by power dynamics and intrinsically linked to the ascendancy of modern capitalism. See how neoliberal policies have sculpted globalization, fostering the growth of global trade markets and the commodification of aspects of society previously untouched by market forces. Examine the transformation of the state, from a protector of national interest (Raison d'État) to an actor in the global arena (Raison du Monde), and grapple with the paradoxes and complexities inherent in these sweeping historical shifts. This book provides a critical lens through which to examine the interaction effects of neoliberalism and globalization on the state and global markets, providing invaluable insights into the forces shaping our contemporary world. Keywords: Neoliberalism, globalization, classical liberalism, free market, limited government, Hayek, Friedman, Chicago School, privatization, deregulation, political economy, modern capitalism, Raison d'État, Raison du Monde.
Table of Contents
- Introduction
- From classical liberal economic convictions to actual 'neoliberal' economic policies
- A conceptual history
- Friedman's underlying assumptions
- Neoliberalism and Globalization
- Conceptualizing Globalization
- Neoliberalism as economic and political policies
- Interaction effects – the competitive state and global markets
- Conclusion
Objectives and Key Themes
This essay aims to define neoliberalism and explore its relationship with globalization. It traces the historical development of neoliberal economic policies from classical liberal roots, examining the underlying assumptions of this economic philosophy. The essay then analyzes the implementation of neoliberal policies, their connection to globalization, and the resulting interaction effects on the state and global markets.
- The historical development of neoliberalism from classical liberal thought.
- The underlying assumptions of classical neoliberal economics.
- The relationship between neoliberalism and globalization.
- The interaction effects of neoliberalism and globalization on the state and global markets.
- The role of key figures like Hayek and Friedman in shaping neoliberal thought and policy.
Chapter Summaries
Introduction: The introduction establishes the essay's central question: What is neoliberalism, and how is it related to globalization? It introduces critical perspectives on neoliberalism, highlighting concerns about the power of transnational corporations and the widening gap between the wealthy elite and the majority. The introduction sets the stage for exploring the historical development and the interplay between neoliberalism and globalization, framing neoliberalism as a significant shaping force in modern society.
From classical liberal economic convictions to actual 'neoliberal' economic policies: This chapter traces the historical evolution of neoliberalism. It begins by exploring the conceptual history of the term, noting its origins in earlier classical economic theories and highlighting the significant role of figures like Friedrich Hayek and his contributions to the Mont Pelerin Society. The chapter also analyzes the underlying assumptions of classical neoliberal economics, particularly Hayek's emphasis on free markets, individual liberty, and limited government intervention. It contextualizes Hayek's ideas within the historical context of the interwar period and highlights the interplay between economic and political factors in shaping neoliberal thought. Further, the chapter explores the transition from intellectual theories to practical policy implementation, focusing on the role of Milton Friedman and the Chicago School of Economics in shaping neoliberal economic policies during the late 20th century, specifically under the Pinochet regime and subsequently in the United States and the United Kingdom under Reagan and Thatcher respectively. The section details the core tenets of Chicago School economics, such as deregulation, privatization and fiscal discipline.
Neoliberalism and Globalization: This chapter focuses on the relationship between neoliberalism and globalization. It begins by defining globalization as a multifaceted historical process with various power dynamics. The chapter then examines how neoliberal policies have shaped globalization and vice-versa, analyzing the transformation of the state from Raison d'État to Raison du Monde. It explores how both phenomena are linked to the rise of modern capitalism, encompassing the growth of global trade markets and the commodification of previously uncommodified aspects of society. The chapter emphasizes the need to understand the paradoxes and complexities of these historical developments.
Keywords
Neoliberalism, globalization, classical liberalism, free market, limited government, Hayek, Friedman, Chicago School, privatization, deregulation, globalization, political economy, modern capitalism, Raison d'État, Raison du Monde.
Häufig gestellte Fragen
What is the purpose of this document?
This document is a language preview of an academic essay about neoliberalism and globalization. It includes the table of contents, objectives, key themes, chapter summaries, and keywords intended for academic use to analyze the themes. It is OCR data provided by a publishing company.
What is neoliberalism, according to this preview?
Neoliberalism is presented as an economic and political philosophy with roots in classical liberalism. It emphasizes free markets, limited government intervention, deregulation, privatization, and fiscal discipline. The preview explores its historical development, particularly the influence of figures like Hayek and Friedman, and its relationship to globalization.
What are the key themes explored in the essay?
The key themes include the historical development of neoliberalism from classical liberal thought, the underlying assumptions of classical neoliberal economics, the relationship between neoliberalism and globalization, and the interaction effects of neoliberalism and globalization on the state and global markets. The role of key figures like Hayek and Friedman is also examined.
What is the relationship between neoliberalism and globalization, according to the preview?
The preview indicates that neoliberal policies have shaped globalization and vice-versa. It explores how neoliberalism and globalization are linked to the rise of modern capitalism, the growth of global trade markets, and the commodification of society. It also examines the transformation of the state in this context.
Who are the key figures mentioned in relation to neoliberalism?
The key figures mentioned are Friedrich Hayek and Milton Friedman. Hayek's contributions to the Mont Pelerin Society and his emphasis on free markets and individual liberty are highlighted. Friedman's role in shaping neoliberal economic policies through the Chicago School of Economics is also discussed.
What are some of the keywords associated with this essay?
The keywords associated with the essay include neoliberalism, globalization, classical liberalism, free market, limited government, Hayek, Friedman, Chicago School, privatization, deregulation, political economy, modern capitalism, Raison d'État, and Raison du Monde.
What does the essay cover regarding the "Introduction" chapter?
The introduction establishes the essay's central question: What is neoliberalism, and how is it related to globalization? It introduces critical perspectives on neoliberalism, highlighting concerns about the power of transnational corporations and the widening gap between the wealthy elite and the majority.
What does the essay cover regarding the "From classical liberal economic convictions to actual 'neoliberal' economic policies" chapter?
This chapter traces the historical evolution of neoliberalism from its roots in classical economic theories, noting the roles of figures like Hayek. It analyzes the underlying assumptions of classical neoliberal economics, focusing on free markets and limited government, and explores the transition to policy implementation through Friedman and the Chicago School, particularly under regimes like Pinochet and the policies of Reagan and Thatcher.
What does the essay cover regarding the "Neoliberalism and Globalization" chapter?
This chapter defines globalization as a multifaceted historical process and examines how neoliberal policies have shaped globalization and vice-versa. It analyzes the transformation of the state and how both phenomena are linked to the rise of modern capitalism.
- Quote paper
- Pascal A. Nonnen (Author), 2017, What is 'neoliberalism', and how is it related to globalization?, Munich, GRIN Verlag, https://www.grin.com/document/388415
