Paper Summary:

According to sociologists, since the 1970s, market-based economic policies have been institutionalized as a nearly global policy paradigm embodying first, liberalism, and later, neo-liberalism. The purpose of this report is to discuss the theories of liberalism and neo-liberalism in studying international politics and to identify the limitations of these approaches.

From the Paper:

"In neoliberalism, which developed in the final decades of the twentieth century, a set of economic principles became part of the accepted framework for thinking about and acting upon both the economy and the relations of states to one another. Neoliberalism assumed that a positive outcome both economically and politically would be generated through a wave of reforms - privatizations, dismantling of social welfare programs, the retreat of the state from economic regulation, tax cuts, and the opening of national boundaries."

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