An examination of the principles of Neoliberalism and its application and the effects of these laws in Latin American countries.
Written in 2002; 732 words; 3 sources; MLA; $ 26.95
Paper Summary:
This paper examines how the term "Neoliberalism" has been used as an umbrella term to denote new applications of the classical liberal ideas dating back to Adam Smith. It looks at how as an economic principle, it has much in common with its liberal roots and how like liberalism, it is rooted in the market and market forces. In particular, it looks at how it allows for the concentration of wealth in the hands of private conglomerates and how this has resulted in a growing disparity between the wealthy and poor. It shows how viewed geographically, this division has occurred along the North-South divide, where corporations from the United States and Western Europe benefit from one-sided economic policies instituted in poorer countries like Mexico, Haiti and countries in Latin America.
From the Paper:
"Even within richer countries like the United States, neoliberalism has resulted in the reduction of public goods and services for the needy. The increasing "corporatization of America" has allowed the private sector more opportunities to shape public policy in their own favor. By virtue of their policy-shaping power and their size, many corporations can now push ?trade deals and other accords down the throats of the world's people, mak(ing) it easier for corporations and the wealthy to dominate the economies of nations around the world.? (McChesney 18)."
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