...said Frank Zappa, the American composer and rock musician and I absolutely agree with him. The dawn of the twenty first century has ushered in a new age of optimism and wonder. Despite the proclamations of television, all is not in well in our part of the world. Our societies have waged a war on drugs, but this war is far from being won. Being fought against our own citizens and citizens abroad, an international effort to eradicate drug production and use has undoubtedly failed leaving in its wake social unrest and political chaos. Assault, property crime, homicidal tendencies, racial and economic marginalization, murder, corruption and many other undesirable things are burning through society fanned by the drug war's cold and inhuman policies. In addition to these problems there are the initial problems that drug users incur on themselves and society; the same ones the drug war was supposed to eliminate. Prohibition is an old idea that is not practically attainable in a democratic society that values individual rights. – short generalization+quotation For one, experiments with the prohibition of alcohol failed miserably and cost many people their lives. If the justification behind the drug war is human health and wellbeing, as governments would have us believe, then refraining from using the police to murder and spy on our citizens would be a good start to solving the problem. A form of regulated legalization of drugs would be a tolerant middle ground that recognizes the inevitability...
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...Assessment 2: Major Essay What is neoliberalism and how is it connected to 'development'? Neoliberalism, quite simply, is defined by David Harvey as the: … theory of political economic practices that proposes that human well-being can be best advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterised by strong private property rights, free markets and free trade... (2007, pg 2) Through this approach, economic and social barriers and constraints are sought to be eliminated to prompt the market towards becoming self-sufficient. Therefore, it is very easy for neoliberalism to hinder the development of economies and society, as imbalances in wealth and living conditions are emphasised and expanded over time. In particular, these imbalances become quite prominent in developing countries, for example, Brazil, where they may begin to take importance over the conditions of the population. Despite this, we are still observing the existence of neoliberalism in the 21st century on an international scale as the globalisation era lingers and development continues to evolve. In the modern world, neoliberalism offers ‘the supporting ideology of globalisation’ and depends on market forces, free trade and laissez-faire government roles to become efficient. (Heron, T. 2008. Pg. 1;Kelleher, A and Klein, L. 2011. Pg. 95) It was in the late eighteenth century when Adam Smith originally formulated the idea that in an economy, priority...
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...development using examples of countries in which they have implemented Neoliberal influenced reforms in order to develop their country. I will then attempt to evaluate my findings to see whether or not the Neoliberal approach is successful or not or is it something which has its weaknesses and strengths and cannot be judged either way. The term Neoliberalism can be defined as a ‘modernised or revised form of liberalism, one based on belief in free market capitalism and the rights of the individual. This is a definition given by the Oxford English Dictionary 1989. In the 1970s Neoliberalism enjoyed increasing popularity and an aspect of the theory we should look at its influence on the Washington Consensus which was an extensive list of economic policies written by John Williamson in 1989. This was a package of standards created to aid countries in economic crisis. Neoliberalism reduces the influence of state and trade unions on markets and reduces the public sector workforce. It also increases in the privatisation of formerly public owned institutions, decreases state interference and opens up markets of an economy to foreign companies. A country which takes on Neoliberal approaches to its economy, in theory should favour strong individual private property rights, rule of law and the institution of freely functioning markets and free trade (Harvey, 2005). There is a criticism to Neoliberalism states as it is described and said to be designed to reduce poverty and other inequalities...
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...ISI Transformation: political changes: Wage increase Improved working conditions Political inclusion in the … Negative of ISI: (characterized by two different stages) Agricultural becomes uncompetitive -exchange rate: money is over-value, the price will be higher than the other countries. Keep the domestic currency strong relative to foreign currencies Need to import capital goods (machinery) to produce consumer goods Overvalued exchange rate made commodity exports artificially expensive and therefore less competitive in the international market - agricultural production and its social consequencs: agricultural production stagnated rural wages declined –migration to the cities migrants resided in urban slums increase in the size of the informal sector Exhaustion of the first stage - limited dynamism 1st stage: production stage : substitution industrialization light industries- the easy phase required little technologies most financed by domestic business 2nd stage: deepening of industrialization required more sophisticated technology and know-how domestic business (main loser) could not finance the second stage multinational corporations were invited to invest in Latin American tensions within populist multi-class coalition Inflation Erodes the purchasing power of currency Affects the poor, who can’t store their wealth in assets that do not lose their value (property) A highly organized and politically mobilized working class demands wage...
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...1. I feel as if the over-arching goal of education policy makers in developed nations is to maintain economic prosperity in the face of globalization and emerging countries, and to do so at an inexpensive cost. In addition to this, I feel like another goal would be to provide education for everyone. Having this equal opportunity gives citizens the education that is required to succeed and give back to the economy for years to come. 2. In developing nations, the goals of education policy essentially fall under the umbrella of “social stability’. This includes building a national culture that leans towards a democratic ethos, as opposed to hyper-nationalism of authoritarianism. They would also like to enhance their economic development by raising their current low value production, to high value. They’d also like to increase human capital and overall health by lowering infant mortality rates, fertility rates, and by slowing population growth. Lastly, they wish to resolve societal tensions and improve social outcomes, in general. This differs from already developed nations because they are trying to build prosperity and infrastructure after years of being an under-developed country. They’re essentially trying to make a “come back” when already developed nations are established, and primarily concerned with maintaining prosperity and infrastructure. 3. Neoliberalism is the philosophy that advocates support for economic liberalizations, free trade, and enhances the role of modern...
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...What impact has neoliberalism had on world politics? Neoliberalism is an economic philosophy that rose in prominence from the eighties following the elections of Margaret Thatcher and Ronald Reagan. Jones, Parker and Bos (2005: 100) summarise the essence of this view as “markets good, governments bad”. Neoliberalism argues that free trade is beneficial to all nations, that governments create inefficiency and waste, and that the distribution of goods should therefore be left to individuals and firms competing in the market to maximise their utility (WHO 2010). To ensure an efficient allocation of resources, neoliberalists argue for widespread liberalisation i.e. the reduction of rules and restrictions, and the privatisation of public enterprises. However, the reality of Neoliberalism has been very different to the theory. Regulation provides the framework within which markets work and enables the moderation of the externalities they produce, thus deregulation was in fact limited and was quickly followed by regulation (Levi-Faur 2005: 13). Because of this, Polanyi (in Peck, 2010: 330) writes: “the road to a free market was opened and kept open by an enormous increase in continuous, centrally organized and controlled interventionism”. In this essay, I look at the impacts of Neoliberalism on World Politics, focusing on two in particular. Firstly I explain that the policies of liberalisation and privatisation, albeit supported by regulation, have led to increasing inequality...
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...miracle can be utilized in Third World nations today and, considering the high success rate of so many of the East Asian economies, would most likely see positive results. The secret to success of East Asian economies is the hand that the government has had in industrial affairs. Starting in the 1950s nations like china began taking steps towards centralized government through reform. One example of this would be the Chinese land reform of the 50s under the new Mao Zedong's communist regime (Blecher, 2010:p.27). This land reform took away the oligarchic control of the landlords, changing the feudalistic policy of landlordism over to a more capitalistic form of socialism in which the government has the control. This is clearly a very vital part of the industrialization process as many nations that have failed with the agrarian reform continue to find themselves struggling to get out of poverty. A modern example of this would be Brazil, where the rural landlords have stalled any sort of reform that might dismantle their rule over peasants farmers and tenants (Kay, 2002:p.1076). The institution of land reform was a vital part of industrialization in East Asia, unlike other nations it was introduced before the economies had gotten on their feet and was therefore a key ingredient in the subsequent success (Kay, 2002:p.1076). Across the board in the Eastern nations the emphasis is seen...
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...Bibliography: Adedeji, A. (1999). "Structural adjustment policies in Africa." International Social Science Journal 51(162): 521-528. Broad, R. and J. Cavanagh (1999). "The death of the Washington consensus?" World Policy Journal 16(3): 79-88. Cleary, S. (1989). "Structural Adjustment in Africa." Trocaire Development Review 1989: 41-59. Dollar, D. and A. Kraay (2001). Trade, growth, and poverty, World Bank, Development Research Group, Macroeconomics and Growth. Escobar, A. (1992). "Culture, economics, and politics in Latin American social movements theory and research." The making of social movements in Latin America: Identity, strategy, and democracy: 65-82. Fine, B. (2002). "Economics imperialism and the new development economics as Kuhnian paradigm shift?" World Development 30(12): 2057-2070. Godard, P.-P. K. and J. H. Williamson (2003). After the Washington Consensus: restarting growth and reform in Latin America, Peterson Institute. Gore, C. (2000). "The rise and fall of the Washington Consensus as a paradigm for developing countries." World Development 28(5): 789-804. Hamilton, C. (1989). "The irrelevance of economic liberalization in the Third World." World Development 17(10): 1523-1530. Harriss, J., et al. (2003). The new institutional economics and Third World development, Routledge. Helleiner, G. K. (1992). "The IMF, the World Bank and Africa's adjustment and external debt problems: An unofficial view." World Development 20(6):...
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...3 Life after Burnham: Economic revival and the obstacles to sustainable development Investigating the factors that have led to significant underdevelopment in Guyana, what practical solutions can be suggested to help improve the economic and political performance of this state? Burnham’s death whilst undergoing throat surgery in 1985 brought a natural end to the PNC’s cooperative socialist regime; a regime that caused two decades of extreme terror and suffering to all in Guyana, as explored in chapter two. The need for change was undeniable and such an event provided Desmond Hoyte ‘with the opportunity to break with some old PNC practices’. The recognition of the need for free enterprise in order to re-stimulate the optimism of a whole population formed the basis of Hoyte’s, and subsequent presidents’, prevailing actions. This chapter sets out to explore the extent to which Guyana has since broken free from the shackles of socialism as a result of various government and international institution-led initiatives, and explores the impact on Guyanese development as a result. By analysing the initial success of the IMF-World Bank backed austerity and recovery program implemented in 1988; CARICOM’s aim to break down the divide between the ‘core’ states and the Caribbean as a ‘peripheral’ region; and the effect of regular financial aid as a result of Guyana’s status as a heavily indebted poor country (HIPC), one quickly realises the apparent commitment of Guyanese governments...
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...conditions of the current day. The recent phenomenon of globalization is in essence a modern form of global hegemony and dominance that establishes control through financial domination and capital exploitation. This paper focuses on this process of domination by examining the effects of neoliberal policies and structural reforms using the nation of Brazil as the unit of analysis. As will be discussed later in this report the government of Brazil has undergone significant structural changes over the last few decades that have resulted in an economic shift towards neoliberal policies. Policies promoting free enterprise capitalism, privatization of national assets, deregulation, tax reforms, flexible interest rates, trade liberalization and reductions in public expenditure have resulted in devastating outcomes for poor and marginalized groups within Brazil. These economic reforms have reordered government priorities resulting in cuts in social spending, worsening of wage inequality, displacement of workers, intensification of national debt and the weakening of labor bargaining and the conditions for meaningful work. The argument that this paper seeks to prove is that neoliberal policies in Brazil have altered political and social structures resulting in economic imbalance and economic, social and cultural human rights infringements. In order to fully understand the impacts of globalization in Brazil it is necessary to examine the process...
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...materials. The report clarifies each member’s interaction and its power residents. This power resident and relationship can be reformed through social agenda setting. There is possibility that power-balanced society in capitalism can be diminished through its change into neoliberalism agenda. This is examined through reviewing Japan’s development in last couple of decade. Contents Table 1.0 introduction..............................................................................................3 2.0 Role and power resident.........................................................................3 2.1 The role and power resident of Government.....................................................3 2.2 The role and power resident of Corporations....................................................4 2.3 The role and power resident of Citizens...........................................................5 3.0 An Interaction of Government, Corporations and Citizens…………6 4.0 Character of social context (capitalism, neoliberalism)…………....7 4.1 A power interaction in Capitalism...................................................................7 4.2 A power interaction in Neoliberalism..............................................................8 5.0 Analyzing power relations in recent decades of Japanese society…10 6.0 Conclusion..............................................................................................12 7.0...
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...ECONOMICS ASSIGNMENT Introduction This assignment is focused on describing neoliberal globalization and identifying that how it has changed the relationship between business and governments. The perspective that what needs to be done in order to ought to the current situation is also discussed and analyzed in this assignment. The suggestions to the government are also provided regarding neoliberalism in this assignment. Neoliberal Globalization Neo-liberalism refers to economic liberalism which has become very important in the international economy (Kotz and David, 1998). Neoliberal globalization is defined as setting up the market free and private enterprises are free from any bonds or regulations imposed by the government of the state (Ong, 2006). Neoliberal globalization mainly promotes the concept of free market economy. The rules of neo-liberal globalization include cutting the public expenditure and reducing the social safety net. It also involves reducing the government regulations or everything that could result in reduction in the overall business profitability of the private enterprises (Harvey, 2005). The state enterprises are sold to the private investors and concepts of ‘public good’ and ‘community’ are eliminated and the individual responsibility is increased. There is a huge criticism that this system usually involves pressing the poorest people within the society which could result in social distress within the society. At the global level, the neoliberal...
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...He defines neoliberalism as “a system that positions the market as the answer to everything” and as a general shift from public services to private market (McRuer 2011). This form of politics assumes that a capitalistic market is irrevocably good and sensible and that market deregulation is the answer to everything while promoting institutions such as marriage and military. For queer people, this leads to a mainstream LGBT focus on market, family, and military-based inclusion rather than ending issues facing queer people of color or queer people living in poverty or transgender people or any queer people who do not want to join these normative institutions. Disabled people are also excluded from these institutions, but it is a different form of exclusion, an exclusion based on the idea that disabled people are not capable of contributing to capitalism and therefore are not truly people within American society. Neoliberalism tends to lead to anti-poverty type measures that supposedly focus on the “causes” of poverty without acknowledging that, without capitalism, there would be no poverty. Both disabled and queer people are more likely to live in poverty, but this does not mean that disability or queerness cause poverty. Only capitalism, neoliberalism, and the globalization of these values have that power. Ruer...
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...Neoliberalism Definitions An approach to economics and social studies in which control of economic factors is shifted from the public sector to the private sector. Drawing upon principles of neoclassical economics, neoliberalism suggests that governments reduce deficit spending, limit subsidies, reform tax law to broaden the tax base, remove fixed exchange rates, open up markets to trade by limiting protectionism, privatize state-run businesses, allow private property and back deregulation. The use of the term "liberal" in economics is different from its use in politics. Liberalism in economics refers to "freeing up" the economy by removing barriers and restrictions to what actors can do. Neoliberalism's policies seek to create a laissez-faire atmosphere for economic development. "Neo" means we are talking about a new kind of liberalism. Main points 1. THE RULE OF THE MARKET. Liberating "free" enterprise or private enterprise from any bonds imposed by the government (the state) no matter how much social damage this causes. Greater openness to international trade and investment, as in NAFTA. Reduce wages by de-unionizing workers and eliminating workers' rights that had been won over many years of struggle. No more price controls. All in all, total freedom of movement for capital, goods and services. To convince us this is good for us, they say "an unregulated market is the best way to increase economic growth, which will ultimately benefit everyone." It's like Reagan's...
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...Counteracting the global economic crisis: values, institutions, policies. When talking about the broad and complicated subject of economic crisis, it is important to mention ideas concerning neutralization of its consequences and prevention of future calamities. The current disturbance in the global economy requires not only to understand how it was initiated, but also how to counteract and draw conclusions from it. The Chinese proverb says: “may you live in interesting times.” These times are now- financial markets are in turmoil, China is rising as economic power, young people from Europe and America are protesting against, what they see as ineffective government and regulations. In next years the world will change even more- also thanks to changes, that will be made as an answer to the global economic crisis- in terms of values, necessary institutions and policies. The first step toward ending the crisis is to introduce new regulations, that would stabilize the market. Since 1980’s the American financial market has been experiencing a long period of deregulation. Although the obvious results of this move- the example can be the deregulation of savings and loans companies, that led to crisis in 1989, the process continued. Decade later, in 1990’s the new market instruments- derivatives, became increasingly popular. Although, their allies argued that they would stabilize the market, the opposite happened. Any attempt to regulate hedge funds was cut out by Commodity...
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