Advantages And Disadvantages Of Neo Liberalism
Neo-liberalism, as we know, is an evolving theory from traditional liberalism. Since traditional liberalism ‘defeat’ to realism in the Great Debate, neo-liberalism emerged as the new form of liberalism that upholds basic perspective as well as traditional liberalism is, with differences in several sectors. Theoretically, there are four variants of neo-liberalism, namely commercial liberalism, republican liberalism, sociological liberalism, and liberal institutionalism, but in practice, people commonly generalized them as neo-liberalism.
Each theory’s approaches are different, but basically same since all of them rooted on traditional liberalism. Commercial liberalism promoted free trade and a market economy the way towards peace and prosperity;
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In theory, neo-liberalism might appears as populism; a perspective that took side with people and uphold economic equality, but in practice, for example in developing countries, many people that live with average standard of living, should temporary leave their way of life to work as a peasant of capitalism system that created by neo-liberalism. This reality shows that this kind of liberalism are not voluntarily gained by them, but enforced to them instead.
European Union (EU) is a regional institution that formed by neo-liberalism, made EU the most common example of neo-liberal institutionalism framework in international trade system. By surrendering of some sovereignty of theirs, institutionalism liberalist believes that peace can be achieved as long those democratic states has the harmony of interest and pursue the same goals. However, in 2016, Great Britain decided to leave EU, or globally known as Brexit.
Britain decision to left EU successfully triggered global confusion and controversy, as for the former prime minister of UK, David Cameron. Cameron immediately resigned his position after the majority vote for Brexit, and replaced by Theresa May. Cameron resigned as his responsibility for his failure to persuade the majority vote for remained in
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