Neoliberalism In Latin America

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HIS 1010 Name: Abdullah Ali Mohammed Madonna ID: 250490 Neoliberalism has occupied Latin America for over three decades. The neoliberalism eliminates tariffs and government subsidies of national industry and implementing national policies that favor the needs of business and investment. In this essay, I am going to discuss the issues that faced Latin America because of neoliberalism and how it brought harm to Latin America. Neoliberalism caused a loss in state revenue, so the amount which helped to fund the social welfare programs faced a loss. The regulations of labors were weakened, financial trading was deregulated, and the prices of agricultural products were no longer controlled by the state. Neoliberalism made the state look like…show more content…
Neoliberalism is the main cause of the difference between the rich and the poor in the states. It expanded the market efficiency by competitions between individuals, raised a gap between the rich and the poor. Rich people are becoming much richer based on their original properties while poor people are becoming poorer and suffer great economic problems in their lives. This does not only happen between individuals but also between companies. The unemployment rate increased because of neoliberalism. In neoliberalism, unemployment will target any person with less working ability which might cause hatred. Also, it caused a widening inequality of both wealth and income in Latin America. Skilled workers have an opportunity to get higher wages; on the other hand, low-skilled workers can only get low wages. Neoliberalism causes a limit to wage…show more content…
I discussed how neoliberalism caused a loss of the state revenue, how it weakened the regulation of labor, how it caused the discharging of employees and the decrease in wages. Another of neoliberalism negative effect is the increase of the price food products, oil, and fuel and other essential products. I also discussed peoples’ opinion regarding this issue and explained why I oppose their opinions. I gave evidence why I think my opinion is right. The world started changing when neoliberalism was adopted. The difference in class became more obvious as rich people started disregarding poor people. This difference led to other problems in Latin America such as crimes, selling of slaves and
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