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.
Origins and Advocates Neoliberalism is rooted in transnational scholarship that emerged in response to globalization of the 1970s. Transnationalism, or sociological liberalism, emphasizes the impact of transnational networks between state and non-state actors. Transnationalists such as Rosenau and Burton believe that with increased interaction across borders, military force as a tool of statecraft is replaced by an interdependent human society among pluralistic actors. Neoliberal institutionalists of the 1980s and 1990s, notably Keohane, constituted a state-centric analytical confrontation with the neorealist arguments of Kenneth Waltz in particular. Other examples of Neoliberal institutionalists include Ney, Krasner, and Oye, among others.
Neoliberalism and its implementation has had a major economic and cultural impact on countries in South America of which Chile being the most prominent example. From the beginning, neoliberalism was a project that was to restore the class power where the economic elites are in control. The theoretical utopianism of the neoliberal argument was primarily used as a method to justify the actions of General Augusto Pinochet’s militant rule where basic human rights were continuously violated. The basis of neoliberalism was deregulation and privatization of various sectors in a free market economy, however the consequences of these policies caused for many years of human rights violations under the rule of General Pinochet. The memories and the historical
Economic nationalism or mercantilism is the realist approach to international political economy. This theory considers the state to be the most significant actor in the international system, views international economic relations between states as competitive in nature and claims there is a direct relationship between the pursuit of political power and economic wealth. It is the relative economic power of the state, in comparison with other states, that is most important. This perspective criticizes liberal ideas of free trade, claiming that they were not applicable to the reality of a world of nation states. Rather than being in the interest of all individuals, in reality a free trade system would favour the most advanced manufacturing states.
Commonly understood as a political economy committed to rolling back the state, neoliberalism has characterized a decade of challenges and reforms. Both in the US and in the UK, the neoliberal thinking upset the previous political ideas ascribable to the Keynesian Era. Ronald Reagan spearheaded neoliberal policies in the US during his presidency, lasting from 1981 to 1989. The US political context shaped and constrained his ideas, leading this country to a unique neoliberal revolution (Jacob, 1985). A limitation of the power of trade unions, a huge process of deregulation and a relatively slight economic growth had to face, however, an increasing government spending, thus debunking the so-called ‘Reagan myth’ (Krugman, 2008).
It was these movements that paved the way for an emerging ideology, neoliberalism, which promised individual autonomy, greater choice, personal responsibility, and meritocratic advancement (McGregor, 2001; Sample, 2002; Fraser, 2013). At the macro level, neoliberalism promotes free trade, privatization, less state interference, and deregulation. The neoliberal ideal places the market in a position of paramount importance and endorses the belief that all human activity should be brought under its scope of influence (Sample 2002; McGregor 2001). Correspondingly, efficiency is viewed as the most important function of the economic system. Neoliberal enthusiasts feel that the most efficient way to allocate resources is by releasing private enterprise from Government imposed regulation and distributing them through mechanisms of the market.
This idea of leadership style, combined with looking at what Theodore Roosevelt did during his presidency, is very similar to Trump’s way of leading our nation, although they came into office with different political experience. The speech is very much focused on nationalism and on foreign diplomacy, which foreshadows such focus throughout Theodore Roosevelt’s presidency. His clear nationalist emphasis is seen when he mentions that all citizens have a duty and all must work hard, which works to his advantage in getting the attention of the middle, working class and placing himself as a populist, since he says “our first duty is to our own people” (Roosevelt, 1905). By doing so, he quickly gained the attention of the media and the love of the public, which is what allowed him to win another term
“Neoliberalism is considered to be the dominant ideology that is shaping our world day.”(Thorsen and Lie, 2009, p. 1). There is however, no one true definition to neoliberalism as it is very diverse in terms of covering a lot of aspects of economic, cultural, and social terrains. This era came about with the introduction of Structural Adjustment policies stemming from the Bretton Woods System, Washington Consensus, World Bank, and the IMF (http://globalsocialtheory.org/topics/neoliberalism). There was also an increase in the number of capitalist theories claiming to be the “better” way for society to become developed. These theories also promote austerity, privatization, deregulation, and a purported ‘opening up’ of markets and borders which
Donald Trump is also a role model in ‘goal setting’ especially in a business context. He has ‘high expectations of himself’ and those around him and that is, at least partially, why he has been able to accomplish so much in his lifetime. All this evince that he is a ‘big dreamer.’ He dreams big. Having a clear vision is essential if you want to accomplish big things. One might argue that Donald Trump is arrogant and could, perhaps, even be described as egoistic person.