Pros And Cons Of Neo Liberalism

1438 Words6 Pages
1. Introduction
Liberalism refers to an ideology which was first spoken about by John Locke. As he mentioned the rights of the individual to have property, freedom, health and life(Cahn,2005:247). Later This essay aims to offer a critical review on the concept of neoliberalism. The essay shall begin by offering the reader a brief view on liberalism. The essay will then attempt to explore the differences between liberalism and neo liberalism. Next the essay shall explore the tenets of neo liberalism. It will then proceed to argue on the pros and cons of neoliberalism as an ideology and policy. Lastly the essay will conclude by offering the authors view on neoliberalism.
2. Liberalism on after John Stuart Mill authored ‘on liberty’ liberalism became associated with him and the ideals presented in his seminal work. Liberalism refers to the right of the individual, it believes that people would not go to war due to mutual dependence that states would have or people have on each other (Cahn,2005:). Liberalism as an economic policy rather than a philosophical ideology was first written about by Adam Smith on 1776 in his book “The Wealth of Nations”. Adam Smith is known as the father of economics, he was the first to write about the invisible hand of the market and having no government intervention within the economy. No limit to manufacturing and free trade were all ideas which Adam Smith advocated for(Smith & Soares,2007:420) . For the most part this was the type of ideology
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