GLBL 210 Chapter Notes - Chapter Feb 28 Readings: Financial Times, Monetarism, Ordoliberalism
28 Feb 2017
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Neoliberalism would have been an unpopular concept in 1945 or 1950. Market makes important social and political decisions. The government reduces its role in the economy. When the imf and the world bank were created, they had no control over the governments of any nations. After wwii, the world was fairly progressive, including things like decolonization and the. Neo-liberals have formed a network of institutions to promote their ideas to the general public. The neoliberal economic system has been naturalized and people think that it is the only economic system that could be. In 1979, margaret thatcher undertook the project of neoliberalism in the uk, encouraging competition. Neoliberalism advocates a kind of social darwinism, where the strongest and most capable deserve to succeed economically and the less able do not. Before thatcher, the uk had a poverty rate of 1 in 10 people. After, there was a poverty rate of 1 in 4 people.
