SOC 1101 Lecture Notes - Lecture 12: Neoliberalism
6 Jan 2014
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Document Summary
Free-market forces are achieved by minimizing the impact of government regulations on businesses. The idea that global free-trade will enable all countries to prosper: justifies the ideology of neoliberalism. Leads to challenges to minimum wage and other labour laws, as well as environmental restrictions: as it gains strength in terms of policies and practice, it has a negative impact on labour laws and environmental laws. Deregulations: withdrawing / reducing legislation that so called interferes with the free market. Decline in the social wage : covers all social service benefits healthcare, unemployment insurance. Shift from government support to charities: instead of a state / federal government making important decisions, two people and their board get to decide how we proceed, lot of power in the hands of few people. Tax reforms: increasingly those who are corporate owners, ceos, get to retains increasing percentages of their income as a result to favorable tax reforms. Decease in size and scope of the state.
