Liberalism Essay

1407 words - 6 pages

INTRODUCTION
The US has been leading the world economy with its model of free-market capitalism for last three decades. We have been told that, if left alone, markets will produce the most efficient and effective outcome. Because individuals know what the best way is and they are the ones who will be rewarded according to their productivity. Therefore, maximized freedom and minimized state intervention have been regarded as the most beautiful contribution to economic development.
However, not all neo-liberal countries have achieved the expected outcome, in fact, most of them resulted in big failures. The growth rates of Latin America and Africa, which had been higher than other developing nations, dropped by over 60 percent after they embraced IMF-sponsored neo-liberalism in the 1980's . Especially in Latin America, neo-liberal policies were applied in the time. The result was that Latin America's per capita GDP fell by an average 0.5 percent a year for 10 years.
Meanwhile, the growth rate of countries that state deeply intervenes its economy such as Northern Europe countries, China, Brazil and Singapore have enormously increased. Especially China's historic success along with the strong recent economic performance of Russia and several Persian Gulf states has renewed interest in the hybrid economic model. Those phenomena can’t be explained by free-market capitalism ideology.

RESEARCH QUESTION: Is the neo-liberal economy model the best for the national economy as a whole?

HYPOTHESIS: Unlike it has been believed, neo-liberal economic model is efficient in a very few cases and also can be injurious to national economy. Moreover, government interventions are not always harmful, but can be highly beneficial to the national economy.

METHODOLOGY: The main question that I have tried to answer in this paper is whether free-market capitalism is the best economic model as it is known. To examine the efficiency of free-market capitalism, I analyzed the process of economic development in several countries for last few decades including the United States, China, and Singapore and compared those countries to examine the practical influence of privatization, deregulation, and state intervention. The ideas and data have drawn from books and articles written over last ten years that are related to the topic that I try to address.

NEO-LIBERALISM AND FREE-MARKET CAPITALISM

Neo-liberalism is a set of economic policies that have become widespread over last three decades or so. It basically refers to the political movement that goes back to classical liberalism, coined by a Scottish economist Adam Smith. Adam Smith published a book in 1776, called The Wealth of Nations that argues for the elimination of state intervention in economic matters. He said, “Free trade was the best way for a nation's economy to develop.” Such ideas were liberal in the sense of no control .
Free market, privatization, deregulation, and less expenditure for social services are...

Find Another Essay On liberalism

Political Liberalism Essay

1110 words - 4 pages Political Liberalism Norman Davies describes liberalism as "being developed along two parallel tracks, the political and the economic. Political liberalism focused on the essential concept of government by consent. In its most thoroughgoing form it embraced republicanism, though most liberals favored a popular, limited, and fair-minded monarch as a factor encouraging stability." (A History of Europe, p.802) At the core of liberalism was the

Gladstonian liberalism Essay

1236 words - 5 pages Gladstone Essay What was Gladstone's liberalism and to what extent was it applied during his first ministry? This question focuses on Gladstone's liberalism and to what extent he applied it during his first ministry, 1868-74. Liberalism is a political philosophy that stresses individual liberty, equal opportunity and rights, Victorian liberalism was a mixture of ideology, morality and self-interest, and it advocated civil and religious liberty

Neo-Liberalism

2002 words - 8 pages 1.         Article Two: Neo-liberalism Neo-liberalism has been one of the most influential ideologies over the last two decades that has had significant influence in the change of power and politics, at both global and national levels. Neo-liberalism theories are based on ideas and values that stem from the social tenets of classical liberalism that promote the free market, individualism, the pursuit of self-interest and the proposition

My Liberalism

829 words - 4 pages , and that the individual under-reported in the use of money on the face that does not decrease with their interests. philosophy of economic liberalism Vtntaleg of assigning property (the right to dispose of absolute wealth) per capita at the level of the doctrines of systems and art forms of economic measures to achieve these principles, it is Muslims can benefit from the contributions of doctrines and systems economic liberalism in this area

Classical Liberalism

1407 words - 6 pages Classical Liberalism, the Enlightenment, was a political movement that has impacted countries and their policies over many generations. The Enlightenment emphasized the notion that men are inherently good by nature (Bentley). The Enlightenment gave people the idea that a king was not necessary to rule over the people because people are not inherently bad. If anything, the people need someone to guide them but not have absolute rule over them

liberalism

1546 words - 7 pages Hobbes may have been the first to present an unequivocally negative concept of freedom. Hobbes defined liberty as the absence of external impediments to motion, and as 'a silence of the laws.’ However, the classic formulation of the doctrine may be found in Berlin’s ‘Two Concepts of Liberty’. Berlin defined negative freedom as ‘an area within which a man can act unobstructed by others.’ In Berlins words ‘Liberty in the negative sense

liberalism

1721 words - 7 pages The traditional common law tool to withhold information from the parties to a court case is Public Interest Immunity (PII). PII is a principle of English common law under which the courts can grant a court order allowing one litigant to refrain from disclosing evidence to the other litigants where disclosure would be damaging to the public interest. The areas of public interest that may be protected by PII include: national security

Liberalism in society

951 words - 4 pages Liberalism is strict the notion of equality for all individuals and the recognition of their voice in society. The source states “at every opportunity, the principles of liberalism should be challenged”. The interpretation of the source would say that is it disagreeing with liberalism and its principles. The source would agree that economic equality, co-operation, and collective interest are the principles that should be seen in society. Since

The Classical Liberalism

1096 words - 5 pages Introduction The Classical liberalism theory mainly emphasis is sited on shielding the freedom of the individual by restricting the power of the government. Classical liberalism is a wide philosophy of politics, economics, and human society that upholds individual freedom and the acknowledgement of universal human dignity. The most important features of The classical liberalism theory is consist of the following beliefs: All human beings have

The Classical Liberalism

1125 words - 5 pages Classical liberalism is one of the main theories of international relation it developed during the enlightenment period which emerges in United State and Europe in the 19th century. John Lock British philosopher was the founding father of classical liberalism, who has written about the state of nature. It is an optimistic theory where people live in city of nature it is a city of peace and cooperation. The classical liberalism seeks

The Transformation of Liberalism

2879 words - 12 pages Liberalism is a force that has produced change from the birth of this nation to the politics of today. Liberal tenets have been a basis of thought and action in American politics since well before the signing of the Constitution. Certainly, liberalism has had to transform in order to remain a legitimate force throughout the years. When considering this transformation, one may ask whether or not the ideas and goals of classical liberalism have

Similar Essays

Liberalism Essay

2790 words - 11 pages Liberalism could be defined as the opposite of the unlimited power that a king would enjoyed for example in the17th century. The kings used to have absolute power by which they decided the fate of all their peasants, no matter they agree or not. In this unlimited power, the opinion of an individual person an his independence was nor consider at, neither it was the will of the community, the only will that was satisfied was the king's will, even

Liberalism Essay

776 words - 4 pages chapter will explore liberal perceptions of the state. The discussion will include an examination of the liberal concept of negative liberty, in which the state’s role in the lives of individual citizens is to be kept to a minimum. It will also examine the relationship between liberalism and democracy and the rule of law. 3.4 Liberalism and the Limits of the State Many political thinkers, including liberals, regard the state and some form of

Liberalism Essay

1568 words - 6 pages democracy as a tool of oppression instead of a means of emancipation. Following the collapse of Communism in Eastern Europe and the Soviet Union many have argued that ‘western liberal democracy’ is the best form of government and ideally suited to the modern world. Some even claim that it is the ‘moral leader’ of the world. Parekh describes democracy as “defined and structured within the limits set by liberalism.” Liberalism preceded democracy

Liberalism Essay 2451 Words

2451 words - 10 pages world war they will fight, liberal states wind up all on the same side, despite the complexity of paths that take them there’, and that ‘citizens, who are ultimately able to defeat the government in democratic elections, appreciate that the benefits of trade can be enjoyed only under conditions of peace’ Whilst such characteristics do not prove that the peace among liberals is statistically significant, nor that liberalism is the sole valid