Neo Liberalism Development Theory¶

Unregulated capitalist system with set of economic policies that limit restrictions on manufacturing and reduces barriers to commerce, reduce tariffs and free trade

Features¶

• Rule of market, regardless of any social harm or market failure
• Deregulation: Limit govt regulation on anything that will reduce safety of jobs and profits
• Minimum Govt Intervention: “Minimum Government, Max Governance”
• Reduce subsidy on Goods and Services
• Encouraged Foreign Collaborations

• New Industrial, Trade and Tax Policy

• Individual freedoms and responsibility: Meritocracy

• Privatization
• Market Society, on top of Market Economy
• Import technology

Limitations¶

• Misguided free market approach to public services
• Monopoly
• Increased financial instability
• Inequality
• New economic colonization: Debt Traps

Privatization¶

Advantages¶

• Improved efficiency
• Sense of responsibliltiy
• Scientific management
• Reduction in political interference
• Encouragement of new innovations

Disadvantages¶

• Lack of social welfare
• Class struggle
• Increased inequality
• Increased unemployment
• Exploitation of weaker section

Due to the above, increased crime and/or violence

What is good governance?¶

Case Studies¶

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