World Poverty Can Be Addressed By Pursuing Neoliberal Economic Policies

1479 words - 6 pages

 Neoliberalism is one of the most dominant theories that shape most of the international policies throughout the world. This paper will evaluate the effectiveness of such policies in regards to world poverty. There are many conflicting viewpoints in regards to wether neoliberal policies has exacerbated or decreased poverty levels around the world, which will be outlined in this paper. Neoliberals maintain that Neoliberalism has been a vital factor in decreasing world poverty in countries that have adopted it completely and those that haven’t adopted these policies are suffering as a result. Conversely, the critical opponents of neoliberalism claim that their philosophy represents only the ...view middle of the document...

Although some believe that neoliberalism is merely an economic framework, it is in fact a philosophy that seeks to look at the world from a definitive perspective in regards to having a ‘free market’. The concrete policies advocating neoliberalism are those of John Williamsons ‘Washington Consensus’. Williamsons policy included ten important points in regards to; fiscal policy, which would see the eradication of large deficits that have to be paid back by citizens in hopes to stop huge amounts of debt, redirection of public spending from subsidies, tax reforms that will encourage innovation and efficiency, interest and exchange rates that are reasonable and efficient, trade liberalization on imports, liberalization of the capital account, privatization of state enterprises, abolition of regulations that impede market entry or restrict completion, legal security for property rights and financialisation of capital (Williamson, 2004).  Williamson developed these policies firstly for the Latin-American countries in order to promote economic growth in hopes to eradicate poverty. Neoliberalists are adamant that in order to eradicate poverty, governments and countries need to be using these policies and believe that states cooperate to achieve absolute gains and the greatest obstacle to cooperation is ‘cheating’ or non compliance by other states (Baylis and Smith, 2008, p.133)
Neoliberalism and neoliberal movements have undoubtedly changed the world’s economies in many ways over the past 30 years. Neoliberalism has seen not only the growth of international trade and cross barrier capital flows but also the elimination of several trade barriers, cutbacks in public sector employment, the privatization of previously public-owned enterprises and the transfer of the share of countries economic wealth to the top economic percentiles of the population (Rapley, 2004). Unfortunately for neoliberalists, most countries affected by poverty are mostly anti-business, and the aid that rich countries give them overwhelmingly supports government agencies and nongovernmental organisations (Hubbard and Duggan, 2009, p. xi). A vast majority of the aid and money that is either donated or fundraised to tackle world poverty goes towards food, medicine, clothing and rebuilding vital infrastructures, and whilst this is a huge help to communities, it has failed to end world poverty as these donations and help are not permanent in regards to growing and sustaining successful villages in countries ravaged by poverty. Although this flow of aid is in place for all the right intentions, only business creates the jobs that pull people out of poverty, and neoliberalism is the only reliable path to mass prosperity the world has ever known (Hubbard and Duggan, 2009, p.3). According to Hubbard and Duggan, in order to tackle world poverty, wealthy and developed countries need to begin to take advantage of their power and status by grasping neoliberalists approaches to poverty, such as...

Other Papers Like World Poverty Can Be Addressed by Pursuing Neoliberal Economic Policies

How Can One’S Life Be Affected By Society

579 words - 3 pages Joseph M. Cotoia ENG-105 English Composition December 5,2010 Grand Canyon University How can one’s life be affected by Society Most of us were raised going to church, taught that following the way of God was the right way and sinning was a problem. I am a Catholic/Christian and for me it is hard to follow in the footsteps of my Savior. There is so much temptation in this life how can one not be swayed away

But We Can Be Greater Heroes by Heart

1135 words - 5 pages But We Can Be Greater Heroes By Heart Since 1995, the National Heroes Committee had recommended several heroes to be proclaimed the National Hero of the Philippines; among which are Jose Rizal, Andres Bonifacio, Emilio Aguinaldo, Apolinario Mabini, Marcelo H. del Pilar, Sultan Dipatuan Kudarat, Juan Luna, Melchora Aquino, and Gabriela Silang. However, the country has been granting greater credits to Jose Rizal as he has been regarded as

‘Choose a Destination (It Can Be Anything from a Single Resort, to an Entire Country), Describe the Economic, Cultural and Environmental Impacts Caused by Tourist Development There and Judge the...

3386 words - 14 pages The tourism industry has developed into one of the most powerful industries in the world. The impacts of tourism development growth can produce both benefits and costs to the host nation. In order to eliminate the negativities caused by tourism, and provide a more sustainable future for the ever-expanding industry, Government’s need to be actively involved throughout. However, the extent of their involvement is disputed. The Government’s of such

Athens and Forest Reading Through a Midsummer Night’s Dream, Written by William Shakespeare, It Is Easy to Find Out That the Play Can Be Separated by Two Sides Generally. One of Them Is Near World,...

764 words - 4 pages Athens and Forest Reading through A Midsummer Night’s Dream, written by William Shakespeare, it is easy to find out that the play can be separated by two sides generally. One of them is near world, represents complexity, statutory and fact. The other one is mystical kingdom, represents simplicity, freedom and dream. William Shakespeare uses antithesis to point out the differences from near world and mystical kingdom. The first thing, there

What Are Some Of The Likely Environmental Impacts Of The Operation Of A 'free Market' Economic System? What Can Be Done To Limit These Environmental Impacts?

1130 words - 5 pages This essay will firstly define a 'free market' then by using course materials it will discuss the possible environmental impacts of a 'free market' and what can be done to limit them.A free market is a market '…where price is determined by the unregulated interchange of supply and demand. This is in contrast to a controlled market where supply, demand, and price are set directly by government' (Wikipedia). In a free market, the economy

What Ideas About World Peace Were Behind The Formation Of The League Of Nations, And Can They Ever Hope To Be Fulfilled?

1987 words - 8 pages internationalists who believed world peace could emerge without such a union which would require the dissolution of sovereign states. Unlike realists, liberals and idealists believe that the state of nature could be changed as sovereign states acting in their own interests can be forced to co-exist peacefully by the establishment of a world government. This would have the added benefit of facilitating disarmament without the necessary evil of

A Study of an Individual’S Choice, How It Can Be Corrupted and What the Outcome Will Be, with Reference to the Texts 'Brave New World', 'the Screwtape Letters' and 'the Devil and Miss Prym'

4532 words - 19 pages considered wrong at all – the “principle of mass production”(BNW Pg 5) applied to biology is thought of as a “prodigious improvement, you will agree, on nature.” Of course we will not agree, for we can see that even natural choice to make the self what it can be is taken away by this. The people in charge “predestine and condition”(BNW, Pg 9 ) – they make the choices for the entire world, for the “secret of happiness and virtue”(BNW, Pg 12) in the

John Stuart Mill: On Liberty The Nature And Limits Of The Power Which Can Be Legitimately Exercised By Society Over The Individual

1553 words - 7 pages Liberty for John Stuart Mill is defined as "the nature and limits of the power of which can be legitimately exercised by society over the individual". Mill argues that society can only use authority over behaviour that harms others; anything else is an end of human freedom. He links liberty to the ability to progress and to avoid social inactivity. Free discourse is a necessary condition for intellectual and social progress. The only time humans

Describe How Monitoring of the Environment, the Public, Workers and the Workplace Can Be Used to Control the Pollution Cause by Ionising Radiation (20)

680 words - 3 pages There are three types of radiation and they all pose a threat to living tissue and should therefore be monitored in the environment and in workplaces that using radioactive substances. Gamma rays are the least ionising but have a very large range and can only be stopped by a few cm of lead. Alpha is the most ionising but has the least range at a few cm and can be stopped by skin. Radioactivity in the environment is measured in many different

We Have a Strange Situation in Australia. at a Time When People Seem to Be More Worried by Crime, the Research Evidence Suggests Crime Rates Are Not Increasing. How Can We Explain This Apparent...

2557 words - 11 pages We have a strange situation in Australia. At a time when people seem to be more worried by crime, the research evidence suggests crime rates are not increasing. How can we explain this apparent contradiction? In a democratic society such as Australia, crime trends largely influence parliaments and ministries in crime policy management. If the media are found to be reporting an upward trend in crime figures, enough to unease the public, policy

The Reason for Increase in Divorce in the Uk Can Be Explained by the Changes in the Law. Discuss This Statement

652 words - 3 pages shows that changing in divorce laws has lead to higher divorce rates. As people now have more choice to divorce for different reasons and men and women are equal. People can divorce because their unhappy or simply fallen out of love. However in more recent years divorce has actually decreased. This could be because it is more common for people to stay in marriages but to be separated. Many couples often find themselves in relationships where the

Related Essays

Using The Data And Your Knowledge Of Recent Economic Events, Assess The Contribution That Fiscal And Monetary Policies Can Make In Maintaining A Stable Economy

724 words - 3 pages fiscal and monetary policy measures the government can use to promote economic stability. It is important that policies work on both the short term AD side of the economy and long run AS of the economy so that there is a balance at play. Also stability in the economy might be affected by what is happening in other world economies and it becomes difficult for fiscal and monetary policy to work effectively if the Uk economy is affected by the working of other economies and also any economic shocks which might occur in the wider world economy.

Economic Crash: Can The Economy Be Restored?

1998 words - 8 pages Introduction- Lately on television, the radio, and many other sources of media we've heard a lot about the economy and how it might be a depression. This is happening not only locally in Greeley, but also on a national scale. How is Greeley's economy regression, and how can we fix this regression from repeating the mistakes we made during the era known as the Great Depression?I.What is the present state of our economy?A. So where is our economy

Can Economic Indicators Be Used As Effectve Comparators Between Nations?

1220 words - 5 pages and economic security.Economic growth is a quantitative measure of increase in a nation's productivity output by means of income. It can be divided into labour, Capital stock and technical progress. Labour growth can be influenced by birth rates, migration and participation levels within the nation. Increased life expectancy can have a negative, impact on the workforce ratio, increasing the welfare burden. Economic growth must exceed birth rates to

Can Welfare State Reforms In Europe Be Explained By Government Attempts To Improve Economic Efficiency? Discuss With Respect To A Social Policy Reform In Two Countries

2706 words - 11 pages Can welfare-state reforms in Europe be explained by government attempts to improve economic efficiency? Discuss with respect to a social policy reform in two countries. 1. Introduction: Pension systems were first introduced in Europe in the late 19th and early 20th century. In the post-war ‘golden era’ of welfare they were subject to wide expansion and increases in the benefits offered. They became the largest source of state welfare