Neoliberalism, A Very Short Introduction

1368 words 6 pages
Neoliberalism, A Very Short Introduction
Manfred B. Steger and Ravi. K. Roy
Book Review

ABSTRACT
Neoliberalism a Very Short Introduction, is an excellent and concise presentation of the history and development of neoliberal ideas. During the 1980s and 1990s, the revival of the liberal ideas was known as neoliberal. They spread around the world in a variety of size, forms and colors depending who, where and how implemented them. The
Washington Consensus IMF, World Bank supported neoliberal ideas in the name of globalization and free markets, but at the end only benefited the insatiable greed of big financial institutions and multinational corporations. An important part of these paper was dedicated to identify where this
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Out of the revival of these new liberal ideas resulted on the Frankenstein manifestation of the Chicago Boys at the Chicago School of Economics, neoliberalism.
While most developed nations welcomed neoliberal ideas, they were introduced into
Eastern Europe and Russian under the recipe of Shock Therapy that almost bankrupted their economies.10 On the other hand, most undeveloped countries were blackmailed by the IMF and World Bank into accepting the neoliberal principles as a pre-condition of granting much needed loans. Within neoliberalism we found ideas representing America's core values of liberty, freedom, and democracy, but those ideas were also adopted by criminal De Facto or Communist anti-democratic regimes such as Chile's Augusto
Pinochet or China's former president Jian Zemin. Which confirmed that the Washington
Consensus, IMF and World Bank represented the greed of powerful financial institutions and multinational corporations not the core values of America.
As result of neoliberal policies, there were successive financial crisis around the globe in developed and undeveloped countries alike. On 1980s, Mexico was short of stop payment on its debt. Subcomandante Marcos, lead an armed revolt that brought to light
Mexico's greatest social inequalities. On 1998 the Asian financial crisis threatened to push the global economy into recession. As result of the crisis, the Asian countries stop

9

Ibid, 52.

10

Ibid, 53 - 56.

5

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