Free Economics Dissertations - Instead, They View It As Part Of The Historical Process Which Is Shaped
Instead, they view it as part of the historical process which is shaped primarily by hypothetical forces.
Neoliberalism
Neoliberalism is the tendency towards globalization which has gained prominence in recent times. It is one of the predominant ideologies which primarily is a response to the economic downturn and international debt crises of 1970’s. It is based on a firm belief in free trade. This theory opposes strongly the intervention of state in the economy.
The formula followed by the proponents of this theory promotes competitive market capitalism, private ownership, free trade, growth based on exports, strong control on the balance of payment and deficits and a sweeping reduction in the government social spending. This formula is thought to be responsible in economic growth which leads to a considerable reduction in poverty (Soederberg, 2004, 10-14).
While this theory gives the appearance of being in complete control, the neoliberal model stands on an increasingly shaky ground, which includes constantly reducing democratic spaces and a distorted distribution of wealth which has no historic instant. The majority of the people of the world are poorer than they were three or four decades ago, and no neoliberal propaganda can hide this biting reality.
The neoliberal model of globalization represents a globalization of class groupings. The wealthiest five or ten percent in the world control the whole economies and political systems. They have more traits in common with each other than they have with their fellow citizens, and the neoliberal policies which are formed reflect clearly their interests. The elites enjoy increasingly strong institutional ties, while the rest of the people are left with less democracy, fewer economic options, more repression and authoritarianism, increased poverty, and less sovereignty (Pannu, 1996 88-99).
Radicalism
A new radicalism has risen up across the globe. In today’s world, people from around the world have started this movement in resistance to globalization. This movement of movements is gaining momentum day by day, even after the world has gone through a lot of turmoil in the face of 9/11 and the wars.
All over the world people have now started rebelling against the world ruled by a few elites whose only aim is to accumulate power and wealth in their hands. This resistance is against these few wealth and power accumulating hands, war, low wages, deforestation, gentrification, gridlocked cities, genetic engineering, the rich getting richer, cuts in social services, increasing poverty, joblessness, global warming, more prisons, etc. which is all there as a result of increasing globalization. The new radical movements are the backbone of the resistance and opposition to corporate globalization and they have defeated much of the agenda of the corporate globalizers.
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