Sample Public Administration Essays On Neo Liberalism

Homework Question on Neo Liberalism

  1. The poverty in USA  as a result of failure of capitalism .
  2. The important things that needs to be mentioned in the history which led to this crisis in the neo liberalism era the 1% that holds the majority of the wealth and how it affected  the community.

Homework Answer on Neo Liberalism

The 20th century was met with a number oftransformations such as the industrial revolution and the economic liberalization. Prior to the World War I, economies were carefully regulated by the authoritarian state institutions. After the World War II, there was a push to free the markets from government regulation and ensure private ownership of property.

Smith (2009) asserts that neoliberalism was an economic theory that advocated for markets to be completely liberated from any type of governmental interference. It propagated for economic liberalization policies, which include deregulation, open markets, and privatization. As a result, capitalism emerged which is defined as the enterprise culture where industries are governed by private owners for profit making, without the government interference (Harvey, 2005).

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Countries which were opposed to capitalism adopted the communist policy where all economic activities took place in authoritarian state institutions. Most of the capitalist countries comprised of North America, Western Europe, and Japan whereas the communist included countries from Latin America, Asia and Africa. By 1970, the communist regimes fell into a crisis and 20 years later they gradually transformed to capitalism.