Reflections on Neoliberal Policy

It is reported that the global economic situation is not so good that many kinds of problems are emerging, especially in the developing countries. Egypt and Morocco are two examples of our study.

They have carried out the economic reform for a long time and what’s the effect? A recent article studies the ways they exploited the global economic situation and confirms whether they benefited from the openness of the markets. They mainly analyze the neoliberal policy, which has great influence on the development of their countries and the situation of the country has proved that the perspective of neoliberal policy seems wrong.

In fact, neoliberal policy, which is related to neoliberalism, means free-market economics. And it involves policies associated with free trade, privatization, price deregulation, a reduced size of government and flexible labour markets. And the purpose of carrying out the policy is to open the market, reduce the management from the government and improve the economic development, which is helpful to achieve the globalization. According to the study result, we found that the economic condition didn’t improve, and became worse instead. How did it happen? The core problem that comes with the neoliberal policy is the disagreement of economic (neo) liberalism and democratization or the disagreement between the development of economy and politics. Some people once said that that liberal democracy will be the final form of human government on a universal scale. And, according to the current situation, we can find the neoliberal policy causes the severe economic inequality, which finally leads to the instability and unrest of some countries.

In general, carrying out the neoliberal policy with the political agenda which is about democracy, liberalization and operational strategies will improve the economical situation of different countries, reduce the risk of inequality and finally realize the steady development and progress of the global society. 

Article by Alex Afouxenidis and Christos Kourtelis, from Greece and Turkey.

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Image by theanondude, from Flickr-cc.