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According to investopedia, Neoliberalism draws from the principles of neoclassical economics and suggests that government should cut deficit spending, reform tax laws so the tax base can be broadened, limit on subsidies, limit protectionism by opening markets, encourage privatization and deregulation in order to allow private property. Neoliberalism is a system in which the economic factors that are controlled by the public sector move to the control of the private sector. To sum it up, neoliberal policies deregulate and expand the market economy.
Proponents of neoliberalism oppose the notion that neoliberalism increases the efficiency in a market based economy. On the contrary, neoliberal policies reduce and eliminate the effects of the government intervention and the public sector over all. This in turn leads to companies and people gaining advantages in the market. These advocates also argue that under neoliberal policies, companies will be able to increase their profits by actively increasing their production of goods and services. This will lead to better…
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