International Relations

Understanding the extent of the influence of the Neoliberal Policies in the development of the International Economy since the early 1980s

International Economy has always been volatile as it is subject to the activities of the market itself and the market players . Since global in composition , all countries constituting the international arena have a significant effect in the economy as a whole

Neoliberalism is a school of thought that traces its beginnings in Neoliberal Manifesto it believes that social progress can be attained through economic liberalism . Therefore , it believes that social

aggrandizement can be made through transferring the control of the economy from the public (government ) to the private sector . It advocates that since the private sector is more adept in handling the economy it is righteous to have them control it so that results will be favourable for all , economy-wise . While this move dismantles competition and espouses oligarchy and monopoly , John Williamson (one of the premier minds behind Neoliberalism ) argues that it is for the best interest of the nation as more business and firms will be built . It embraces ten points of contention

The first being the Fiscal policy where deficits are seen to be used only under occasional stabilization purposes , it therefore believes that large deficits should not be run by the government as it will only be paid later on by the citizens . It has a great tendency to lead to low productivity and inflation . And no country would like to experience inflation as it is...