What Is Neoliberalism In The United States Research Paper

What Is Neoliberalism In The united States - Research Paper ExampleUnlike in other countries such as the Western Europe and Japan, the United States has been very successful in foothold of the character of neoliberal policies in this country. This explains wherefore the United States is considered the leader of imperialist countries (Dumenil and bill 9). In general, the design of neoliberalism is based on the classical liberal stintingal practice that was widely used in the United States for many years way before the Great Depression took place in 1930s (Dumenil and Levy 1, 12). However, between the mid-1930s up to mid-1970s, the US government decided to implement the use of the interventionist approach rather than the typical classical liberalism (Kotz). When Ronald Reagan was elected as the President of the United States back in 1980, the US government started financial backing the use the classical liberalism in making public policies which aims to limit labor power, dere gulate industries and agriculture indoors and outside the United States (Harvey). The main purpose of this study is to discuss the significance of neoliberalism in North Atlantic states particularly in the case of the United States. As part of analyzing the impact of neoliberalism in the U.S., this study testament first discuss what neoliberalism is all about followed by discussing how neoliberalism in the United States has affected the developments in deregulation and privatization of public companies. What is Neoliberalism? According to Dumenil and Levy (5), neoliberalism is the new phase in the evolution of capitalism. Basically, the word neoliberalism is usually used as a general term for economic liberalization of public policies and advocates (Fish Boas and Gans-Morse). Since we are already in the era of globalization, a lot of academic institutions have considered neoliberalism as a central channelise principle of economic thought and management (Harvey). However, the que stion remains as to what neoliberalization really mean and why the United States has been very supportive of neoliberalism? As defined by Mirowski and Plehwe (13-14), neoliberalism is the priority of the price mechanism, the free enterprise, the ashes of competition and a strong and impartial state. It means that neoliberalism strongly believe in the composition that a society should never be considered as a product of natural development. Instead, people should continuously promote the importance of having a free society that is subject to a free trade economic system or an unregulated capitalist system (Harvey Kotz). In general, the neoliberals strongly believe that a free market competition could challenge each business entity to improve not only their knowledge in managing a business but also maximize the use of technology. By giving each person the license to choose, neoliberals explained that business people can support the increase in the countrys overall economic perf ormance. It means that the business people are expected to become more focused in decision ways on how they can effectively increase their production efficiency and output, progress in the use of machineries and information technology, and promote distributional justice in order to increase the annual U.S. economic growth. As a free country that practices free trading, Kotz explained that the U.S. government has a limited role in its economic development. In general, the neoliberals consider the presence of state intervention as an external factor that can generalization more problems on the part of the business sectors. The public policy under neoliberalism