Neoliberalism and the Changing Role of the State

This article discusses the impact of neoliberalism on the economy and society. It provides a summary of the academic literature on the topic and analyzes news articles related to it. The article highlights how neoliberalism affects social-economic implications, unemployment, and income inequality. It also discusses the changes in governance and the rise of neoliberalism. Desklib is an online library for study material with solved assignments, essays, dissertation etc.

Neoliberalism and the changing
role of the state

Contents
Summary of Neoliberalism and the changing role of the state..................................................3
Summary of news articles..........................................................................................................4
Analysis of how the news articles related to the relevant academic literature...........................5
References..................................................................................................................................7

Summary of Neoliberalism and the changing role of the state
As per the, “Bhagat, 2020.”,Neoliberalism is it contemporary that is Adopted and
used to refers particular market oriented reforms policies like eliminating some kind of price
controls, decreasing trade barriers and also decreasing and the regulating some capital
marketing. The philosophy and policy paradigm of neoliberalism emphasizes the importance
of free market competitiveness. Although the exact characteristics of neoliberal ideology and
practice are debatable, it is most usually associated with lassie faire capitalism. Neoliberalism
is often defined by its belief in long-term economic growth as a means of achieving scientific
advancement, its presumption in market economics as perhaps the most efficient utilization
of capital, its importance placed on minimal government interference in economically and
socially affairs, and its dedication to trade and investment freedom. There are so many ways
that explain that how neoliberalism create impact on the economy because it creates impact
on the social economic consequences and also enhance forward, unemployment and The
street version of the income (Phelan, and Dawes, 2018). Global commerce, consumption,
and debt are all promoted by neoliberal economic growth. As a result, democratization,
equality, social justice, and freedom are subordinated, and financial violence is perpetrated
against the majority of the poor. Inequality is a by-product of neoliberalism. In New Zealand,
local-central relationships have been radically restructured during the last 25 years, with one
of the most important results being a drastic shift in the responsibilities and duties of
municipal authorities within their constituency. This reorganisation was significantly
impacted by a shifting public policy environment, wherein the historic social democratic
paradigm of Macroeconomic welfare reform was replaced in 1984 by a policy framework
driven by economic neoliberal principles (Stiglitz, 2019). New Zealand echoed the
international abandonment of Keynesianism that was taking place at the time by embracing a
neoliberal policy framework. New Zealand, on the other hand, moved even further quicker in
its restructuring process than just about any other country, "individual's self - concept
Thatcher" in its adoption of market neoliberalism while also dramatically overhauling its
governance institutions. Apart from this, the main transformations of the neoliberal era,
which began in the 1980s, saying that neoliberal ideology weakened the state's power while
actions focused on privatisation, liberalization, and contract procurement changed how it
operated. New types of finance used it to endorse customer strategic initiatives increased the
position of financial crisis, and restrictions on liberal countries' financial and activist
responsibilities limit their ability to invest in learning, investigations, and infrastructural

facilities, all of which are critical to their long-term financial strength. The policies that are
created embarked on the development and create impact on the enhancement in inequality
and these kind of inequality can hinder them and create impact on the long-term growth in
respect of an economy and also create impact on those Individual who owns a low income
and that have a limited spending power. Apart from this, application of neoliberalism also
nurture inequality, creating bartender equity, social justice and freedom of the individual
(Stiglitz, 2019).
Summary of news articles
From the analysis of the articles being selected for the given topic i.e., Neoliberalism
and the changing role of the state, it can be said that the present neoliberal World Trade
Organization system actively prevents emerging nations from following the types of
economic and technical strategies pursued by the older developed countries while they were
developing. Therefore as a result, it contends, the presently more economically developed
nations did not grow as a result of the same policies that neoliberalism now advances for the
current state of the economy. According to Mathew Willburn King, (2021), neoliberalism
may be characterised as a controversy to Keynesian reformist liberalism, which dominated
government policy and practice during the Western postwar cooperation. It was first
implemented into public policy by Margaret Thatcher in the United Kingdom and Ronald
Reagan in the United States in the 1980s, and it has since become the globe's dominant type
of political economy (It's done so much for human well-being, but it's far from perfect. Will
capitalism as we know it evolve into something new? 2021). Neoliberalism may be
understood as a criticism of the entire liberal thinking trajectory that began in the mid-
nineteenth century with John Stuart Mill's work (Kaygusuz, 2018).
From the analysis of data presented in The Financial Times, (2022), Neoliberalism
stepped away from all these commitments by redirecting to an older liberal tradition that
emphasised minimal government and market self-regulation. Neoliberals also restored power
connections that flourished in the 19th century and even before: the capital owning classes’
reclaimed power that they had previously shared with welfare state elected leaders. The
growth of neoliberalism coincided with the rise of the illusion of governance, but this was no
coincidence. The neoliberal state's governance captures a market-based decision-making
paradigm. There is no scarcity of money, but there is a risky misappropriation of it (Letter:
Obituaries for neoliberalism are premature, 2022). The potential consequences for health,
particularly in low- and middle-income nations, are clear. Taxation was revealed to be a

major factor of health system robustness in a recent research comparing fiscal policies and
socialized medicine in low- and middle-income nations. 60 Health expenditure increased in
lockstep with progressive tax receipts from income, capital gains, and profits, but decreased
when regressive consumer taxes were used. Governments risk losing their revolutionary
liberal responsibility of enforcing constraints on the capitalist class and promoting the
common interest, particularly as a spokesperson for social equality (Ryan, 2020).
Governance and neoliberalism are twin closely related concepts: they both help to
concentrate authority in the hands of the wealthy and to serve the public interest, particularly
as a spokesperson for equal opportunity. Governance and neoliberalism are two
complementary: they both help to concentrate power and control of the wealthy and to serve
the public interest, particularly as a supporter for equal opportunity.
Analysis of how the news articles related to the relevant academic
literature
Through the analysis of the literature, it can be said that neoliberalism is often defined
by its belief in long-term economic growth as a means of achieving scientific progress, its
belief in market economics as perhaps the most efficient use of capital, its emphasis on
minimal government intervention in economic and social affairs, and its commitment to trade
and investment freedom (Peck, Brenner and Theodore, 2018). There are several explanations
for how neoliberalism affects the economy, since it has an influence on social-economic
implications, as well as increased forward, unemployment, and the street version of income.
Neoliberal economic expansion encourages global trade, consumerism, and debt. As a result,
democratisation, equality, social justice, and freedom are pushed to the background, and
financial violence is done against the poor. As a result, democratisation, equality, social
justice, and freedom are pushed to the background, and financial violence is done against the
poor. Neoliberalism produces inequity as a side effect. In New Zealand, local-central
connections have been substantially rebuilt during the previous 25 years, with one of the most
significant outcomes being a significant change in municipal authorities' obligations and
duties within their constituency. On the other hand, a changed public policy climate had a
considerable influence on this reorganisation, with the traditional social democratic paradigm
of macroeconomic welfare reform being replaced in 1984 by a policy framework based on
economic neoliberal principles (Phelan and Dawes, 2018). By adopting a neoliberal policy
framework, New Zealand reflected the international abandoning of Keynesianism that was
going place at the time. Apart from this it also has been analysed that, Governments

potentially lose their revolution liberal role of imposing capitalist class restrictions and
supporting the common good, especially as a voice for social equality. Governance and
neoliberalism are two notions that are closely linked: they both contribute to concentrating
power in the hands of the wealthy while also serving the public interest, notably as a voice for
equal opportunity (Ryan, 2020). Management and neoliberalism are complementing in that
they both aid in the concentration of power and influence in the hands of the rich while also
serving the public good, notably as supporters of equal opportunity. Apart from this, the
development of the impression of government corresponded with the advent of neoliberalism,
but this was no chance. The administration of the neoliberalism state reflects a business
decision-making framework. Money is not scarce, but it is subject to risky exploitation. The
significant health repercussions, particularly in low countries, are obvious. In a recent study
comparing financial policies and socialised medicine in low- and middle-income countries,
taxation was discovered to be a crucial determinant in health system robustness. 60 When
progressive consumption taxes have been used, health spending climbed in full agreement
with proportional tax collections from income, capital gains, and profits, but fell when
progressive income tax revenues from earnings, investment income, and profits were utilised
(Stiglitz, 2019).
COMPARISON OF PART 1 and PART 2
The article “The rise of neoliberalism: how bad economics imperils health and what
to do about it’ is based on structural changes to the worldwide labour market along with
enhancing under-employment in high-income countries and economic insecurity in another
place which are likely to widen health inequities in the longer term. It states that an economy
is complex to manage and it is bets to letting marketers regulate them. The long term impacts
include Great Recession and austerity that largely depend on how they affect people’s
employment and working environments. Shifting of employment patterns within the Western
World specifically, the movement from manufacturing to service industries had an adverse
impact on the male employment particularly for the men of working-class. On other hand, the
article that is “Understanding Neoliberalism’ is based on understanding the world in which an
individual live and most significant task is to develop understanding for market agenda and
tracing its consequences. It states that free market is central image and deregulatory measure
which freed up markets in capital markets with most significant neoliberal policies. Most of
the men specifically from poor-socioeconomic backgrounds are said to lack in the
interpersonal skills that are required for the service industries as well as the concomitant

emotional labour this entails. Such kind of shifts, movements and changes along with the
concerned challenges are known to influence the health of a person and populations.

References
Bhagat, A., 2020. Governing refugee disposability: Neoliberalism and survival in
Nairobi. New Political Economy, 25(3), pp.439-452.
Cahill, D., Cooper, M., Konings, M. and Primrose, D. eds., 2018. The SAGE handbook of
neoliberalism. Sage.
Dahlstedt, M. and Fejes, A. eds., 2019. Neoliberalism and market forces in education:
Lessons from Sweden. Routledge.
Fabry, A. and Sandbeck, S., 2019. Introduction to special issue on ‘authoritarian
neoliberalism’. Competition & Change, 23(2), pp.109-115.
Kaygusuz, Ö., 2018. Authoritarian neoliberalism and regime security in Turkey: Moving to
an ‘exceptional state’under AKP. South European Society and Politics, 23(2),
pp.281-302.
Peck, J., Brenner, N. and Theodore, N., 2018. Actually existing neoliberalism. The Sage
handbook of neoliberalism, 1, pp.3-15.
Phelan, S. and Dawes, S., 2018. Liberalism and neoliberalism. In Oxford Research
Encyclopedia of Communication.
Ryan, J.M., 2020. The blessings of COVID-19 for neoliberalism, nationalism, and
neoconservative ideologies. In COVID-19 (pp. 80-93). Routledge.
Stiglitz, J.E., 2019. The end of neoliberalism and the rebirth of history. Project
Syndicate, 4(11).
Online
The rise of neoliberalism: how bad economics imperils health and what to do about it, (2015).
Available at:
https://assignmentfile.s3.eu-west-2.amazonaws.com/IAH_AU/internal_cust_document/
neoliberal_242429638.pdf
Understanding Neoliberalism, (2010). Available at: https://assignmentfile.s3.eu-west-
2.amazonaws.com/IAH_AU/internal_cust_document/Neoliberal_566337258.pdf
It's done so much for human well-being, but it's far from perfect. Will capitalism as we know
it evolve into something new? (2021). Available at:
https://www.bbc.com/future/article/20210525-why-the-next-stage-of-capitalism-is-coming
Letter: Obituaries for neoliberalism are premature, (2022). Available at:
https://www.ft.com/content/e2b82257-cdf9-4e68-83d1-5870c8a613f3