This assignment delves into the multifaceted theory of neoliberalism. It examines its positive contributions to globalization, international trade, and economic growth, highlighting concepts like market liberalization and reduced state intervention. However, it also critically analyzes the potential downsides of neoliberalism, including concerns over widening income inequality, social injustice, and environmental degradation. The text explores diverse perspectives on neoliberalism, considering both its proponents and critics within academic, political, and activist circles.