What is Neoliberalism?

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Neoliberalism and its Impact on Citizenship and the Relationship between the Individual and the State

Neoliberalism refers to strategies that combine the social sciences and economics with the goal of shifting control of the economy from the public sector to the private sector. Neoliberalism is based on the principle of promoting economic growth through increased competition. Strategies pursued in neoliberalism include privatization, deregulation, welfare, opening free markets, reducing government spending, and increasing corporate influence and involvement in governance. Relating to Ante (2015), Andrea (2012) and Koch 2015, what does neoliberalism mean for citizenship and/or the relationship between the individual and the state?, repeatedly complaining of neglect and abandonment by the state. Traditionally represented working class people have been represented as people who are self-sustained and do not need any support from the state. The working class communities are presumed to be governed by multifocal ties and mutual care. This impression alienates the state and it appears like an external entity that is against a unitary community. Council estate residents bemoan insufficient state presence, with the expectation that the state will provide services and resources in the estate. This case therefore highlights a particular innate defection from a neoliberal perspective, whereby residents feel more need for government.

The Swedish Pension Scheme and Neoliberal Principles

In her review about the orange envelope Annette deduces that the Swedish pension scheme allows the formation of a governance structure that is edged on neoliberal principle. The overall aim of the scheme is to depoliticize the existing contemporary welfare policy. The structure of the pension scheme offers a compromise between redistribution and a funded program. The scheme embraces every citizen’s participation and ensures guaranteed pension. The scheme is primarily based on individual and lifetime contributions.

The Concept of Social Citizenship and its Connection to Neoliberalism

In The Moral Neoliberal, the West has entrenched a model of social citizenship by the development of national systems of welfare state. As Western economies grow through industrial production there is a deeper need for wealth redistribution mechanism. Social citizenship was seen as an organically conceived system of obligations among societal collectivises, wherein the state emerged as but one of several constituencies. welfare state can be termed as manifestation of a present; it is inclined as a working principle of solidarity in re-distributional reciprocity.

The Impact of Neoliberal Policies on People's Lives

How have neoliberal policies impacted the lives of people mentioned in the above studies?

Market Fundamentalism and its Concerns

The concept of neoliberalism in the three cases aforementioned pose significant concerns on Market fundamentalism. The use of free markets in English council and the Swedish pension scheme is misplaced since these are services not subject to profit motivation. Additionally, free market disregards the externalities of pension schemes and public housing. Implementing a free market approach can lead to widening inequality and under-provision by critical institutions and sectors of the economy. People who do not earn much have limited purchasing muscle while the rich have a higher marginal propensity to save, thus wealth doesn’t ‘trickle down’.

Growth of Financial Flows and the Deregulation of Capital

The above cases have also lead to Growth of financial flows from capital deregulation. Capital deregulation does not necessarily aid economic development, instead it has lead more financial instability causing significant economic shocks. Studies by the International Monetary Fund (IMF) indicate upsurge in capital flows is major contributor to increased risk of adverse cycles.

April 19, 2023

Sociology Culture



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