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The Economic Origins Of Neoliberism

İlkben Akansel
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İlkben Akansel: Artvin Coruh University, Department of Economics

No 26, EY International Congress on Economics II (EYC2015), November 5-6, 2015, Ankara, Turkey from Ekonomik Yaklasim Association

Abstract: Neoliberalism is a notion which cannot be described definitively. Nevertheless, it is a notion affecting economics system in terms of its components. Taking effects since 1970, premises justifying freedom and social efficiency can only be provided by private ownership and free market; therefore, it opposes state intervention. Broadly, arguments of neoliberalism differentiate from liberal arguments, which justify classical liberalism based upon individual and firm, whereas its failure in practice causes many critical arguments. The basis of these failures is upon debating implementations of economics system that is carried on the core of neoliberalism. Neoliberalism can basically be divided into three eras: Chicago School in 1970’s opposing Keynesian economics, end of 1980’s Washington Consensus and since mid-1990’s the era of re-discussing the regulatory role of state. This study aims to examine these three economics era which are the basis of neoliberalism. Examining the features applied for each three political economics, the failure points of neoliberal discourse can be visualized. Consequently, analysis of the economics origin of neoliberal discourse will enlighten the resolution of recent economic crisis.

Keywords: neoliberalism; Chicago School; Keynesian Economics; Washington Consensus; free market; state regulator (search for similar items in EconPapers)
JEL-codes: P1 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2015
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe and nep-pke
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