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Summer Analyst

Neoliberalism is an important term that originates from revival of liberalism. During the past twenty years, neoliberalism has become much more widespread across the world. Neoliberalism as a typically political terminology emphasizes that government and country are supposed to avoid unnecessarily intervening with economy and indicates the importance of free market. History of neoliberalism can be traced back to the classical neoliberalism advocated by Adam Smith, and to the specific conception of man and society on which he founds his economic theories (Clarke, 2005). Under this viewpoint, neoliberalism is thought of as an entirely new paradigm for economic theory and policy-making.

The main characteristics and contents of neoliberalism are divided into following aspects. Firstly, the market is a totally competitive and free platform for all sellers. Regardless of social attribute and manufacturing relationship, neoliberalism aims at creating an abstractly perfect market as a theatrical advance without economic foundation and superstructure. The second thing is related with individualism, which argues that all people first should be self-regarded in any economic activity. The sum of collectivity is the sum of individual and any collective benefits cannot be achieved in the cost of individual benefits. In other word, social targets should not repress personal targets. Thirdly, it turns out to be the “invisible hand”. Free competition in the market is the only way that can achieve excellent resource distribution and fully settled job position. And the last point is that neoliberalism encouraged privatization, which is able to completely functionalize market system. In this case, private enterpriseis the most efficient company that could carry out private revolution on public resources. Neoliberalism is the deregulation and expansion of the market economy, it includes eliminating barriers to trade such as tariffs and government subsidies of national industry. 

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