DVM 1100 Lecture Notes - Lecture 6: Neoliberalism, Invisible Hand, False Dilemma

• School: University of Ottawa
• Department: International Development and Globalization
• Course: DVM 1100
• Professor: Mahmoud Masaeli

Document Summary

Also known as hyper globalization or global capitalism. Strong belief in unrestricted economic development based on unbridled capitalism. A firm belief that globalization is happening and an inevitable part of humanity"s. Corporations must be able to operate unrestricted, all over the world. In the context of globalization this extends to free trade and unrestricted borders. Neoliberalism believes that government involvement inherently puts itself at odds with freedom. This idea was summarized in bankers and economists. Government so they could join the developed world. International corporations, capable of taking advantage of low wages and resource. Rich countries, who find a labour and resource base in developing countries. A dynamic of debt with developing countries. Champions a very western idea of development, liberal values and capitalism. Creates a predatory relationship between countries with capital and those without, developing countries need foreign investment to survive and are at the mercy of multi-nationals.