Neo-liberalism has infuenced greatly to world economy these days. But the concept which generally used was too diverse and so coufused. It objects to economic intervention of nation state in light of A. Smith's liberalism, 'cheap government'. But obje...
Neo-liberalism has infuenced greatly to world economy these days. But the concept which generally used was too diverse and so coufused. It objects to economic intervention of nation state in light of A. Smith's liberalism, 'cheap government'. But objection to state intervention by M. Friedman's group is anachronical and ridiculous when economy has converted from perfect competition to monopoly capitalism.
Deregulation policy to financial sector in Great Britain and United States has expand neo-liberalism to world economy extremely. It came from economic crises of G. B. and U. S. But under the neo-liberalism, state intervention was not decreased and welfare system too. Economic development through financial bubble just aggravated economic crises more seriously. At last regulation against financial sector has been made by Obama again. The age of neo-liberalism is ended. Future world would be under the Beijing concensus on the development of underdeveloped countries and welfare systems in the advanced economies are remained incessantly.