Knowledge sharing point

Neoliberalism: Springer et al 2016. Define neoliberalism as the “new political, economic and social arrangements within society that emphasise market relations, a re-tasking of the role of the state and individual responsibility.” They go on to argue that neoliberalism extends the competitive markets into all areas of life including the economy, politics and society. NB: Key idea of neoliberalism in politics – death of the labour party as they rewrote clause IV which resulted in no longer seeking to nationalise key industries, this could be seen as a betrayal of socialist values and demonstrates the success of neoliberalism. This breaks away from the longest suicide note in history termed by Kaufman where greater state ownership was proposed. A Multi-faceted Concept: An Ideology A hegemonic ideology since the last four decades which aims to roll back the frontiers of the state to embody classical forms of liberalism. Consider the hegemonic stability theor...

Trade for Growth: Revaluating the Argument for Free Trade and Exploring Unorthodox Trade Pathways for Growth.  The current international trade regime is characterised by the advocacy of free trade. The arguments of free trade date back to Adam Smith (1776) in which he argues that “It is the maxim of every master of a family never to attempt to make at home what it will cost him more to make than to buy…if a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it off them with some part of the produce of our own industry, in which we have some advantage”.   Mankiw (2004) claims the free trade argument is conventional wisdom and that “few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards”. However, such a surface view ignores the “ladder-kicking” (Chang, 2002) of the international trade regime as all major developed countri...