Neoliberalism is a system that has swayed the globe for decades. Although many are unaware of what the term really means, it is important to understand because it helps us to grasp what is going on around us since it is the philosophy that currently dominates the world. Neoliberalism has been an important aspect of our economic system since the 1980’s. It is not uncommon to mistake the ideas of capitalism with neoliberalism; however, there are some major differences. While the main idea of capitalism revolves around the importance of maintaining that all production is to be privately owned while the citizens work for a profit, neoliberalism, alternatively emphasizes three specific topics: globalization, privatization, and deregulation. Cultural …show more content…
Harvey’s emphasis on the destructivity of neoliberalism is apparent when He explains the way neoliberalism creates economic opportunity, but destroys other areas of society such as prior institutional frameworks and powers but also of divisions of labor, social relations, welfare provisions, technological mixes, ways of life and thought, reproductive activities, attachments to the land and the habits of the heart (Harvey, David). While Harvey seems to agree with Hall that neoliberalism is a successful way of generating profit - it also has the afore mentioned destructive tendencies. These tendencies are described by Harvey are responsible for the insecurities many feel among following the ways of neoliberalism. The primary concern about neoliberalism is that the poor continue to get poorer while the rich get richer. This increased focus on competition leaves many members of society falling behind. Conversely, Hall seemingly disregards the insecurities that are ever so present in Harvey’s description of neoliberalism while he describes the