What Positive Outcomes Did Neoliberal Policy Promise For Latin America?

In this weeks question Chenita Jackson asked “What positive outcomes did Neoliberal policy promise for Latin America and how did it fail to meet those promises?” Then Alexander Myers replied to Jackson’s question stating “The new liberals of Latin American politics at the turn of the twentieth century were referred to as neoliberals. Though they were “new” liberals, there ideologies and politics remained nearly identical to that of traditional liberal politics; a push for free trade and export production remained the same. The question posed suggests that neoliberalist policies failed those in Latin American countries, in some ways it did, but there were positive impacts that occurred during the neoliberalist reforms. Neoliberalism pushed

Neoliberalist policies also helped to reduce and sometimes eliminate the national debt in many Latin American countries.Though neoliberalist politics helped in many ways, there were many aspects that had a negative effect on those in poverty. Capitalism and free trade greatly benefited the middle class in Latin America and made the wealthy even wealthier, but those in poverty remained in poverty and their situations were often worse than before. These individuals were often forced into jobs that paid a miniscule wage, often a wage that was unlivable. Eventually the free trade and low import and export tariffs came to be a burden on Latin America; similar to the United States many manufacturing companies moved away to find cheaper labor and boost their profits, this left many Latin Americans unemployed.Overall the neoliberalist movement and capitalism had positive and negative impacts on Latin American societies; though it brought in foreign currency and technological advantages, it also negatively affected those in poverty. There will always be the question posed, is are liberal or conservative politics

and and how successful was it? And was there anything that wasn't successful about it?” Jasmine Perry responded “Following the Cold War, the decline of communism and the rise of capitalism had profound impacts on some Latin American nations. Chile was one of those nations. The economy of Chile along with other Latin American nations focused on neoliberalist ideals. Neoliberalism was an idea that was much like traditional liberalism and focused on free-market capitalism. The “neo” in neoliberalism only refers to the fact that the group of people were new. The Chilean Experiment is a phrase that encompasses the economic transition and growth in Chile following the Cold War and the drastic decline of communism. The Chilean Experiment focused on three key areas for the expansion of the Chilean economy including: decreased government involvement in economics, the transition of state owned businesses to private ownership, and more stable inflation rates following the 1970’s dramatic inflation changes. The “Chicago Boys” were the group of economists from the University of Chicago who were responsible for creating plans for the new Chilean economy. The Chilean Experiment was successful because the ideas from the Chicago Boys expanded the Chilean economy drastically, thus making Chile the “poster child” for neoliberalism and economic growth following the decline of communism. According to the