Neoliberalism is a political economic theory, which can be referenced by discerned modalities and perspectives of understanding and subsequent application. Harvey (2005) asserts that neoliberalism is a class-based mechanism that places power in the hands of the ‘’economic elite’’. This is consistently supported by scholarly articles on neoliberalism, that elucidate findings that, the rich are the beneficiaries whilst the poor suffer the consequence of limited agency (Ganti 2014, Ferguson 2009). Ganti (2014) identifies three distinct arms of scholarship utilising neoliberalism frameworks.
“neoliberalism as a structural force that affects people’s lives and life-chances; neoliberalism as an ideology of governance that shapes subjectivities; …show more content…
For clarification purposes related to this paper, it is worth noting that policies and politics juxtaposed with ideologies and values, provides two distinct perspectives to allow analysis to occur. These elements however are not discrete from each other but are differentiated with the former concerning itself with political economy and macroeconomic policy including the notion of privatisation and welfare reform agendas, whilst the later concerns itself with the notion of individualism and market competitiveness through technologies influencing the thinking around self and governmentality (Ganti 2014). Additionally the sites and agents of neoliberalism allow us to identify the players, whether structurally or ideologically, that impact on outcomes at both the societal and individual level (Ganti …show more content…
Foucault (2008: 268) however identifies the economic imperative in some instances as flawed, due to not all human endeavour having an economic consideration, but that none the less, the concept of homo economicus and its application pervades neoliberal applications to the allocation of resources. The strategic allocation of resources, therefore, can be driven by projected economic optimisation thus providing a rationale for decisions made by an individual (Foucault 2008:269). “Homo economicus is someone who is eminently governable” (Foucault 2008:270) in as much as they accept reality as represented to them, and respond systematically to changes in the environment as established by others for them. Foucault established his theory early in the 1970s push to intensify neoliberalism and perhaps a more accurate description of doxa of the role of the individual is to be self-governable, responsible for oneself and in control of ones actions that comply with expected behaviours and outcomes (Bourdieu 1998). As neoliberalism extends further Homo economicus become a partner to the state, changing as required to ensure optimisation of the modifiable environment at any given
“neoliberalism as a structural force that affects people’s lives and life-chances; neoliberalism as an ideology of governance that shapes subjectivities; …show more content…
For clarification purposes related to this paper, it is worth noting that policies and politics juxtaposed with ideologies and values, provides two distinct perspectives to allow analysis to occur. These elements however are not discrete from each other but are differentiated with the former concerning itself with political economy and macroeconomic policy including the notion of privatisation and welfare reform agendas, whilst the later concerns itself with the notion of individualism and market competitiveness through technologies influencing the thinking around self and governmentality (Ganti 2014). Additionally the sites and agents of neoliberalism allow us to identify the players, whether structurally or ideologically, that impact on outcomes at both the societal and individual level (Ganti …show more content…
Foucault (2008: 268) however identifies the economic imperative in some instances as flawed, due to not all human endeavour having an economic consideration, but that none the less, the concept of homo economicus and its application pervades neoliberal applications to the allocation of resources. The strategic allocation of resources, therefore, can be driven by projected economic optimisation thus providing a rationale for decisions made by an individual (Foucault 2008:269). “Homo economicus is someone who is eminently governable” (Foucault 2008:270) in as much as they accept reality as represented to them, and respond systematically to changes in the environment as established by others for them. Foucault established his theory early in the 1970s push to intensify neoliberalism and perhaps a more accurate description of doxa of the role of the individual is to be self-governable, responsible for oneself and in control of ones actions that comply with expected behaviours and outcomes (Bourdieu 1998). As neoliberalism extends further Homo economicus become a partner to the state, changing as required to ensure optimisation of the modifiable environment at any given