Advantages And Disadvantages Of Neoliberalism

The 18th-century economic principle of laissez-faire, the idea that everything should take its own course without government interference, has been resurfacing as neoliberalism. Neoliberalism is a 20th-century movement of large-scale production to developing nations and the push for free global trade that is made possible by the greater global connectedness, a result of globalization. Open trade markets are beneficial to members of the upper-class western world who can purchase goods at lower prices. Similarly, the production economy of the global south profits as unemployment is decreasing; however, exploitation of workers is on the rise. However, unethical practices of multinational corporations, heightened organized crime rates and the interference of international financial institutions bring into question whether the benefits are truly worth the disadvantages. “Buy cheap, sell dear” is the motto many Multinational …show more content…
Instability and chaos took the place of peace and control as the fall of communism lead to freedom in moving across borders. Before free trade, the impact of crime was very localized, but now, because of less government interference, technology, and the internet, crime is feasible across borders with the click of a button. Today, what Misha Glenny refers to as McMafia or criminal networks, make up fifteen percent of the global economy (Glenny, TED Talk).
Economic growth in Peru can be directly linked earnings from organized crime. – between human trafficking and the production and exportation of cocaine, about 7 billion dollars are pouring into the economy annually (Muggah, McDermott, 2013). While human and drug trafficking are serious crimes “there is remarkably little concern,” perhaps because too many people depend on the revenues of this shadow economy and the western desire to consume is still driving these criminal