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LIBERALISM -II (NEO LIBERLAISM: 1970-1990'S (REASON WHY NEOLIB…
LIBERALISM -II
NEO LIBERLAISM:
1970-1990'S
IN SIMPLEST TERM IT IS MARKET FUNDAMENTALISM
NEO-LIB IS REVIVAL OF CLASSICAL LIB:
BUT IN A WAY MORE DEHUMANISNG:
GOING TO ANY EXTENT FOR MARKET
DIFFRENCE IN CLASSICAL AND NEO-LIB
CLASSICAL LIB:
NO INTERFRENCE OF STATE IN ECONOMY
ADAM SMITH: FREEDOM FOR MARKET
MARKET IS PRINCIPLE IN ECONMIC
NEO- LIB:
MARKET A SOLUTION FOR EVERYTHING
MILTON FRIEDMAN:CAPITALISM NECESSARY FOR FREEDOM
MARKET IS PRINCIPLE IN ALL ASPECTS OF LIFE..
PROJECTED MARKET AS GOD
NEO - LIB IS LEAST LIBERAL AND MOST FUNDAMENTALIST AS FAR AS MARKET IS CONERNED... THAT Y IT IS CALLED
NEW RIGHT
REASON WHY NEOLIB ORIGNATED:
BECOZ WELFARE STATE BECAME UNSUSTAINABLE(AS HELD BY HABER MASS)
WELFARE STATE IN WESTERN COUNTRIES BECAME TOO BIG : REFERED AS NANI STATE
STATE WAS EXPECTED TO TAKE CARE OF MAN FROM CRADLE TO GRAVE IN WELFARE STATE
BUT STATE STARTED HAVING FISCAL DEFICITS.. SO STATE HAD NO OPTION BUT TO ROLL BACK
SO NEO- LIB STARTED IN UK BY THEIR PM: MARGRAT THACTHER: THACTHERISM IN 1970
IN 1980'S US PRZ: RONALD REGAIN STARTED NEO. LIB POLICICES CALLED REGANOMICS
IN 1990'S SPRAD ALL ACROSS THE WORLD
IN FORMER COMMUNIST COUNTRIES IT ENETRED AS A SHOCK TREATMENT
IN COUNTRIES LIKE INDIA AND 3RD WORLD INTODUCED AS STRUCTURAL ADJUSTMENT PLAN
AND I 1995 URUGAUY ROUND TALKS LEADS TO ESTD. OF WTO
IMF, WORLD BANK, WTO : PILLARS OF NEO-LIB
PROMIENT PHILOSOPHER OF NEO-LIB
HAYAK
CALLED AS FATHER OF NEO- LIB: INFLUENCED THACTHER ALSO
CRITIC OF CENTRALISED PLANNING
PLANNIG AS IRRAATIONAL EXERCISE WHICH IS BOUND TO FAIL
ACC. TO HIM MARKET LIKE A HUGE CENTRAL NERVOUS SYSTEM... MARKET BASED ALLOCATION IS THE IS BEST
HAYEK ON SOCIAL JUSTICE:
HELD THAT SOCIAL JUSTICE IS A MIRAGE( AN UNACHEIVABLE THEROY)
JUSTICE IS VIRTUE OF PERSON NOT OF STATE
IN NAME OF JUSTICE STATE INCREASE IT POWER
MONEY THAT IS TAKEN FROM PRODUCTIVE CLASS DOESN'T REACH TO TARGETTED SECTION .. AND GIVES RISE TO PARRALLEL ECONMOY
IT REACHES POCKET OF POLITICIAN AND CIVIL SERV.
ACC. TO HAYEK:PROGRESSIVE TAXATION IS A BONDED LABOUR
INSTEAD OF STATE PROVIDING JUSTICE.. STATE PROMOTE CHARITY
IF A PERSON IS POOR IT IS NOT FAULT OF RICH, BUT POVERTY IS A BAD LUCK
HENCE FOR REMOVAL OF OVERTY COERSION OF RICH IS NOT JUSTIFIED
ACC, TO HAYEK : TRUE FREEDOM IS FREEDOM FROM COERSION NOT POSITIVE FREEDOM
ROBERT NOZIK
A CRITIC OF RAWLS
ACC. TO NOZIK: MINIMAL STATE IS INSPIRING AND RIGHT
NOZIK REVIVED THE IDEA OF NIGHTWATCHMAN STATE
AND HELD THAT STATE HAS NO ROLE IN
DISTRIBUTIVE JUSTICE
NOZIK EVEN REGARDED AS SEMI ANARCHIST: HE BELIEVE THAT EVEN SECURITY SERVICES CAN BE PROVIDED BY PRIVATE SECTOR
MILTON FRIEDMAN:
BOOK:CAPITALISM AND FREEDOM
HELD THAT FREEDOM IS NOT NEEDED FOR MARKET RATHETR MARKET IS NEEDED FOR FREEDOM
COUNTRIES WHERE CAPITALISMIS ABSENT: THERE IS NO SCOPE FOR PEOPLE TO ENJOY FREEDOM
IT IS FOR THIS REASON NEO-LIB CALLED MARKET FUNDAMENTALISM
MURRY RUTHBARD:
COMARED POLITICIAN AND BUREAUCRATS AS GANGS OF THEIVES
AND CENTRAL BANK AS LEGISLATIVE FRAUD
NEO LIB STRATEGY FOR POVERTY ALLEVIATION IS TRICKLE DOWN EFFECT
JOHN WILLIANSON
GIVES 10 POINT WASHINGTON CONSENSUS:
REDUCTION IN FISCAL DEFICIT
PRO INDUSTRY TAX REFORMS: LIKE VAT
NO INDISCRIMNATE SUBSIDY: THAT WHY DEVELOPED COUNTRIES CRYING OVER INDIA SUBSIDES
MARKET DETRMINED EXCHANGE RATE, INTERST RATE
TRADE LIBERALIZATION: REDUCING TARIFF & NO TARIFF
PROMOTION OF FDI
DISINVESTMENT IN PSU
DEREGULATION
PROTECTION OF RIGHT TO PROPERTY
NEO LIB: CAN BE UNDERSTOOD BY WASHINGTON CONSENSUS
GLOBALISATION IS GLOBAL EXPANSION OF CAPITALISM
DOES LIBERALISM WON BATTLE OF IDEOLOGIES?
LIBERALISM ONE OF THE LONGEST SURVIVING IDEOLOGY OF THE WEST
LIBERALISM FACED MANY CHALLENGES FROM DIFFERENT IDEOLOGIES IN DIFFERENT TIMES:
COMMUNSIM : OCTOBER REVOLUTION 1917
FASCISM : IN INTER WAR PERIOD
WORLD WAR II: FASCISM DEFAETED
1991 DISINTEGRATION OF USSR: COMMUNISM DEFAETED
THIS LED FRANCIS FUKUYAMA HELD THAT
AT END OF COLD WAR PROCLIAMED LIBERLAISM AS END OF HISTORY
LIBERALISM: HIGHEST POINT IN IDEOLOGICAL EVOLUTION OF MAN
HOWEVER IT IS EARLY TO SAY THAT LIBERALSISM HAS WON BATTLE OF IDEOLOGIES: AS
LIBERALISM CHALLENGED BY
IN PHILOSOPHY:
COMMUNITATIANISM
MULTICULTURALISM
POST MODERNISM
IN POLITICS:
ISLAMIC FUNDAMENTALISM
CONFUCIANISM(CHINESSE MODEL)
EMERGENCE OF RIGHT AND LEFT
CRISIS IN NEO LIBERAL MODEL AS:
GROWTH OF INTER STATE AND INTRASTATE INEQUALITIES
GROWTH OF ANTI GLOBALIZATION MOVT. : LIKE DECLINE OF EU PROJECT
SINCE 2008 NEO LIBERAL ORDER STARTED IMPACTING EVEN WESTERN COUNTRIES ALSO
MARXISM WILL ALWAYS REMAIN RELEVANT CRITIQUE OF LIBERALISM
MARXIST SCHOLARS HELD THAT
RALPH MILIBAND: IN BOOK:
SOCIALISM OF SKEPTICAL AGE
MOTION THAT CAPITALISM HAS BEEN THOROUGHLY TRANSFORMED AND REPRESENT THE BEST THAT HUMAN KIND HOPE TO ACHIEVEIS
DREADFUL SLUR ON HUMAN RACE
TERRY EAGLETON
IT IS FASHIONABLE TO SAY THAT SOCIALISM IS IRRLEVANYT & MARX IS OUTDATED:
BUT THE MORE WORLD HAS CHANGED IT HAS REMAINED SAME
THE INEQUALITIES OF 18TH AND 19TH CENTURIES HAVE REEMERGED: SIMILAR VIEW IS ALSO HELD BY MODERN MARX THOMAS PIKETY
IMMANUEL WALLERSTIEN
MANKIND HAS TWO OPTIONS :EITHER SOCIALISM OR BARBARIANISM
SOCIAL LIBERALISM:
OR LIBERAL EGALITARIAN
REVIVAL OF MODERN LIBERALISM(WELFARE APPROACH) BUT APPORACH OF SOCIAL LIBERALS DIFFERED FROM MODERN LIBERALS
MODERN LIBERALISM
CALLED FOR: STATE INTERVENTION IN ECONOMY LIKE STATE ESTD PSU FOR PROVIDING EMPLOYMENT.
SOCIAL LIBERALISM
IS BASED ON CONCEPT OF PARTNERSHIP B/W STATE , PRIVATE SECTOR AND CIVIL SOCIETY
PRIVATE SECTOR: RESPONSIBILTY OF PROMOTING GROWTH
STATE: ACTING AS FACILITATOR
CIVIL SOCIETY: ENSURE TRANSPERANCY AND ACCOUNTABILTY
SOCIAL LIBERALS SUGGEST STATE TO INVEST IN CAPACITY BUILDING
SOCIAL LIBERALS LIKE:
JOHN RAWLS:
BRINGS BALANCE B/W MERIT AND NEED
CRITICISES UTILITARIAN THEORY OF JUSTICE
ESTD. CONCEPT OF MORAL INDIVIDUALISM
AMARTYA SEN:
PROPOSES IDEA OF CAPACITY BULDING
INSTEAD OF WB APPORACH TO GOOD GOVERNANCE BASED OF PRIVATISATION
ARMARTYA SEN PROPSESE HUMAN GOVERNANCE BASED ON HUMAN DEVELOPMENT
JOSEPH SITTIGLETS
SHOWN FUNDAMENTAL FLAWS IN NEO-LIBERAL ORDER
GIVEN CONCEPT OF POST WASHINGTON CONSENSUS BASED ON INCLUSIVE GROWTH AND DISTRIBUTIVE JUSTICE