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David Harvey A brief history neoliberalism chapter 1 notes

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  • Human geography
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  • University Of Reading (UoR)
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  • A Brief History of Neoliberalism

DAVID Harvey: A brief history of neoliberalism: CHAPTER ONE: FREEDOM’S JUST ANOTHER WORD NOTES this is a summary of chapter 1 in david Harvey's book

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  • 29 de agosto de 2019
  • 5
  • 2019/2020
  • Notas de lectura
  • Desconocido
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  • geography
  • economic geography
  • politics
  • international relations
  • neoliberalism
  • globalisation
  • political geographies
  • geography of development
  • war
  • economics
  • development

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DAVID Harvey: A brief history of neoliberalism notes:

CHAPTER ONE FRREDOM’S JUST ANOTHER WORD

Introduction:

 Volcker (Commander of the US fed reserve in 1979) – changed monetary policy due to
inflation + unemployment
 Margaret Thatcher elected as Prime Minister of Britain in May 1979 = wanted to curb trade
union power and put an end to inflationary stagnation
 1980 – Ronald Reagan – elected president – wanted to curb power of labour, deregulate
industry, agriculture and resource extraction and liberate the powers of finance
 Led to the new economic configuration – often subsumed under the term globalization
 Deng Zaioing – saw wealth in Asia and sought to mobilize market socialism
 Thatcher + Volcker = used neoliberalism’ = became guiding principle of economic thought
and management
 Harvey interested in its origins, rise & implications
 Neoliberalism – is a theory of political economic practises that proposes that human well-
being can best be advanced by liberating individual entrepreneurial freedoms and skills
within an institutional framework characterised by: strong private property right, free
markets and free trade.
 The roles of the state is reduced to: military, defence, police and legal structures and
functions required to secure private property rights and to guarantee by force if need be the
proper function of markets
 If there are no markets (in land, water, education, health care, social security, or
environmental pollution) = must be created
 STATE INTERVENTION IN MARKETS = MINIMUM – state does not have enough info to second
guess market signals (prices) ad because powerful interest groups will inevitably distort the
state intervention
 All countries turn towards neoliberalism in political-economic practices since 1970s
 Deregulation, privatization and withdrawal of the state from areas of social provision –
common
 Neoliberal way of thinking occupies education and international institutions
 Neoliberalism has become a hegemonic
 Neoliberalism has caused ‘creative destruction’ to institutional frameworks, power, labour,
social relations, welfare, technology, way of life, thought, & attachments to the value and
habits
 It guides all human action –
 New technology necessary for the maximising the reach and frequency of market
transactions = makes people believe that there is an ‘information’ society
 Harvey wants to: helps us understand the political-economic story of where
neoliberalisation came, how it proliferated

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