NEOLIBERALISM: GOOD OR BAD?


Erin Carter UWS

Neoliberalism, an ideological apparatus characterised by David Harvey as a ‘creative destruction’, is an economic system and set of policies, principles and practices that are developed so as to ‘supposedly’ benefit a country’s people and its economy. This system has developed in the last 25 years or so (Garcia & Martinez). But how beneficial is neoliberalism to a country and its economy? I agree with Harvey in ‘Neoliberalism as a creative destruction’ (2006) as he successfully portrays the idea that neoliberalism is not an effective system and in fact results in increased economic inequality leaving the poor to become poorer and the rich to grow richer. According to Harvey (2006), neoliberalism holds a poor record of stimulating the economy yet still remains the dominant system used today in most countries across the globe. The majority of people in contemporary society are adamant that the system of neoliberalism is the…

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