Neoliberalism and Development

Abstract

Despite the stifling financial crises and the always more frequently increasing criticisms, Neoliberalism is still enduring. Nevertheless, it has hitherto proven to be inadequate and irredeemable; global vulnerability and uncertainty, angst and widespread economic disparities demonstrate the unreliability of the beforehand promised outcomes of the globalized neoliberal society. Hence, neoliberalism interferes with the welfare of the majority; as a matter of fact, just a handful of certain persons definitely achieve economic prosperity. With neoliberalism, unnatural laws and practises typical of the market ideology, for instance, the logic of competition, have progressively penetrated in the everyday life of individuals. Moreover, the process of neoliberalization, in order to effectively implement democracy and mulishly boost economic growth in developing countries, has frequently been characterized by violence and coercive brutality. So, despite all of this, why is neoliberalism still regulating our logic when dealing with our idea of future? How is it possible to modify it or, alternatively, replace it, finding a new way to conceive the government of human beings? In this thesis we will firstly try to provide a comprehensive analysis of the theories, historical evolution and application of the neoliberal doctrine. Secondly, a focus on the geographical development of this phenomenon will be unpretentiously introduced, in attain to describe the consequences of the controversial application of neoliberal policies in developing countries in different parts of the world. Finally, a more detailed attention will be devoted to the specific case of Malaysia. Precisely, we will investigate the last fifty years of the country's economic growth, to understand the effects and consequences due to the neoliberalization process which involved the country.