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Neoliberalism Theory of Development
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Neoliberalism Theory of Development
By: Joshua Chu, William Gan, Cameron Ning
How theory defines development
Indicators used to measure development
Introduction
- Neo-Liberalism’s development is solely defined by a countries monetary value and economic/social economic growth.
- Most of Neo-Liberalism depends primarily on export and imports.
- Instead of relying on government support, it relies on the free market to solve economic issues.
- Reducing rules that restrict a businesses (deregulation)
Assumptions made by the theory
Import and Export Graph
All theories will have at least one of the following indicators:
- Economic
- Social
- Demographic
- Environmental
In development geography, we compare the different development status of countries. However, there are no criteria to determine development, so, we have resulted in many development theories; one of which is neo-liberal development theory.
Some assumptions the theory makes regarding development include:
- it is more focused on the individual
- people do not consider inequality
- trickle down economics is used to help poor.
- the economy is stable, it can be said that the government is not as effective
Neo-liberal indicators
The neo-liberal development theory's indicator(s) is mainly economic/social economic. Statistical data used to calculate the development can include the GDP, the freedom of imports and exports between other countries for trade, etc.
Introduction Continued
Neo-liberal development theory focuses on a more economic factor in a country's society.