Assignment slide 3: Neoliberalism. Student 17236616

1. Neoliberalism
Politics Power and Resistance: Neoliberalism, Politics and
Society
Vincent Brian Quiaem
17236616

2. Neoliberalism
• The ideology of Neoliberalism
permeates through global political and
social systems resulting in the
prevalence of class interest.
• Neoliberalism as a “theory of political
economic practices proposing that
human well-being can best be
advanced by the maximization of
entrepreneurial freedoms within an
institutional framework characterized
by private property rights, individual
liberty, unencumbered markets and
free trade” (Harvey, 2007). Figure 1. David Harvey (Rivlin-Nadler, 2011)

3. The State
• Market is prioritized over state within Neoliberalism.
• State relationship to Neoliberalism consists of the construction and production of
foundations to establish the goals of removing market encumbrance, free trade and
security of personal liberty grounded on private property (Harvey, 2007).
• The utilization and implementation of bureaucracy as means for state to reinforce
Neoliberal principles (O’Neill, 1986).
Figure 2. Reagan and Thatcher(Verret, 2012)

4. Class
• The implementation of Neoliberal principles exacerbates the
disparities between opposing class interests.
• . The ideology of Neoliberalism has produced conditions for
the formations of a ruling capitalist class through the
implementation of class exclusive ideologies into state
apparatuses (Harvey, 2007).

5. ‘Creative Destruction’ 1
• Privatization: The process of privatization “amounts to the transfer of assets
from the public and popular realms to the private and class-privileged
realms” (Harvey, 2007).
• Financialization: The deregulation of the financial system as a
characteristic of implementation of Neoliberal policy permits the system to
become an instrument for wealth redistribution through “speculation,
predation, fraud and thievery” (Harvey, 2007).

6. ‘Creative Destruction’ 2
• Management of crises: The production of financial crises as
inherent to the financial and capitalist system, creates an
environment which facilitates wealth redistribution on a global
scale (Harvey, 2007). The manipulation of financial crises to
form a surplus in labour capital into low-wage surplus labour
is also attributable to the inherent nature of capitalism as well
as Neoliberalism (Harvey, 2007).
• State redistribution: Reduction in government expenditure
within spheres of social safety nets and through privatizations
of public assets and utilities, which include education,
demonstrate the extent which the state can be complicit in
classist interests (Harvey, 2007).

7. Reference List
• Harvey, D. (2007). Neoliberalism as Creative Destruction. Annals of the
American Academy of Political and Social Science, Vol. 610, NAFTA and
Beyond: Alternative Perspectives in the Study of Global Trade and
Development, pp. 22-44. Retrieved from
http://www.jstor.org.ezproxy.uws.edu.au/stable/25097888
• O’Neill, J. (1986). The Disciplinary Society: From Weber to Foucault. The
British Journal of Sociology, Vol. 37, No.1 (Mar., 1986), pp.42-60. doi:
10.2307/591050.
• Rivlin-Nadler, M. (2011). david_harvey-150x150 [Image file.] Retrieved
from: http://www.full-stop.net/2011/08/09/blog/max/rsa-animate/
• Verret, C. (2012). Liberalism 2 Reagan Thatcher [Image file.] Retrieved
from:
http://neoliberalismeducation.pbworks.com/w/page/50845304/The%20Rol
e%20of%20the%20Neoliberal%20State