This document discusses neo-liberalism as the dominant theory in globalization. It describes neo-liberalism as promoting individual liberty and free markets with limited state intervention. The document outlines key thinkers in neo-liberalism like Friedrich Hayek and Milton Friedman. It also discusses how neo-liberal policies were implemented in Chile in the 1970s and then spread globally through organizations like the IMF and World Bank, though with negative consequences like inequality. The document closes by noting the decline of neo-liberalism since the late 1990s financial crises and rise of opposition movements.