Neoliberalism Essay Example | Topics and Well Written Essays - 500 words

Neoliberalism - Essay Example A contemporary addition is the inclusion of technological changes. According to economic liberals the line between political and economic power is so faint that they both concurrently wield enough propensity to affect society. The main difference however, between economic power and political power is the inherent weakness of efficiency in politics. In order words, the state lacks the capacity to process the information required to facilitate the process of efficient allocation. In a related sense the state beaurocracy can serve as a draw back to meaningful progress, thus the main motivation behind the argument in favor of less state involvement in economic activities in the view of liberals. Soon after the official end of the Second World War, the world witnessed a radical confrontation of the previously held foundational theories of economic liberalism. In many ways this can be said to be a direct result of an emerging global order that divided the world into the "haves" and the "have nots." It became apparent that most of the conventional theories failed to work for the developing world. It therefore sparked off a new dispensation economic theories that sought to address these visible imbalances at all levels.