Contents

• Prologue
• Classical Liberalism
• Bretton Woods, Keynesianism and abandonment of Classic Liberalism
• Post 1970: Collapse of “Bretton Woods” and the rise of neo liberalism
• World Trade Organization (WTO)
• European Union
• Capital flow & Investments
• Anglo American model of corporate governance
• The flat world – Increasing outsourcing
• Government budgetary discipline
• Weakened labour protection
• Criticism
• References

Description

Neo liberalism as a concept is a revival of the classical liberalism phenomenon and came into prominence in 1970`s with the collapse of Bretton Woods System. It has had a huge impact on the lives of people across the globe. These ideas has led the change in ways how government, corporations would operate within and outside the national boundaries. To understand the impact of neo-liberal ideas on global economic and development policies, we will have to understand the journey from its root. Neo liberal ideas seek more pragmatic improvement over the traditional classical liberal ideas in the political and economic sphere of the mankind. We would look at emergence of classical school of thought, its marginalisation in early 20th century and its revival as neo liberal school of thought in the 1970`s and recent events of subprime crisis which has triggered debates about its viability again.