11th Grade

POLITICAL IDEOLOGY:
NEOLIBERALISM
Philippine Politics and
Governance
LAISSEZ-FAIRE
• Neoliberalism is based on LAISSEZ-FAIRE economics which upholds
free markets and trade of liberalization.

• Laissez faire is a French term that translates to "leave alone". Laissez

faire economics is a key part of a free market capitalism.

• Laissez faire is an economic theory from the 18th century, that opposed
any government intervention in business affairs.

• Belief in laissez faire was a popular view during the 18th century. Its
proponents cited the assumption in classical economics of a natural
economic order we support for these faith in unregulated individual
activity.
 WHO
IS
? FREDERIC
K HAYEK? ?
 FREDERICK
HAYEK
• Frederick Hayek is an Australian-born economist.

• He was the one who thought of an idea- which is the

neoliberalism.

• Neoliberalism was from a classical liberalism from the

18th century. And it is for the defense of individual liberty
protecting private property and the freedom if markets
from external interference like tax and regulations
NEOLIBERALI
KEY TAKEAWAYS ABOUT

SM
 KEY TAKEAWAYS ABOUT
NEOLIBERALISM
• The policies of neoliberalism typically
supports fiscal austerity, deregulation, free •Neoliberalism believe
trade, privatization and a reduction in
government spending that economic growth is
key to human progress,
•Neoliberalism is often associated with the government must not
economic policies of Margaret Thatcher in intervene in the activities
the United Kingdom and Ronald Reagan
in the United States or markets and capitalist
 .
THE THEORY
DAVID
OF
HARVE
Y
 THEORY OF DAVID
HARVEY
According to the theory, the neoliberal state should favour strong
individual property rights, the rule of law, and the institutions of
freely functioning markets and free trade. These are the
institutional arrangements considered essential to guarantee
individual freedoms. The legal framework is that of freely
negotiated contractual obligations between … individuals … The
sanctity of contracts and the individual right to freedom of action,
expression, and choice must be protected. The state must therefore
use its monopoly on the use of the means of violence at all costs.
 COUNTRIES
THAT USES
NEOLIBERALISM
 1
 Margaret Thatcher
COUNTRIES THAT USES -Former Prime
NEOLIBERALISM Minister of the
United Kingdom

3 2
 Deng
 Ronald Reagan
Xiaoping
-40th U.S. -Former Chairman of
President the Chinese People's
Political Consultative
 COUNTRIES THAT USES
NEOLIBERALISM
They're the champions of neoliberalism. They fought
the trade unions who perhaps opposed to this doctrine
of neoliberalism.

Their views were enthusiastically embraced by the

major conservative political parties in Britain and the
United States, which achieved power with the lengthy
administrations of British Prime Minister Margaret
Thatcher (1979–90) and U.S. Pres. Ronald Reagan (1981–
89).