Verified Document

Kingstone Neoliberalism Latin America Book Review

Kingstone's Neoliberalism In Latin America Kingstone would argue that neoliberalism has not lived up to the expectations for spurring development in Latin America. Right from the outset, Kingstone acknowledges that the issue is complex, and that there are a number of contributing factors to this failure. The book attempts to delve into why neoliberalism has failed. Kingstone notes that in particular, solutions attempted during the past few decades have not paid enough attention to the role of the state in the development of the economy. The role of the state is critical, and the unique nature of Latin American states means that even if neoliberal strategies work well in other parts of the world, they may not work in Latin America. Neoliberalism, thus, needs to be adapted for the conditions of Latin America, rather than imposed upon the region with any consideration for its uniquenesses.

A supporter of neoliberalism would not argue with the contention that it has worked, unless they wanted to point out some of the anecdotal success stores. But more reasonably, a supporter of neoliberalism would argue that the approach to economic development should not take into account the nature of government in Latin America, because that nature is part of the problem. The neoliberal system is not what needs adjusting, but rather the state systems. Issues like the lack of infrastructure, corruption, and lax enforcement of laws all contribute to the development issues that Latin America faces.

1b. Opponents of neoliberalism will point less towards the institutions that get in the way of...

They might agree that issues such as corruption and crime are problems, but will more likely shift the blame for these problems back towards the wealth distribution issues that neoliberalism has. They will note that even when neoliberalism raises an economy, there are wealth distribution issues that will inevitably sow discontent among populations. There is no buy-in from the people with respect to neoliberal policies, and the system will never truly work until it demonstrates that it can actually solve problems, instead of just enhancing the wealth of those who already hold the wealth and power in the region.
2. Neoliberalism is neither an elitist project, nor is it a base for economic renewal and democratic governance, in particular the latter. Democratic governance is not a precondition for success with neoliberalism, but wealth distribution systems are. At its heart, neoliberalism seeks to reduce barriers to trade, and thereby improve the efficiency of an economy. This should, if resource exploitation rates hold steady and the population remains the same, result in economic growth. But economic growth does not mean that living standards will improve. In countries where there are few mechanisms for wealth distribution (i.e. low taxes, low penetration of land ownership, minimal public education or health care), then the new wealth generated will tend to accumulate at the top. There is little doubt that in most countries, neoliberalism essentially allows the rich to get richer, and only where the mechanisms or economic conditions for distribution are strong will the…

Sources used in this document:
References

Kingstone, G. (2010). The Political Economy of Latin America: Reflections on Neoliberalism and Development. Taylor & Francis.
Cite this Document:
Copy Bibliography Citation

Related Documents

Neoliberalism & Notion of Exploitation
Words: 2349 Length: 8 Document Type: Term Paper

As a result, to not totally lose out to Vietnam and China, other countries are competing by extending their operations 24/7 without further adjustments to the current government-mandated wages of their workers. Competition remains, as Vietnam and China can deliver like the other countries, but with significantly lower wages. Looking at the bottom line, only the workers suffer and are greatly exploited as a result of this competition among

Neoliberalism in Chile -- the
Words: 982 Length: 3 Document Type: Term Paper

"Trade union organizers, economic justice advocates, leftists and anyone else who objected to the reforms began to disappear." By the end of his regime, Pinochet may have been responsible for the deaths "of at least 3,000 people and the disappearance of many thousands more." (Bidstrup, 2005) the unionization movements, such a critical part of other Latin American nations, had effectively been rooted out. One might state that need not condone

Neoliberalism and Globalization
Words: 3744 Length: 12 Document Type: Research Paper

Neoliberalism and Globalization Globalization may be an overused word, although the new version of international capitalism is still so recent that the actual system on the ground has outrun the scientific and theoretical vocabulary that describes it. As a system, international capitalism is rapidly eliminating geographical and political boundaries, as Marx predicted in the 19th Century. In the global, postmodern economy, branding also involves relentless synergy and tie-ins between various diverse

Neoliberalism According to Benjamin Keen,
Words: 1201 Length: 3 Document Type: Reaction Paper

These Latin American countries are now, more than ever, part of the world economy, which has made other nations more interested in bolstering democracy in the region -- they now have investments to protect. The United States, for example, exert significant pressure on these Latin American democracies. The U.S. has stepped in to prevent military coups, and if it can't prevent the overthrow of democracy, it immediately punishes the

Neoliberalism and the World Economic
Words: 2117 Length: 6 Document Type: Essay

Thus, crises of capitalism have so far avoided provoking the alternative solution of a transition out of capitalism" (Wolffe 2009). Welfare state capitalism is merely one incarnation of capitalism, and neo-liberalism is not such a striking reformation of the capitalist system: it is merely one part of the cycle of managing capitalism without really changing the nature of neoliberal, state-protected capitalism. While the U.S. government's approach to the crisis may

Globalization and Neoliberalism Pros and Cons
Words: 909 Length: 3 Document Type: Essay

In Social Problems, Coleman & Kerbo (2009) discuss ways globalization and neoliberalism have impacted global inequalities and disparities. Global inequalities are not caused by singular policies but are tremendously complex, requiring nuanced perspectives and points of view. Economists, sociologists, and scholars frequently debate whether neoliberalism and global capitalism are causing or exacerbating global inequalities, or whether the ideologies and practices of the free market may be used to promote global

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now