Generally speaking, the paper " Key Ideologies under Populism" is a great example of politics coursework. The rudimentary perception of the concept of development has received immense contention in both theoretical and political views and has thus been confronted by extensive ambiguity and complexity. This is best epitomized by the fact that the classical economists were predominantly preoccupied with what is now called economic development which is inclined towards elevating the per capita real income of a state while the neoclassical economists paid limited to this issue altogether (Nielsen, 2011, p.
5). On the other hand, certain approaches to development have been dominant in the political and theoretical agenda from time to time. It is worth to be cognizant of the fact that these approaches to development have their own strengths and weaknesses as expounded by their proponents and opponents respectively. Against this background, this paper will analyze two primary ideologies namely neoliberalism and populism, their basic characteristics as well as their critiques. Subsequently, it will rationalize one of this model which is more ideal in the efforts towards poverty alleviation and accelerated socio-economic development in poorer countries. Neo-liberalism This is one model which has received extensive discourses in relation to its positive as well as positive implications on development, and more generally, on the specific role of the state. In regard to its evolution, Ibrahim (2011, p.
2) cited that neo-liberalism as a worldwide approach dominated the development literature and practice at the global level mostly from 1970. It was primarily underpinned on the efforts towards the creation of free markets, improvement of growth and the general replacement of Keynesianism which had previously been marred by extensive loopholes.
It thus aimed at minimizing and if possible totally eliminating the role of the state in the economy which had been perceived as culminating to the poor performance of many countries around the globe. Key ideologies under neo-liberalism One of the most salient ideologies underpinning neoliberalism is the prominence of free markets. To a great extent, the proponents of this model believed that the free-market approach would make extensive contributions to the economic growth of different countries which would be central in the alleviation of poverty and increase the level of individual and collective liberty.
Thus, it was cited that the neo-liberal reforms could be prudent in achieving increased economic growth when juxtaposed with other approaches (Ibrahim, 2011, p. 3). Thus, neo-liberalism at the national level is characterized by the removal of the state intervention in the market, for instance, in the regulation of prices of various products and factor markets. In relation to the above, neo-liberalism at the international level is founded upon the ideology of liberalizing foreign trade which insinuates to the abandonment of quotas and minimization of duties levied on foreign products (Ozturk, 2011, p.
89). Thus, this meant the opening up of the countries which were considered as ‘ closed economies’ like China among others mostly in the previous communist world. This would increase the flow of foreign goods from other nations into these markets which was considered imperative in the minimization of monopoly in production as well as increasing the consumer choice. This has been perceived as a great propeller of heightened economic globalization in the contemporary world.
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