1. Neoliberalism:
A political philosophy whose advocates support economic liberalizations, free trade and open markets, privatization, deregulation, and enhancing the role of the private sector in modern society.
In essence: Capitalism vs. extreme governmental regulation
2. Structural Adjustment:
World Bank and IMF programs aimed to change the structure of a nation's economy (more capitalistic; private enterprise, less governmental involvement)
http://www.who.int/trade/glossary/story084/en/
Some Key points: (from "The Impact of Structural Adjustment Programmes on Kenyan Society" by J.K. Rono)
3. Essay Work time
A political philosophy whose advocates support economic liberalizations, free trade and open markets, privatization, deregulation, and enhancing the role of the private sector in modern society.
In essence: Capitalism vs. extreme governmental regulation
2. Structural Adjustment:
World Bank and IMF programs aimed to change the structure of a nation's economy (more capitalistic; private enterprise, less governmental involvement)
http://www.who.int/trade/glossary/story084/en/
Some Key points: (from "The Impact of Structural Adjustment Programmes on Kenyan Society" by J.K. Rono)
- Long-term goal of SAPs is to improve economy.
- Short-term results are erosion of social services as private companies don't focus on welfare programs
- Ex: World Bank provides a loan to Kenyan government but with conditions. I.E., must lower price of exports, must grow cash crops (rice, flowers) open doors to private industry.
- Results of that: local products subject to competition from imported ones
- Less local food/resource production, more reliant on exports
- When global market fluctuates, affects citizens. Ex- 1970's oil price rose. Citizens struggled. Led to social unrest and uprising
- increased gap between rich and poor (money goes to the political leaders and business elite with no promise to support social services/welfare programs); private enterprise booms; trickle down theory DOES not work.
- Education inequality increases (government not funding public schools adequately, wealthy families seek private ed)
3. Essay Work time