chapter  7
26 Pages

Reappraising Neoliberalism: Homo Economicus, Practitioners and Practices

At the core of neoliberal theory, we often find a normative account of the relationship between state (or politics) and economy. In its essence, neoliberalism suggests free market principles and rationality as a cure to the alleged inefficiencies and ineffectiveness of the ways in which we manage our institutions. It is from this background that neoliberalism also argues in favour of markets being free from intervention. Hence, one finds neoliberals arguing for privatisation, free trade, tax reduction, elimination of price controls, competition in all sectors and many other similar macro-economic and political changes.