ABSTRACT
Neoliberalism is the dominant paradigm of the present-day global capitalist system. It is in the first instance a theory of political economic practices that proposes that human well-being can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterized by strong private property rights, free markets and free trade (Harvey, 2005: 2). Neoliberalism demands that governments should dismantle the political and economic constraints on capital constructed through decades of struggle and compromise (Panitch et al., 2006: 2). Further, it holds that the social good will be maximized by maximizing the reach and frequency of market transactions, and it seeks to bring all human action into the domain of the market (Harvey, 2005: 3).
