ABSTRACT
Neoliberal policies have had devastating effects on developing countries and people living in poverty. Under the guise of expanding economic opportunity for all, globalization through neoliberal capitalistic policies have served to primarily benefit wealthy nations and the wealthy individuals within those nations. Neoliberal capitalism operates under the belief that a free and unregulated market is able to provide more efficient and fair outcomes for individuals than the government (Ossei-Owusu, 2012). Neoliberal economic policies promote the idea that a free market is essential for sustained economic growth and prosperity (Haque, 1999). Therefore, policies push for privatization of government services, liberalization of trade practices, deregulation of the marketplace, a reduction in social welfare programs, and a greater emphasis on individual self-interest over the interests of the greater society (Coburn, 2004). Neoliberal policies often involve a shift in the role of the federal government and its responsibilities to state and local governments and ultimately the people, and promote privatization of public services under the assumption that more localized control and privatization create greater choices, opportunities, and income for individuals (Wacquant, 2009).
