Political Science · Political Theory
Which of these are Not related to neo-liberalism?
- 1. Keynesianism
- 2. Supply side economics
- 3. Welfare state
- 4. Market over State
- 5. Fiscal Prudence
- 6. American Hegemony
- 7. Structural Adjustment Programme
A1 and 3 ✓ Correct
B1, 3 and 5
COnly 3
D3 and 5
Correct answer: (A) 1 and 3 — Keynesianism and the welfare state are not related to neo-liberalism, so the answer is 1 and 3.
Explanation
★Keynesianism and the welfare state are not related to neo-liberalism, so the answer is 1 and 3.
★Keynesianism favours active state spending to manage demand, which neo-liberals reject.
★Neo-liberalism arose in the 1970s and 1980s as a reaction against Keynesian welfare policies.
★The welfare state too is opposed by neo-liberals, who prefer to roll back state provision.
★Neo-liberalism stands for the free market, deregulation, privatisation and a smaller state.
★Supply side economics, market over state, fiscal prudence and structural adjustment are neo-liberal tools.
★The Washington Consensus and structural adjustment programmes spread these ideas globally.
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