Role Of National Governments Flashcards
Define the term neoliberalism.
Neoliberalism refers to a political and economic model associated with free-market liberalization and reduced government intervention in markets.
What are some of the main pros of neoliberalism?
Some pros of neoliberalism include:
* Increased economic efficiency
* Greater competition
* Encouragement of business startups
What are some of the main cons of neoliberalism?
Some cons of neoliberalism include:
* Widening income inequality
* Reduced access to public services
* Potential neglect of social welfare
Neoliberalism is associated with the policies of which US president?
Ronald Reagan
What was a significant government action taken under neoliberalism in the 1980s?
Privatization of state-owned assets
How does government intervention in markets affect economic development according to neoliberalism?
Government intervention impedes economic development.
Fill in the blank: The Open Door Policy was announced by _______ in December 1978.
Deng Xiaoping
What is the purpose of special economic zones in the context of neoliberalism?
To attract foreign direct investment and encourage business operations.
True or False: The UK became more attractive for foreign retailers due to special economic zones.
True
What was one outcome of China’s Open Door Policy?
Increased foreign businesses setting up in China.
Fill in the blank: Trickle-down economics suggests that benefits will flow from the _______ to the poorest members of society.
richest
What economic sector is mentioned in relation to the city of Prato?
Textile companies
What was a key strategy for restoring the economy in Italy mentioned in the text?
Welcoming foreign direct investment
What is one example of a foreign fast-food chain that benefited from special economic zones?
Burger King
Fill in the blank: Until the 1980s, important assets like railways were owned by the _______.
state
What does the concept of ‘trickle-down economics’ imply in the context of neoliberalism?
Economic benefits will eventually reach the poorer segments of society from the wealthiest.
How many people were brought out of poverty due to the global shift?
680,000,000
