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Development in an Era of Neoliberal Globalization

The capitalist development process has been criticized by many scholars due to its questionable effects on countries. After the privileging of neoliberal principles in Western national economies from the 1970s onward, discussions on the legitimacy of capitalism have increasingly continued.

 

The capitalist development process has been criticized by many scholars due to its questionable effects on countries. After the privileging of neoliberal principles in Western national economies from the 1970s onward, discussions on the legitimacy of capitalism have increasingly continued. Undoubtedly, neoliberal policies have been questioned intensively in developing countries as well. The World Bank’s confession that there is no empirical support for the effectiveness of neoliberal policies on developing nations could explain why policymakers in developing countries are unsure about the integration of their countries to the extreme liberalization of the economy. 

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