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). The United States enacted neoliberal policies and pushed for neoliberal policies to be adopted in developing countries around the world such as Mexico. Unfortunately, neoliberal policies and the resulting globalization that followed have exacerbated poverty and income inequality in Mexico and the United States. The displacement of workers and increased poverty in Mexico caused a new wave of migration from Mexico to the United States and created a push for austerity measures to reduce funding for social welfare programs in the United States and limit immigrant access to social services. These measures have negatively impacted Mexican immigrants in the United States.
ASJC Scopus subject areas
- Social Sciences(all)