Neoliberalism

Neoliberal ideology has contributed to the rise in development and reduction of poverty in much of the world since World War II. The main bodies responsible for neoliberalism, such as the United Nations and later the World Trade Organization have encouraged trade, economic openness and democracy. Where these things have not been accepted -- where neoliberalism has been rejected, living standards tend to be lower, and where neoliberalism has been embraced wholeheartedly the living standards are as high as have been enjoyed by any humans in history.

De Soto describes some of the development that has occurred in Peru, which is a moderately neoliberal state. He argues that individual effort can come before collective effort, a hallmark of neoliberalism and that this has resulted higher living standards for many of the country's citizens. De Soto also notes that these changes have also been at the social level. The people...
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