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Setler [38]
2 years ago
11

How are today's privatization programs, often associated with neoliberalism, an unsurprising result of adam smith's perspective

on economic growth?
Social Studies
1 answer:
sasho [114]2 years ago
5 0

Neoliberalism supports laissez-faire economics. In other words, an economy in which their private parties can realize transactions between them without government intervention. It also supports free-market capitalism which beliefs in private ownership of entities and the operation of them in order to make a profit.

Adam Smith is the economist behind this ideology. In his book: "The Wealth of nations" he strongly criticized mercantilism, government subsidies, and the licensing of monopolies.

<em>Privatization programs go in line with this current of thought and have dominated world politics in the western hemisphere during a great part of the 20th century until nowadays.</em>

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