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>
Africa has a population of roughly 1.02 billion[3] and a surface of 30,221,532 km². Industrialization started marginally in the early 20th century in the colonies of the European nations, namely Portugal, Belgium, Spain, the Netherlands, Germany, France, Italy, and the United Kingdom. The continent's various wars for independence brought on the violent and disruptive division of Africa. Africa, being a major source of raw materials, saw the colonial powers vie for influence among the newly independent nations, with former colonial powers establishing special relations with their former colonies, often by offering economic aid and alliances for access to the vast resources of their former territories.
Today, the presence of diamonds, gold, silver, uranium, cobalt and large oil reserves have brought Africa to the forefront of industrial development, with many of the world's economic powers building relations with Africa's resource rich nations.
As of 2008, the entire GDP of Africa is about $1.2 trillion.<span>[2]</span>
Answer:
C. President Thomas Jefferson's administration.
Explanation:
The Federalist Party, founded by Alexander Hamilton, and the Democratic Party, founded by Thomas Jefferson and James Madison before the election of 1796.
