A Brief History Of Neoliberalism

Harvey applies a Marxist geographic analysis to neoliberal economic policies to determine what their effects have been on the global economy. This analysis focuses on how neoliberalism has impacted wealth distribution and the well-being of ordinary people. He notes first that neoliberal policies fail to adhere to neoliberal theory and do not achieve the stated goals of neoliberalism. He then concludes that the true goal of neoliberal policies is The Creation and Consolidation of Elite Class Power.

Neoliberal theory states that policies that limit the role of the state, expand the reach of free markets, and facilitate trade between countries are “both necessary and sufficient for the creation of wealth and therefore the improved well-being of the population at large” (7). In analyzing a variety of metrics, including poverty rates and indicators of well-being, Harvey concludes that “almost all global indicators on health levels, wealth expectancy, infant mortality, and the like show losses rather than gains in well-being since the 1960s” (156). He grants that global poverty has fallen somewhat, but most of the gains were made in India and China, countries that have not broadly instituted neoliberal policies. The largest impact neoliberal policies have had is the control of