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2020, vol. 13, iss. 2, pp. 39-54
The rise of the doctrine of neoliberalism
Univeristy of Niš, Faculty of Economy

emailjovanovicmilann@gmail.com
Abstract
The text deals with the analysis of the doctrine of neoliberalism as the dominant political-economic direction of a modern capitalist society. The paper first points to the meaning of the term itself, taking into account the numerous specificities and contradictions that this direction brings with it. An analysis of the works of the most significant representatives of neoliberal thought attempts to determine the basic values and principles governing neoliberal theorists, and whether neoliberalism can be considered the successor to classical liberalism or if it is a completely new direction in the development of economic thought. It pointed to the historical circumstances that led to the seemingly forgotten policy of economic liberalism becoming the mainstay of economic science in the 1980s. Also, the policy of neo-liberalism has had its practical operationalization, first in Latin American countries, but above all in the United States and Great Britain, where it is also known as "reganomics" or "Thatcherism". The transition of post-socialist economies has emerged as a major issue at the end of the last century, with a considerable number of countries approaching this problem in line with the recommendations of international financial institutions and programs based on the principles of neoliberalism. In this regard, the paper analyzes the main values of the neoliberal trend, as well as the historical circumstances that led to neoliberalism becoming the dominant socio-economic doctrine.
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About

article language: Serbian
document type: Review Paper
DOI: 10.5937/etp2002039J
published in SCIndeks: 09/10/2020
Creative Commons License 4.0

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