Question

1. How has neoliberalism and globalization affected your life or that of your family's? Give at least one example of a benefit and one of a cost.

Answer 1

Before explaining you the affect of globalization and neoliberalism, I would like to introduce you about what does these term mean -

Globalization -

Globalization is actually a process by which people and goods moves easily across the borders.

  people are purchasing so many things every day ,people eat in restaurants and all... This is all because of globalization.

There are both advantages and disadvantages regarding globalization .lets discuss one by one -

Advantages -

1.Great ideological diversification -invention of edison, iPhone, are all possible today because of it.

2.language exchange -English is a global language .australians can understand Indians and Indians and understand Chinese.

Disadvantages of globalization

1.It can ruin the environment by moving from one area to another.

2.leads to the extinction of minority languages. As English is spoken more rather than minority language.

Examples of globalization

1.travel

2.transport etc

Now let's more to the next concept that is Neoliberalism

Neoliberalism is an apro-capitalist economic theory. which believes that the free market in the capitalist economies are the best.

One drawback of neoliberalism is that market forces encourage competitions -when people see high demand for a product they encourage to produce and sell that product and better product they can make and cheaper they sell it for more profit to make.

Examples of neolibralism-

1.Chile under Augusto pinochet

2.Great Britain under Margaret Thatcher.