The Place Of Economıc Development In The Evolutıon Of Neolıberalısm Thought

Abstract

By removing the obstacles to the international trade of goods and services on the one hand and capital movements on the other, the neoliberal economic policies, which gradually accelerated in the 70s, took the first steps of the deregulation process that will be experienced in almost all areas of the economy in the following years. England, which completed its development process with the protectionism policies applied in the pre-Industrial Revolution period, started to support the liberal views, which are the basis of the free market economy understanding, as a result of the market requirement of the increasing production volume after the Industrial Revolution. As a result of low profit rates and low interest rates in growing economies, capital inflows to underdeveloped or developing countries significantly increased, and the yields obtained by developed economies also increased. In this study, the relationship between neoliberalism and economic development is discussed, criticism of neoliberal thought and the importance of the concept of development for economies are emphasized.