THE RISE OF THE DOCTRINE OF NEOLIBERALISM

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.