Neoliberalism argues that global free trade will enable all countries to prosper. From this perspective, what is needed in order for this to happen?
A) There must be an effort to enable third world governments to regulate wage and labor laws.
B) Countries must eliminate all governmental regulation and disavow minimum wage and other labor laws.
C) Wealthy nations must provide loan money with interest to the newly industrializing economies (NIEs) so they have capital to invest in their economies.
D) Countries must be persuaded to ignore political and military power.

Question

Quizplus · Accepted Answer

Neoliberalism argues that free trade must be unencumbered by government intervention such as regulation and minimum wage laws. This is based on the belief that free markets will naturally lead to the most efficient allocation of resources and increase economic growth. Therefore, option B, which suggests the elimination of all governmental regulation and labor laws, aligns with neoliberal ideology.

Neoliberalism Argues That Global Free Trade Will Enable All Countries