When it comes to the methods and schools of thought that are used to help to run a country in the best way possible, there are always new and innovative ideas that help to improve the processes and operations. Just like a business, the processes and operations of a government must always be in preparation for the changes in the economy and the values of the people in the future. The importance of issues and the way that the county is run is always dependent upon the people and how the world is evolving socially and economically. In the 1930’s, there were a significant amount of failures for the government that was making it challenging for the people to stay united under the governing powers. This is what spurred the developments of neoliberalism.
In the early 1930’s neoliberalism was considered to be an alternative to more conventional and traditional ways of governing the processes of trade and the open market. With neoliberalism, European theorists believed the government would be able to provide the people with the solutions they needed to fix or repair the economy by implementing a practice that gave the people more responsibility along with freedom in regards to trade and the market. It has been proven over time that once an economy is experiencing a significant amount of failures, it is extremely challenging to repair it. Neoliberalism was heavily turned down in the 60’s due to economic and political changes. However, it was not the last that the world would ever see of it. In the 1980’s neoliberalism made a huge come back and proved to make some great impacts on the economy of Chile. While the idea and beliefs surrounding neoliberalism had been overwhelmingly positive in the 30’s, when the practices made a comeback in the 80’s the use of this practice had become negative. Now the idea of free trade has a bad connotation, and was not seen as a solution to anything.
The implementation of neoliberalism has had a largely stagnant impact on the world over time. Although the concept behind this practice of politics and governing of the economy has the potential to make perfect sense, it is widely misused and misrepresented. Through out history this term has grown to mirror a reduction in the control of the government; however, the positive way that it is supposed to be viewed is as an increase of the responsibility and freedom of the people. Maybe some day this school of though in regards to politics and the economy will work on a larger scale; however, it just has yet to succeed fully.