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Reading Summary - Book Report/Review Example

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This process involved; privatization of government owned firms, deregulation, open markets, and propelling the role of private sector in economic…
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Neo-liberalization European liberal intellectuals emphasized on the importance of governments to practice decentralization of resources in the 1930s. This process involved; privatization of government owned firms, deregulation, open markets, and propelling the role of private sector in economic and geographical developments. The intellectuals had foreseen the effects of employing this economic tool during the industrialization era. Presumptions are that the intellectuals observed that the economy would grow evenly along the parameters of the country that would assimilate the tool. The following script derives a detailed script of the neo-liberalization framework and the history of imperialism (Harvey 4).
Many theorists advocated for neo-liberalization of wealth and the freedom of property ownership, as these would stimulate economic growth accordingly. The United States of America emphasizes on liberty among all countries worldwide and does not administer for regimes that seldom propel economies (Harvey 24). The country toppled Iraqi leader for his stringent policies on businesses and wealth distribution. The U.S.A advocates for neo liberalization as a tool that will stimulate equal economic and geographical developments throughout the world. The Chinese and Americans are among the countries that initially practiced the effectiveness of the theory. Their economies grew tremendously forecasting increased employment rates, income levels, investment rates, and gross national product. They stated that, through deregulation, the businesses would grow considerably higher resulting from income maximization among entrepreneurs. The aspect would see economies ease constraints imposed on businesses (Harvey 39). Taxes, tariffs, and duties are most the commonly practiced constraints that when varied to the extreme would eventually demoralize the businessperson to quit the operations. They argued that, businesses would set prices in accordance to the imposed constraints and the result is that, the consumer would incur all the expenses (Harvey 40).
The New Imperialism
In his The New Imperialism book, Harvey, David shows how U.S.A. imperialism approach has led to economic growth. America established the importance of imperialism after the Second World War. Dollar became the exchange currency of foreign markets and the Americans established its essence in that it would propel economic and geographical developments, both locally and overseas interests (Harvey 100). This served as a form of capitalizing wealth in the country and the world such that most economies would indirectly assist in the development of U.S.A unknowingly.
The U.S.A policy on imperialism extended to the European and Asian nations as the country strategized accumulation of oil reserves. Crude has always sold in terms of dollars whether in Asia or the Middle East. This depicts the art of imperialism in practice as the country manipulates dollar variations to suit their needs. For example, during inflation, America devaluates the currency and the pressure extends to all foreign markets involved in exchange of the dollar. Imperialism is an inclination to superiority and accumulation of wealth for the benefit of one nation. On the other hand, countries that fall prey under imperialism cycle will suffer crisis that should affect a specific nation (Harvey 115). Therefore, the U.S.A extends all its economic retrogressive factors to the other nations, thus; it is under rare circumstances that the country suffers unemployment, reduced gross national and domestic products, and per capita income.
Countries further deviate on perceptions on which theory will address economically related problems adequately. China adheres to the capitalist approach that encourages every economic stakeholder to contribute to development. Business meet the imposed duties, and prices remain fixed, such that, the taxes do not extend to the consumer eventually leading to inflation. During inflationary threats, the government reduces the amount of money in supply to extensively, thus, the economic spending for the consumer reflects on the prevailing fixed prices and not the perceived inflation rates (Harvey 120).
Works cited
Harvey, David. A Brief History of Neoliberalism. London: Oxford University Press, 2005. Print.
Harvey, David. The New Imperialism. London: Oxford University Press, 2003. Print. Read More
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