, DVA3701 Assignment 3 Semester 1 2026 - DUE 17 April 2026
Neoliberalism and Globalisation: A Critical Analysis of Its Relationship
and Influence on Global Institutions
1. Introduction
Neoliberalism has emerged as one of the most influential ideological
frameworks shaping the contemporary global economy. Closely linked
to the process of globalisation, neoliberalism promotes free markets,
deregulation, privatisation, and reduced state intervention in economic
affairs. Since the late twentieth century, these ideas have significantly
influenced economic policies, international trade, and the functioning
of global institutions.
Globalisation, characterised by increasing interconnectedness between
countries through trade, finance, communication, and cultural
exchange, has often been driven by neoliberal principles. While
proponents argue that neoliberal globalisation fosters economic
growth, efficiency, and innovation, critics contend that it exacerbates
inequality, marginalises developing countries, and strengthens the
dominance of powerful global actors.
This essay critically discusses neoliberalism by examining its
relationship with globalisation and its influence on global institutions. It
begins by defining the key concepts of neoliberalism and globalisation,
followed by a historical overview of neoliberalism and its role in
shaping globalisation. The essay then explores how neoliberal ideas
have influenced global institutions, using practical examples. Drawing
on the works of scholars such as Harvey (2007), Kieh (2008), Krueger
(2002), and Bull and Bøås (2012), the essay argues that while
neoliberalism has contributed to global economic integration, it has
Neoliberalism and Globalisation: A Critical Analysis of Its Relationship
and Influence on Global Institutions
1. Introduction
Neoliberalism has emerged as one of the most influential ideological
frameworks shaping the contemporary global economy. Closely linked
to the process of globalisation, neoliberalism promotes free markets,
deregulation, privatisation, and reduced state intervention in economic
affairs. Since the late twentieth century, these ideas have significantly
influenced economic policies, international trade, and the functioning
of global institutions.
Globalisation, characterised by increasing interconnectedness between
countries through trade, finance, communication, and cultural
exchange, has often been driven by neoliberal principles. While
proponents argue that neoliberal globalisation fosters economic
growth, efficiency, and innovation, critics contend that it exacerbates
inequality, marginalises developing countries, and strengthens the
dominance of powerful global actors.
This essay critically discusses neoliberalism by examining its
relationship with globalisation and its influence on global institutions. It
begins by defining the key concepts of neoliberalism and globalisation,
followed by a historical overview of neoliberalism and its role in
shaping globalisation. The essay then explores how neoliberal ideas
have influenced global institutions, using practical examples. Drawing
on the works of scholars such as Harvey (2007), Kieh (2008), Krueger
(2002), and Bull and Bøås (2012), the essay argues that while
neoliberalism has contributed to global economic integration, it has
