Neoliberalism And The Triumpant Juggernaut Called Globalisation

Abstract

This essay presents the neoliberal ideology as the force propelling the triumphalist juggernaut known as globalisation. it gives a brief background of the ideology; describes the role of the International Monetary Fund (IMF) and the World Bank in implementing the policies of the neoliberal ideology; and examines the asymmetrical global trading system and the duplicity of the World Trade Organisation (WTO). The essay concludes that radical reforms are absolutely necessary in order for poor countries to share in the benefits of the current global capitalism, going by the name globalisation, and guided by the ideology of neoliberalism.