How the Opponents of Neo-Liberalism Criticize the Unregulated, Free Markets Promoted By Neoliberals - Essay Example

 In this case, private businesses and industries are deemed commendable since they are very efficient, and are thus, the best way of solving problems (Steger and Roy, 13).

According to Philoguy, this is because, with private businesses, wealth trickles downwards from the rich capital owners to the middle-class and low-income earners, since businesses and industries create jobs. These jobs, together with the revenue they churn, help pump money into the economy and thereby leading to more jobs. Because of the above standpoints, the government should let markets be controlled by market forces, so that there is free international trade (Philoguy, 1).

Opponents of neo-liberalism criticize it for its unregulated free markets as promoted by neoliberals by arguing that free markets deny governments of sources of revenue since governments are not supposed to exact tariffs on goods and services that are being traded. Again, the same argument that leaving markets and industries in the hands of market forces automatically means, making a dereliction on price controls and consumer protection. This, therefore, paves way for the exploitation of the masses by entrepreneurs and rich capital owners. Others see unregulated free markets as unfeasible because it is based on assumptions that markets are equal yet they are not (Luxton and Bradley, 66)