Outsourcing, displacement, labor as export, informalization, and global recolonization are among the ideas discussed by Philip McMicheal. Briefly explain them, along with how they relate to neoliberal globalization.
Dr. Philip McMicheal is a professor of developmental sociology at Cornell University. His book Development and Social Change, is a critical of the manner in which neoliberal development is changing the world in radically new ways.
Neoliberal globalization is the process why which global capital is slowly eroding traditional markets and controls to establish a new order of production and consumption. The fall of the communism has slowly eroded the state sponsored safety nets that protected traditional means of production and the livelihood of the masses.
Put simply neoliberalism refers to an opening up of the market and its administration to private enterprise. This means that that select private players who have the capital can pursue single minded financial expansion. Fears are that such an expansion will promote financial growth at the expense of common man.
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