ARE LIBERALISM AND NEO-LIBERALISM A CRISIS LOOP OR A POLITICAL SETUP

Mahmut Bozan

Abstract


The understanding of private ownership has been guarded as a relic and the independence of private ownership has been given a specific regard in the West, where is a core determinant of the world politics especially after the industrial evolutions. However, aristocracy which held both economic and political power on hand and monopolized ruling could only been balanced by Marxism after it gained strength.

Once, Adam Smith’s ‘invisible hand’ organized the market on behalf of liberalism when supply was surplus over demand, yet, as soon as the great depression occurred the hand became visible and economic intervention of states on free markets began. Plus, it is quite noteworthy that the new era coinciding the time when the USSR annihilated private ownership in its territory.

Disintegration of the USSR caused awakening of new right policies and thus ‘welfare state’ was criticized. For, the virgin areas, nationalized by communism, invited the invisible hand for the sake of international corporations. Because of the implementations of ‘new right’ policies some of the important national corporations purchased by the western international organizations.

Late in the digestion process, capitalism went through a crisis and the invisible hand became visible again in order to intervene the market. It is rather not realistic to understand the loop neither as a natural floating action nor as a natural cycle which could be adopted from İbn Haldun’s neurology of state.

Maybe the essence is on the fact that the Western Bloc, leading by the USA, power to determine policy on global level. So, countries like Turkey, which are quite passive in terms of world politics, should be aware of the waves and try to use it in their favours.

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