Globalization, Neoliberalism, and the State of Underdevelopment in the New Periphery

This study provides an analytical sketch of the context, culture, structures, processes, and consequences of neoliberalism. It examines the subject from two fundamental and complementary perspectives. The first involves an appraisal of the history and evolution of neoliberalism as a socio-political phenomenon from its origins to the present. The second perspective provides a systematic analysis of the theory and practice of neoliberalism, its circumstances and effects, with special reference to the issue of globalization and its impact upon the weaker sectors of society. The authors conclude that neoliberal globalization has contributed to the emergence of a new centre and periphery, no longer based on distinct geographical regions, but on different political and economic strata in both the North and South.