- May 17, 2020
AsPhillips (2007), advances the neoliberal argument, he reiterates theunderlying assumptions that support the argument. While doing so, theauthor questions whether the neoliberal arguments that guide thecurrent political economy is valid. He notes in his argument that:
Theneoliberal argument is based on a number of fundamental assumptionsthat are, at best, questionable. The first is that the market is anefficient and democratic institution, even though democracy in thisinstance is defined as “one dollar, one vote,” not “one person,one vote (Phillips, 2007).”
Theauthor questions why individuals are denied the democratic right toapply the legislation to change the rules of the game so that economycan benefit people rather than do the other way round. I picked thequote as it largely explains the tenets in which welfare ofindividuals stands in a democratic society. The author has notexpressed his view quite clearly in regards to “one dollar, onevote.” One gets confused about the explanation of the assumption ofthe quote as noted. The author fails to explain how the influence ofothers is greater than others without considering the system that isapplied. One of the critical measures is money. The main reason whypeople read this work is to understand the disparity that arisesamong the electorate even when they cast their one vote. It helps tounderstand the reason why a man who has more or even contributed moreto a candidate is likely to be listened to more as compared to onewithout anything or one that just gives a $1. Reading the source isvery critical as it has the works of various authors on the topic ofstudy. More insights are given in regards to capitalism and politics.
Phillips,P. (2007). InsideCapitalism An Introduction to Political Economy.Aakar Books.