|is this a good summary of the neoliberal view? I wrote it, but it
would be interesting to see if there is actually a neoliberal
manifesto that's been written by neoliberals.
A Neoliberal Manifesto:
1. Product markets should be deregulated as much as possible, so that
the prices can adjust to more accurately and efficiently reflect costs
and consumer demand.
2. Instead of government regulation of monopolies and pollution,
artificial markets should be created in order to attain the highest
degree of efficiency.
3. Labor markets should be made for flexible wherever possible,
abolishing minimum wage rules, government programs that subsidize
leisure time, and unnecessary health and safety regulations.
4. International free trade is needed to allow the benefits of
specialization to be realized.
5. Free mobility of capital funds and fixed investment also encourages
a rise in world productivity and efficiency.
6. Government programs should be sold to private enterprise as much as
possible, since privatization encourages greater efficiency.
7. The irresponsible and thus inefficient behavior of governments
should kept in check by requiring that they balance their budget from
year to year.
Left out of this list is the view that intellectual property rights
should be tightened and extended. Economist Jagdish Bhagwati and
others see this as creating or deepening monopoly power rather than
representing a free market reform. Also left out is opening borders to
free in- and out-migration, perhaps because it's too controversial.