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  • Essay / Neoliberalism Essay - 1396

    Structural adjustment programs implemented through the IMF are becoming quite troublesome because they impact public services that help those who need them most (McMichael). Austerity programs such as SAPs exacerbate poverty in countries most affected by the debt regime, such as Mexico. As a result of this poverty, malnutrition increased because staple foods like tortilla, beans, and dehydrated milk were eliminated (McMichael). Although this may seem trivial, it is actually crucial because it demonstrates how exploiting other countries can negatively impact people's lifestyles, but also take the threats they have more seriously. had to endure to survive. Import substitution and industrialization (ISI) was a trade policy most commonly implemented by Latin American governments. The goal of the ISI is to protect all local industries through subsidies and quotas so that other large industries do not take them over (McMichael). This is important because if this policy was not implemented, poor countries in Latin America would still have the problem of not being able to grow economically. Keynesianist policies were imported to the Global South as countries adopted the ISI model for their benefit so that others