Neo-Liberalism

Sociology | Mercantile Law | International Law | International Relations

Neo-liberalism emerged to be the modern strand of liberalism in the realm of theoretical International Relations. This approach just like its previous aboriginal strand believes in rationality of human nature and international cooperation. But unlike its aboriginal form, neo-liberalism is moderate and less extreme.

Origin of Neo-Liberalism as Theoretical Approach in IR
Origin of neo-liberalism in International Relations was both the result of changing world circumstances and need of the evolving discipline of International Relations. Even more than these two points, neo-liberalism originated to revive the dead approach of liberalism.

It was 1960s which is seen as the decade when neo-liberalism took birth. Its origin was catalyzed by the declining oomph of realism.

Since after the collapse of liberalism as first hand approach of international relations, realism was holding firm grip on the world order. Neo-Liberalism defied the system of state centrism and intense competition bringing forth cooperation as the best option in economic and political terms.

Various Aspects of Neo – Liberalism
Neo-Liberalism can be understood in various aspects it brought. These are explained below;

A. Neo Liberal Internationalism
The core assumption of this aspect of neo-liberalism is that the liberal democratic states of the world don’t war against each other. This ensures peace and prosperity at global level.

B. Neo-Liberal Institutionalism
This strand of neo-liberal institutionalism though believes in cooperation but in one aspect it shares commonality with the Realism. It concurs to the point of realism that states are the principal actors and institutions in the international relations.

But instead of seeing this thing in terms of competition in anarchic world, neo-liberal institutionalism focuses on ensuring prospects of cooperation.

Neo-Liberalism and Idealism
Neo-Liberalism gives a different scheme to regulate the international affairs as compared to idealism. The theory of idealism that took birth after the First World War was taken as utopian way to deal with international relations. It was impracticable.

Neo-Liberalism does not represent utopian and impracticable schemes. It accepts the primary role of states in world affairs but suggests them to work with cooperation.

Criticism on Neo-Liberalism
Realists attack neo-liberalism again with the traditional mantra of not being a realistic approach in understanding the global affairs. For the proponents of Feminism this is again among the theories that carry nothing remarkable to ensure women empowerment. Marxists consider it as a tool of the Western powers being exploited to deal both the developing and the developed states under the same but unfair mechanisms.