Maxine Molyneux (2008) discussing neoliberal trends in feminist social policy in Latin America argues that the term ‘neoliberalism’ has become so profuse it had lost a sense of any specific meaning. In their essay Introduction: Reclaiming Feminism: Gender and Neoliberalism, Cornwall, Gideon and Wilson (2008) have described neoliberalism as a ‘set of economic policy prescriptions associated with the Washington Consensus’.
Originally, neoliberalism came to prominence under the economic policies of Margaret Thatcher and Ronald Reagan in the 1970s and promoted the theory that privatisation and deregulation of an economy were the best means of safeguarding the freedom of the individual to consume and compete without the intrusion of the state. Economist David Harvey (2006) argues that nations of the global North stumbled towards neoliberalism in response to the 1970s recession, where ‘the uneasy compact between capital and labour brokered by an interventionist state’ broke down. Continue reading