Neoliberal Globalization and Illiberal Securitization

Other kinds of globalization include the alternative global movement that entailed networks of movements and people which originated in various countries including Jamaica and Liberia (Gautney 39). Evidently, there has been protest against globalization; however, the real reason for protest has not been globalization per se but neoliberal globalization and IMF (Gautney 39). Neoliberal globalization has been termed to be a package that contains informatization, securitization, flexibilization and various changes in regionalization and reconfiguration of the countries and states; the factors that have led to neoliberal globalization (Pieterse 348). The neoliberal globalization has been termed to be influenced by informatization a process that entails application of the information technology to influence the rate at which free trade market is spreading in the states and beyond (Davis 443).

Information technology has been used in the trading process where the system of trade has dynamically changed from physical mode of trade to electronic means of trade (Davis 443). The first phase which he termed to be the proto-neoliberalism was effected in between 1940- 1970s. In this stage, the basic economic ideas were laid and effected. The second stage which Adam termed as roll-back neoliberalism was the phase when the economic ideas converging by neoliberalism were effected by various government in 1980s (Davis 438). The governments that effected the economic ideas included the United Kingdom and United States. The third step termed as roll-out neoliberalism in 1990 became dominant in multilateral facilities. American South is the material matrix of the real or the exact neoliberalism.

Just as in the case of soviet society were the society is not analyzed just by studying the Marx texts but also through evaluation of the socialism existing in reality, the theoretical standing of the neoliberalism should not be sufficient to examine the material political economy of neoliberal globalization (Bernstein 385). While considering neoliberalism, the material political economy of neoliberal globalization should be the major areas to explain neoliberalism. Some omission that have been made in past studies but essential in explain neoliberal globalization is setting of the cold war and glosses over the attractions of the cold war and neoliberal globalization (Gautney 43). What is more, the Washington consensus in 1980s that was characterized by economic prescription for under developed economies inspired the cold war ideology claim.

However, raising the interest rates prompted the IMF into imposing the financial disciplines a move that lead to structural reforms (Gautney 50). Concurrently, the corporations in the United States sought to maintain the assets in the organizations by using the assets as the security (Pieterse 349). The corporations in the United States, therefore, retain profitability of trade through enacting low wages. Hence, during this period the economy of the United States was based on low wages, high labor intensity as well as high level of exploitation during production. Currently, the level of agriculture in the south has been modernized. Additionally, securitization has been linked to the insurance sector. In the United States, the government is burdened with supporting the insurance sector a move that would otherwise cause the insurance sector to crumble (Pieterse 355).