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Essay DVA2603 Urban Development (DVA2603)
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DVA2603 Second Semester 2022 Assignment 2
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DVA2603: Assignment 2Semester 2: 2022
Discuss the nature of neoliberal market-oriented policies and their impact on
urban sustainability in the Global South.
Briefly describe the neoliberal policy framework that has been adopted by various
developing countries.
Neoliberalism, according to Kenton (2022), is a political and economic theory of
policy. It supports private industry and aims to give the private sector power over
economic variables instead of the government. Neoliberalism often promotes
privatization, free trade, deregulation, fiscal austerity, and a decrease in government
spending. According to Ntema et al. (2017:16), the policy framework is utilized to
promote economic growth by, among other things, concentrating a lot of resources,
investments, and people in large urban centres. As a result, legal and regulatory
frameworks created by governments in emerging nations serve to guide and regulate
economic growth, much like many other development indices. Neoliberalism and
libertarianism are occasionally mistaken for one another. Neoliberals, as opposed to
libertarians, typically support greater government involvement in the economy and
society. For instance, whereas libertarians frequently oppose progressive taxation in
favour of policies like a flat tax rate for all taxpayers, neoliberals frequently support it
(Investopedia.com).
According to Ntema et al. (2017:16), the inability of development indicators like
economic growth to trickle down to most urban dwellers and create a sustainable
environment is historical for most developing nations. The adoption of development
programs to restore the economy and infrastructure, particularly in emerging nations,
was required because of World War II's devastation of infrastructure and other vital
facilities. The promotion of the modernism notion, mostly from the Western nations,
was at the centre of the reconstruction effort immediately after World War II and
during the post-independence period. Most developing nations were forced to
undertake a paradigm shift because modernization was placed at the forefront of the
global development agenda. According to Haque (1999:206), as a result, in the early
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