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The second was economic globalization, which accelerated thanks to free flows of finance and to a new, more ambitious type of trade agreement.
Financialization and globalization have become the most overt manifestations of neoliberalism in today’s world.
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In broad terms, it denotes a preference for markets over government, economic incentives over social or cultural norms, and private entrepreneurship over collective or community action.But economies can be derailed by macroeconomic instability, he goes on.
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