A Political Economy Perspective on Education Privatization and Global Neoliberalism

Neoliberalism has emphasized that the role of market mechanisms can play in reconfiguring the public sector. In education, neoliberalists argue that the consumer choice and school competition can lead to more effective and efficient public education systems. This paper examines the increasing inequality in and between education, economic and social systems within the policy context of neo-liberal capitalism. Neo-liberal capitalism is a global phenomenon-- the restructuring of schooling and education has taken place internationally under pressure from international capitalist organizations and compliant governments. The effects of neo-liberal policies in increasing inequalities globally and nationally, in diminishing democratic accountability and in stifling critical thought is presented along with a critique of the theory of neoliberalism in education policy. Keywords: Marxism, Socialism, Capitalism, Neo-Liberalism, Globalisation, Education, Business, Inequality