Hugo Chavez was a vocal critic of US-supported neoliberalism. Which policy is neoliberalism typically associated with?

Hugo Chavez was a vocal critic of US-supported neoliberalism. Which policy is neoliberalism typically associated with?

• A. Free-market capitalism and reduced government intervention
• B. Central planning
• C. Autarky
• D. Communism

Answer: (A)

Neoliberalism centers on letting market forces drive economic decisions, with minimal government intrusion. The best choice reflects this: free-market capitalism with reduced government intervention. Neoliberal policies typically push privatization of state-owned enterprises, deregulation, lower barriers to trade and investment, and a smaller public sector. Choices built on central planning, autarky (economic self-sufficiency), or communism rely on extensive state control of the economy, which is the opposite of neoliberal emphasis. Hugo Chávez criticized the neoliberal approach promoted in the region, advocating instead for greater state involvement and social programs funded by oil revenues.

Neoliberalism centers on letting market forces drive economic decisions, with minimal government intrusion. The best choice reflects this: free-market capitalism with reduced government intervention. Neoliberal policies typically push privatization of state-owned enterprises, deregulation, lower barriers to trade and investment, and a smaller public sector.

Choices built on central planning, autarky (economic self-sufficiency), or communism rely on extensive state control of the economy, which is the opposite of neoliberal emphasis. Hugo Chávez criticized the neoliberal approach promoted in the region, advocating instead for greater state involvement and social programs funded by oil revenues.