Republic of the Philippines

CAMARINES SUR POLYTECHNIC COLLEGES

Nabua, Camarines Sur

COLLEGE OF ENGINEERING AND ARCHITECTURE

Bachelor of Science in Electronics Engineering

Name: Ric Marvin G. Dimabayao Course,Yr. & Sec.: BSECE-3C

Instructor: Mr. Eugene N. Eclar,JD Date: September 17, 2023

The Contemporary World

1. Differentiate liberalism from neoliberalism.
Liberalism is a political and economic philosophy that emphasizes individual liberty and
limited government intervention. Neoliberalism is a more recent form of liberalism that
emphasizes free markets and deregulation. One of the key differences between liberalism
and neoliberalism is their view of the role of government. Liberals believe that the government
has a role to play in promoting social welfare and regulating the economy. Neoliberals, on
the other hand, believe that the government should play a minimal role in the economy and
that free markets are the best way to promote economic growth and prosperity. Another
difference between liberalism and neoliberalism is their view of inequality. Liberals believe
that the government should take steps to reduce inequality. Neoliberals, on the other hand,
believe that inequality is a natural part of a free-market economy and that it is necessary to
promote economic growth.

2. Explain the relationship of neoliberalism to Globalization. Cite four

historical/current events to support the relationship.
Neoliberalism and globalization are closely related. Neoliberal policies such as free trade
and deregulation have helped to promote globalization. And globalization has created new
opportunities for businesses to operate and invest around the world.

The four historical/current events that support the relationship between neoliberalism and
globalization are:

• The creation of the World Trade Organization (WTO) in 1995: The WTO is an
international organization that promotes free trade and reduces tariffs and other trade
barriers. It has played a major role in promoting neoliberal globalization.
• The North American Free Trade Agreement (NAFTA): NAFTA is a trade agreement
between the United States, Canada, and Mexico. It was created in 1993 and has led
to increased trade and investment between the three countries.
• The rise of China: China has become a major player in the global economy in recent
decades. It has adopted neoliberal policies such as free trade and deregulation, which
has helped to boost its economic growth.
• The global financial crisis of 2008: The global financial crisis was caused by a
number of factors, including neoliberal policies such as deregulation and
financialization. It led to a global recession and showed the limits of neoliberal
globalization.

3. Explain the contribution of the world-wide web to global integration. What

specific innovation spurred such integration?
The world-wide web has played a major role in global integration by making it easier for
businesses and individuals to communicate and trade across borders. It has also led to the
rise of new industries and businesses, such as e-commerce and social media. The specific
innovation that spurred global integration was the development of the hypertext transfer
protocol (HTTP). HTTP is the protocol that allows web browsers to communicate with web
servers. It was developed in the early 1990s and has become the standard protocol for the
world-wide web. The world-wide web has made it possible for businesses to reach a global
market with their products and services. It has also made it possible for individuals to connect
with people from all over the world. As a result, the world-wide web has made the world a
more integrated and interconnected place.