Neoliberalism is crude power, not economics: Tribute to Adam Smith, By Ahmed Aminu-Ramatu Yusuf
Neoliberalism is far deadlier in underdeveloped countries, where it is wreaking havoc like Ebola.
Production and the reproduction of wealth are, therefore, central to Smith’s doctrine on development. Despite this, he posited that the capitalists, if unchecked, will disrupt societal development. First, that their desperation to acquire monopoly position restraints free competition; reduces the employment of productive labour; negatively affects the quality of commodities; discourages commerce; kills initiative; and decreases state revenue.