Notes
1The neoliberal logic is fundamentally an economic logic that operates on the basis of the idea that opening up markets to competitions among global corporations accompanied by minimum interventions of the state would ensure the most efficient and effective political economic system. Therefore, proponents of the neoliberal logic argue that the public sectors around the globe ought to be privatized so that these sectors could operate most efficiently and effectively. The advent of the neoliberal logic on the global stage has been marked by the power and control of global organizations such as the international financial institutions (IFI)—the World Bank and International Monetary Fund (IMF), as well as the Global Agreement on Trade and Tariffs (GATT), which later evolved into the World Trade Organization (WTO), created with the goals of minimizing the barriers to global trade, and maximizing trading opportunities for transnational corporations (TNCs) across national borders.