UNIVERSITY OF SOUTH AFRICA (UNISA)
College of Human Sciences
⋄
DVA3701: ASSIGNMENT 3
Semester 1, 2026
⋄
Module Code: DVA3701
Module Name: Development Theory
Assignment No.: Assignment 3
Due Date: 17 April 2026
Semester: Semester 1, 2026
Submitted in partial fulfilment of the requirements for DVA3701: Development Theory
at the University of South Africa.
, UNISA | DVA3701 Neoliberalism, Globalisation and Global Institutions
Introduction
Few ideological frameworks have reshaped the modern world as thoroughly as neoliberalism.
Since the 1970s, its core prescriptions, namely the supremacy of the free market, the retreat
of the state, the privatisation of public assets, and the deregulation of finance, have pene-
trated national economic policies, international trade agreements, and the mandates of the
most powerful institutions in global governance. To understand development theory as it has
been practised over the past four decades, one cannot avoid a reckoning with neoliberalism.
This essay critically discusses neoliberalism in two interconnected dimensions: first, its re-
lationship to and influence on globalisation; and second, the influence of its ideas on global
institutions such as the International Monetary Fund (IMF), the World Bank, and the World
Trade Organisation (WTO). It draws on Harvey (2007), Kieh (2008), Krueger (2002), and Bull
and Bøås (2012) as primary sources, alongside supporting academic literature.
Page 1 of 14
College of Human Sciences
⋄
DVA3701: ASSIGNMENT 3
Semester 1, 2026
⋄
Module Code: DVA3701
Module Name: Development Theory
Assignment No.: Assignment 3
Due Date: 17 April 2026
Semester: Semester 1, 2026
Submitted in partial fulfilment of the requirements for DVA3701: Development Theory
at the University of South Africa.
, UNISA | DVA3701 Neoliberalism, Globalisation and Global Institutions
Introduction
Few ideological frameworks have reshaped the modern world as thoroughly as neoliberalism.
Since the 1970s, its core prescriptions, namely the supremacy of the free market, the retreat
of the state, the privatisation of public assets, and the deregulation of finance, have pene-
trated national economic policies, international trade agreements, and the mandates of the
most powerful institutions in global governance. To understand development theory as it has
been practised over the past four decades, one cannot avoid a reckoning with neoliberalism.
This essay critically discusses neoliberalism in two interconnected dimensions: first, its re-
lationship to and influence on globalisation; and second, the influence of its ideas on global
institutions such as the International Monetary Fund (IMF), the World Bank, and the World
Trade Organisation (WTO). It draws on Harvey (2007), Kieh (2008), Krueger (2002), and Bull
and Bøås (2012) as primary sources, alongside supporting academic literature.
Page 1 of 14
