The development of neoliberalism and its influence on undergraduate Economics curricula at selected South African higher education institutions

Abstract

This study explores neoliberalism and its influence on the undergraduate Economics curricula at selected South African Higher Education Institutions (HEIs). Neoliberalism is a theory embracing political economic practices that propose that human well-being can be advanced by liberating individuals, entrepreneurial freedom and skills within an institutional framework, characterised by strong private property rights, free markets and free trade. However, little is known about the influence of neoliberalism on undergraduate Economics programmes. Researchers either criticise neoliberalism or they reserve some components of neoliberalism and concentrate on those per se. Research has revealed that, students exposed to neoliberalism have a desire for life-long learning and are in need of the following skills: analytical, social, entrepreneurial, accountability and employability skills. To survive in this forever-changing environment graduates need to be equipped with flexible skills so that they will be employable and remain employed. Neoliberalism is still accepted as the only possible economic and social order that is available to us. This is in agreement with the opinions of seasoned rulers such as Margaret Thatcher who maintains there is no alternative to neoliberalism. In support neoliberalists argue that global capitalism is promoted, because welfare states are costly, overburdened, inefficient, and incapable of eliminating poverty and are overly oriented to cash entitlements rather than empowering citizens.The importance of curriculum research and the development of the neoliberal theory motivated the researcher to undertake this study. A qualitative multiple case study design was utilised, because it is useful when not much is known about the phenomenon and when in-depth study is needed. Triangulation of data collection tools was employed in this study for validity and reliability of data. The researcher made use of document analysis and structured interviews. The data collected reveal that neoliberalism is attached to politics and that it is a higher stage of capitalism. However, there is a strong sentiment that neoliberalism has good development policies, but these policies should not be implemented as if they are one-size-fits-all. The study findings also reveal that inequality should not be blamed on neoliberalism, as the shift now should be towards how to deal with inequality and also the effects of technology, as technology is replacing human labour at an alarming rate. Pertinent aspects like cultural, environmental and religious issues should be included in the tertiary curricula.