As described by UC Berkeley economic historian and defender of neoliberalism Professor Brad
DeLong, this "ism" has two main tenets:
"The first is that close economic contact between the industrial core of the capitalist world economy and the developing
periphery is the best way to accelerate the transfer of technology which is the
sine qua non for making poor economies rich (hence all barriers to international trade should be eliminated as fast as possible). The second is that governments in general lack the capacity to run large industrial and commercial enterprises. Hence, except for core missions of income distribution, public-good infrastructure, administration of justice, and a few others, governments should shrink and
privatize."