Globalizing problems of the liberal economic view scientifically based on neoclassic economic thought

The liberal economic view scientifically based on the Neoclassic Economic Theory has been highly criticized by every section of societies because of economic and environmental problems it causes. In this new economic system, income inequality among countries or individuals has become more apparent. It is a common opinion that income differences between the poorest and the richest countries have gradually turned out to be larger and larger. Meanwhile, the damages on environment by the existing system threaten the future of humankind as well. While the current economic system is unable to sufficiently satisfy human needs and wants, the frequent crises encountered during globalization process have unfavorably affected large populations. Economic policies focusing on continuous growth along with the effect of global competition have made economic and environmental problems a global issue due to inefficient and uncontrolled use of scarce resources that are important to individuals. In this study, the theoretical framework supporting the opinions and judgments previously mentioned has been given, also presenting the evolution of country economies while some robust scientific evidence has been presented in light of the findings obtained as a result of several empirical research and analyses. The findings suggest the negative impact of developed countries on relatively less developed countries and also strengthen the judgment that economic growth policies fuel existing environmental problematic matters in spite of the precautions that were brought in to overcome those problems. Keywords: Neoclasic Economics, Liberalism, Globalization, Environment Problems