THE ECONOMY OF THE WESTERN BALKANS IN NEOLIBERAL GLOBALIZATION
Authors: Barašin Ostoja 
Published: August 2024

The goal of research in this paper is the world we live in, i.e. the world of neoliberal globalization, a world of dynamic, unpredictable and uncertain changes that affect all peoples and their societies, their economies, politics and cultures. Simultaneously, it is also a world of de-sovereignization of states and de-nationalization of societies, especially those in transition. The method of analysis and synthesis, as well as the historical-comparative method were used in this paper. Comprehensive research and analysis of collected data unequivocally confirms that there are numerous globalization factors that lead to the de-sovereignization of modern states and the denationalization of their societies, and some of the more significant ones will be specifically discussed in this paper. From the beginning of the 1970s until today, a noticeable global shift towards neoliberalism has been emphasized in political and economic processes, but also in opinion. Deregulation, privatization and withdrawal of the state from many spheres of social support represent a general characteristic of social reality. The largest number of countries created by the collapse of the Soviet Union and the Warsaw Pact, the collapse of the SFRY, as well as a number of old social democracies, i.e. welfare states such as Sweden and New Zealand, partly voluntarily, and mostly under pressure, accepted some versions of neoliberal theory and adapted them with their policies and practices. Neoliberalism thus became the dominant ideology that pervades the public policy of many governments in developed and developing countries. This ideology is based on the postulate that the reduction of state intervention in economic and social activities and the deregulation of labor and financial markets, as well as trade and investment, have unleashed the enormous potential of capitalism to create an era of unprecedented social welfare. Looking at the entirety of the neoliberal experience, it can be concluded that the application of neoliberal policies has led to a significant increase in social inequalities both in the countries where such policies are applied and among countries in the rest of the world. With the ideology of neoliberalism, which does not recognize society and sociability and which leaves the future to the whims of the market and unbridled economic growth, the chances for the future are reduced to a minimum. The history of human development confirms that we did not survive as isolated and selfish individuals grouped into abstract groups, but on the contrary as members of culturally diverse communities connected by common values, beliefs and a sense of belonging. An individual becomes truly human only through socialization, and this never happens only at the family level. The idea that there is no society is not sustainable and is not the basis for a sound economic and public policy. The previous analysis showed that neoliberalism, as an ideology and as an economic system, is in a deep crisis with an uncertain future. This raises the dilemma as to what the future of the economy of the Western Balkans will be, as it is ideologically and structurally based on the values ​​of illiberalism and its global institutions.