Abstract
This chapter examines countries of both types those pursuing the market-based privatization model and those using strategies of public investment in education. The New Deal included many of the public investment approaches now used successfully in Finland, Canada, and Cuba, and detailed in the next section. The chapter focuses in part on the historical spread and application of neoliberalism, captured within the sector of education using Sahlberg's concept of the GERM. The birth of the GERM principles goes back to the first iteration of neoliberalism, proposed by the Austrian economist Fredriech Von Hayek. In the 1970s and 1980s, neoliberalism 2.0 had not yet solidified as an economic or political system. While Hayak's neoliberalism 1.0 focused on opening markets using liberalization policies, Friedman and other leaders in the 2.0 version emphasized privatization and deregulation as their main policy drivers for making decisions.
This chapter examines countries of both types those pursuing the market-based privatization model and those using strategies of public investment in education. The New Deal included many of the public investment approaches now used successfully in Finland, Canada, and Cuba, and detailed in the next section. The chapter focuses in part on the historical spread and application of neoliberalism, captured within the sector of education using Sahlberg's concept of the GERM. The birth of the GERM principles goes back to the first iteration of neoliberalism, proposed by the Austrian economist Fredriech Von Hayek. In the 1970s and 1980s, neoliberalism 2.0 had not yet solidified as an economic or political system. While Hayak's neoliberalism 1.0 focused on opening markets using liberalization policies, Friedman and other leaders in the 2.0 version emphasized privatization and deregulation as their main policy drivers for making decisions.