Analysis: Did the world roll back the state too much?

Ever since the advent of the neo-liberal agenda in the early 1980s, privatization has been presented as a panacea for all economic problems. Proponents have consistently talked about the benefits of reducing government size and personnel to ease the burden on national budgets and improve the overall economy. Neo-liberals were convinced by the free market efficiency and gave no credit to other points of view. Neither were they overly concerned about such issues as equality, public good, the importance of the state in maintaining social cohesion, or national security.