Neo-Liberal Pitfalls and the COVID-19 Pandemic Challenges in Bangladesh

Abstract

Bangladesh has been following the neo-liberal economic model since the early 1980s. Manifestly, consecutive state authorities have failed to reduce the inequalities between different social groups in the last forty years. This article examines how the reform policies resulting from the liberalisation and privatisation of Bangladesh’s economy have created avenues for a handful of business elites to surge and control its economic and political decision-making mechanisms. It also illustrates the impacts of neo-liberal reforms on the socio-economy and health-care sector of the country. Finally, this paper argues that the consequences of pro-market reforms have played a significant role in weakening the ability of the state to respond appropriately to the ongoing COVID-19 pandemic in Bangladesh as the government is compelled to maintain its nexus with the business elites rather than focus on the well-being of all its citizens.