Neoliberalism has links to the New Right and believes that the state should have a minimal role in providing and managing public services like education, relying instead on a system akin to how businesses operate in a free market.
Globalisation
Globalisation, as it refers to education, is the formation of educational policy within a global context, using evidence drawn from comparisons with other countries (e.g. PISA).
This evidence had influenced changes to the curriculum, including the introduction of the EBacc which enables students to compete more effectively in a global market.
Privatisation
Privatisation refers to the drive to make schools and colleges operate more like independent private businesses, such as managing their own affairs and competing with other schools through systems like league tables.
Marketisation
Marketisation is necessary if schools are to be run like businesses and might include publicity, advertising literature and open days in order to tempt parents (the consumer) to send their children to the school.
Ball and Youdell distinguish between:
Privatisation in education (endogenous privatisation).
Privatisation of education (exogenous privatisation).
Privatisation in education
Privatisation in education involves schools and colleges operating in similar ways to private independent businesses, including managing their own affairs, competing with other schools for pupils, and using target setting and league tables to measure progress.
Evaluating privatisation: positives
Privatisation creates more business-like and efficient schools, leading to raised standards and an increase in the school's popularity amongst a potential customer base.
Privatisation provides parents with more choices.
Evaluating privatisation: negatives
Money might be drained from education and into private profit.
Privatisation might very well lead to more inequalities in education because schools will want to discourage those children from poorer and disadvantaged families who might threaten the schools league position.
Evaluating privatisation
Positives
Creates more business-like and efficient schools
Provides parents with more choice
Negatives
Money might be diverted from education into private profit