Economic Theory, Freedom and Human Rights:
The Work of Amartya Sen
This Briefing Paper reviews the ways in which the Nobel Prize winning economist Professor Amartya Sen has focussed
international attention on the significance of fundamental human freedoms and human rights for development theory and practice. In the past, dominant approaches have often characterised
development in terms of GDP per capita; food security in terms of food availability; and poverty in terms of income deprivation. Emphasis was placed on economic efficiency – with no explicit role being given to fundamental freedoms, individual agency and human rights. In contrast, Sen’s research has highlighted the central idea that, in the final analysis, market outcomes and government actions should be judged in terms of valuable human ends. His work has contributed to important paradigm shifts in economics and development – away from approaches that focus exclusively on income, growth and utility, with an increased emphasis on individual entitlements, capabilities, freedoms and rights. It has increased awareness of the importance of respect for human rights for socio-economic outcomes – challenging the proposition that growth should take priority over civil and political rights, while highlighting the role of human rights in promoting economic
security, and the limitations of development without human rights guarantees.
Moving theoretical and empirical economics
forward: The building blocks of Sen’s
expanding the types of variables and influences that are
accommodated in theoretical and empirical economics. His
contributions include far-reaching proposals for incorporating individual entitlements, functionings, opportunities, capabilities, freedoms and rights into the conceptual foundations and
technical apparatus of economics and social choice. These
proposals reflect a number of central recur r ing themes
• the importance of pluralist informational frameworks that take account of both the well-being aspect of a person
(relating to his or her own personal physical and mental
well-being) and the agency aspect (relating to the goals
that a person values, desires and has reasons to pursue;
and being sensitive to processes as well as to outcomes –
reflecting the intrinsic value of individual choice and
• the need to go beyond the assessment of utility and
income, taking account of entitlements, capabilities and
functionings, and adopting a broad view of preferences,
incorporating the capability to achieve what is valued and counterfactual choice (what people would choose, given the choice). • the importance of approaches giving a central role to
freedoms and rights. In Sen’s view, this importance cannot be captured in terms of the utility metric. Welfarist
informational bases are too narrow to reflect the intrinsic
value of freedom and rights, which should be brought
directly into social-economic evaluation.
The limitations of traditional welfare economics
Economics beyond ‘welfarism’
Given the limitations of traditional approaches, Sen has
elaborated a ser ies of for mal proposals for moving the
economics agenda forward – beyond ‘welfarism’ – and for
The ‘common currency’ of development
Right and Freedoms Assignment
The amendments are constantly being changed and altered to accommodate for the changing being made in the nation today. The founders established that the Constitution change as needed to meet needs of the country, but only if the changes had proper meaning. The amendments added to the Constitution have to meet certain rights for Americans and provide clarification for the original Article V. Over the years the amendments have been changed or altered but have stayed the same in the overall purpose of each amendment, they can be changed at any time, but it will be a while before real action will take place. The amendments are set for Americans freedom and rights, and we should have a say in exactly what they are and how they should be changed if changes are required. The world is always changing and growing and for us to survive and continue thriving we have to make changes.
The freedom guaranteed to me in the First Amendment to the Constitution that is most relevant to me personally would be freedom of speech, I am very opinionated and I have a lot to say, it does not always come out the way I want it to but I still get my point across. I have a tendency of talking a lot more than everyone else and some times that can drive everyone crazy, my mouth gets me in trouble more than other things do. I really need to learn how to...
Instructor: Jennifer Biddle
Rights and Freedom
In this paper I will discuss about which freedom that guaranteed me in the First amendment to the Constitution. I will also discuss about the significance of the Bill of Rights, and the process for amending the constitution. The amendment which guaranteed freedom to me in the First Amendment to the Constitution personally is the Amendment 1. Amendment 1 states that I am guaranteed my right of freedom of speech, press, and religion, peaceable assembly, and petition. This amendment here first of all offers a variety of freedoms for me. And I believe that as a citizen here in America I am entitled and to these rights.
One of the first amendments is the freedom of speech, I am glad this was guaranteed so that I may have the right to express how I may feel and about the matters of this world. And that it is ok to be able to do so and also to be able to express my opinions, feelings, and etc. So with that being said I am able to speak about the issues or area that our government don’t really handle or are not really addressing whatever needs to be address. This is very important to me because I am able to speak my mind without being prosecuted for it and to actually really get my point across of what I need to and just be able to speak about...
February 26, 2012
Grand Canyon University
Professor Amanda Froes
RIGHTS AND FREEDOMS
The Bill of Rights is composed of the first ten amendments to the Constitution of the United States. Amendments can become a part of the Constitution by one of two ways. These are spelled out in Article V of the Constitution. To propose an Amendment both the U.S. Senate and the House of Representatives must approve the proposal by a two-thirds supermajority vote. An Amendment can be ratified by a three-fourth states legislature approval or through ratifying conventions in which three-fourths of the states approve it.
These first ten amendments simultaneously became part of the Constitution in 1789 when they were ratified by the existing states of the Union. As a result every American is endowed with these rights that the Federal government is obligated to protect.
• The First Amendment provides for the rights of freedom of speech, press, peaceful assembly, and freedom of religion as well as the right to petition.
• The Second Amendment guarantees citizens the right to bear arms; which means that citizens have the right o weapons and guns in their homes with certain provisions.
• The Third Amendment prohibits the government from forcibly housing militia or soldiers in a person’s house...
...make sure that everything runs smoothly in any company.
Part II: The Three Branches of the Federal Government.
The Executive Branch
* The President is in this branch
* In charge of federal laws
* Directs national defense and foreign policy
* Moves the government
* Demands the Armed Forces
* Works with international powers
* Vetoing laws
* Headed by Congress (House of representatives and the Senate)
* In charge of laws
* Impeaching officials
* Approving treaties
* The Supreme Court
* Interpreting the Constitution
* Reviewing laws and making sure they are good so they won’t be dismissed
* Deals with cases that have to do with states’ rights
The three branches interact in many ways and are designed to overlap in their duties. Although Congress has legislative authority, their powers are partly shared by the judicial and executive and thus has to be reviewed and checked by them. The Executive Branch has the power of the president but is also connected by legislative and judicial checks. The executive branch cannot act without laws that authorize its activities have the money that pays for these activities. Last but not least, the Judicial Branch has the power of the Supreme Court and other federal courts, which are subject to checks by the other branches of the federal government. A far better example of how these three branches interact with each other...
May 14, 2013
GB540: Economics for Global Decision Makers
Economicfreedom is the way a country operates. It involves the techniques a country uses to produce, sell and use their own resources while respecting others’ rights to do the same. (Economicfreedom 2011) Economicfreedom is very import because it impacts the success of that country. Those countries thriving in economicfreedom tend to thrive while those who are not tend to be in poverty filled environments. Living an economy with high levels of economicfreedom reflect areas that have higher incomes, longer life expectancies and less unemployment. (Economicfreedom 2011) The Heritage Foundation, in collaboration with the Wall Street Journal publishes the Index of EconomicFreedom. This publication reveals the results of measuring economicfreedom of different countries in the world, as well as ranking them. The Heritage Foundation includes multiple components when measuring economicfreedom; some of these components include levels of business, trade, labor freedom, and government spending. This essay will focus on the relationship of economic...
...issue of vast globalization, economic development and its impact on various aspects of state wellbeing is the one that needs to be looked at very carefully. Moreover, direct investments into the country’s development and as a result improved quality of life are an additional incentive to increase the economicfreedom level. Throughout the centuries scholars and economists have argued on whether economicfreedom based on private property and free markets is the only beneficial and effective form of economy formation or centralized system of governing is better. Myriad researches have been brought to public, however, our group believes economicfreedom is currently in increasing phase of its development, and thus should be thoroughly examined and reviewed basing on country background and scores obtained. This, in our view, will help to accelerate the wellbeing of Kazakhstan and possibly attract additional cash inflows from external market players. The paper will examine the issue of economicfreedom and indices it defines in more details, will cover all the aspects included in consideration of the latter concept and will try to assess the relationship between economicfreedom and potential investments rise.
Brief definition of basic concepts
In order to be in line with the topic and understand it deeply, below we present...
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
the social science that studies economic activity to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy.
SCARCITY: THE NEED TO CHOOSE
Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. A common misconception on scarcity is that an item has to be important for it to be scarce. However, this is not true, for something to be scarce, it has to be hard to obtain, hard to create, or both. Simply put, the production cost of something determines if it is scarce or not. For example, although air is more important to us than diamonds, it is cheaper simply because the production cost of air is zero. Diamonds on the other hand have a high production cost. They have to be found and processed, both which require a lot of money. Additionally, scarcity implies that not all of society's goals can be pursued at the same time;trade-offs are made of one good against others.
The basic economic problem that arises because people have unlimited wants but resources are limited. Because of scarcity, various economic decisions must be made to allocate resources...
Jose E Mendoza
Allied American University
This paper was prepared for ECN 150, Introduction to Microeconomics, Module 2 Homework Assignment taught by Nikki Follis.
After reading the two articles in Modules 1 and 2 related to EconomicTheory (first,“How Did Economists Get It So Wrong” and second, “History of Economics Playground”), reconstruct what happened from 2006 through 2012 as it relates to microeconomic theory. Was there too much focus on the macro climate and not enough on the micro climate? Do you concur more with Krugman or Giraud? What is the basis for your opinion? Be sure to isolate other peer reviewed articles using the library that back your viewpoint and use it as a basis for analysis, in addition to what you see happening in the market yourself. Compare and contrast the two articles and the two authors’ perceptions of the market.
The global economy recovers from the crisis that engulfed global financial markets in the course of 2008. The effort to stave off total economic collapse has left governments burdened with massive debt that will take years of painful effort to work off. The policy prescriptions of market liberalism, including...