Socio-Economic Rights in Emerging Free Markets

Socio-Economic Rights in Emerging Free Markets PDF

Author: Surya Deva

Publisher: Routledge

Published: 2015-09-25

Total Pages: 390

ISBN-13: 1317804694

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In the last decade or so, China and India have emerged on the global stage as two powerful free market economies. The tremendous economic growth in China and India has meant that they have been able to lift millions of people out of the poverty trap. This growth has not, however, been without problems. Apart from worrying levels of environmental pollution, a significant number of people are still struggling to live a decent life as they do not have adequate access to basic needs such as food, health services, education, water, and housing. The traditional old age support mechanism is collapsing amidst push for urbanisation and the practice of nuclear families, while the alternative social security system has not been put in place. Both China and India stress the importance of socio-economic rights, have ratified the International Covenant on Economic, Social and Cultural Rights and have in place a strong legal framework for the realisation of such rights. The constitutions of China and India accord significant importance to socio-economic rights and the both countries have numerous laws, regulations and policies that seek to implement various socio-economic rights. This book investigates how the gradual adoption of free market ideology has impacted on the realisation of socio-economic rights in both India and China and how the constitutional and legal frameworks have made necessary adjustments. Chapters in this volume, which are written by academics of international standing, explore how these two countries have tried to overcome certain common governance challenges in realising socio-economic rights. The role played by courts in India and China in the protection and realisation of socio-economic rights is considered along with the use and limitations of public interest litigation in achieving these rights. Finally, the effectiveness of measures in realising socio-economic rights are evaluated in relation to specific rights such as the rights to food, health, education, social security, and gender equality.

Beyond Free Market

Beyond Free Market PDF

Author: Fayyaz Baqir

Publisher: Routledge

Published: 2021-05-19

Total Pages: 246

ISBN-13: 1000396177

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This book explores the causes and consequences of market failure in bridging societal differences to create a shared economy. It questions the current world order and evaluates socio-economic gains in reference to the social origins of the economic agents. With a need to counterbalance economic growth with social equality and environmental sustainability, the book proposes innovative approaches to address key questions on the contemporary global economy such as, "Is the Global socio-economic order supportive of the pursuit of rational and enlightened self -interest?", "Is it a unipolar power centre and neoliberal economic policy regime?", "Can the system reinvent itself?", etc. One approach encourages going back to the golden past and making things "great again", insisting that history has ended and the failures of old global institutions be blamed on the "Clash of Civilizations". Another approach advocates giving up the intellectual comfort zone of elegant but irrelevant neo-liberal explanations of global challenges and asking new questions that take academic debate to the public square. The book examines the internal challenges and contradictions that cause disintegration and proposes alternative ideas and practices in moving the global community beyond the free market regime. The book will appeal to students and academics of development studies, political economy, political science, sociology, as well as policymakers and public opinion makers interested in creating a new egalitarian global society.

Socio-Economic Rights in Emerging Free Markets

Socio-Economic Rights in Emerging Free Markets PDF

Author: Surya Deva

Publisher: Routledge

Published: 2015-09-25

Total Pages: 393

ISBN-13: 1317804686

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In the last decade or so, China and India have emerged on the global stage as two powerful free market economies. The tremendous economic growth in China and India has meant that they have been able to lift millions of people out of the poverty trap. This growth has not, however, been without problems. Apart from worrying levels of environmental pollution, a significant number of people are still struggling to live a decent life as they do not have adequate access to basic needs such as food, health services, education, water, and housing. The traditional old age support mechanism is collapsing amidst push for urbanisation and the practice of nuclear families, while the alternative social security system has not been put in place. Both China and India stress the importance of socio-economic rights, have ratified the International Covenant on Economic, Social and Cultural Rights and have in place a strong legal framework for the realisation of such rights. The constitutions of China and India accord significant importance to socio-economic rights and the both countries have numerous laws, regulations and policies that seek to implement various socio-economic rights. This book investigates how the gradual adoption of free market ideology has impacted on the realisation of socio-economic rights in both India and China and how the constitutional and legal frameworks have made necessary adjustments. Chapters in this volume, which are written by academics of international standing, explore how these two countries have tried to overcome certain common governance challenges in realising socio-economic rights. The role played by courts in India and China in the protection and realisation of socio-economic rights is considered along with the use and limitations of public interest litigation in achieving these rights. Finally, the effectiveness of measures in realising socio-economic rights are evaluated in relation to specific rights such as the rights to food, health, education, social security, and gender equality.

Defending the Free Market

Defending the Free Market PDF

Author: Robert Sirico

Publisher: Simon and Schuster

Published: 2012-05-21

Total Pages: 226

ISBN-13: 1596988118

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Thirty years ago, the economic system of the Soviet empire—socialism—seemed definitively discredited. Today, the most popular figures in the Democratic Party embrace it, while the shapers of public opinion treat capitalism as morally indefensible. Is there a moral case for capitalism? Consumerism is an appalling spectacle. Free markets may be efficient, but are they fair? Aren’t there some things that we can’t afford to leave to the vicissitudes of the market? Robert Sirico, a onetime leftist, shows how a free economy—including private property, legally enforceable contracts, and prices and interest rates freely agreed to by the parties to a transaction—is the best way to meet society’s material needs. In fact, the free market has lifted millions out of dire poverty—far more people than state welfare or private charity has ever rescued from want. But efficiency isn’t its only virtue. Economic freedom is indispensable for the other freedoms we prize. And it’s not true that it makes things more important than people—just the reverse. Only if we have economic rights can we protect ourselves from government encroachment into the most private areas of our lives—including our consciences. Defending the Free Market is a powerful vindication of capitalism and a timely warning for a generation flirting with disaster.

Markets, Morals, and Policy-Making

Markets, Morals, and Policy-Making PDF

Author: Enrico Colombatto

Publisher: Routledge

Published: 2012-03-29

Total Pages: 374

ISBN-13: 1136668071

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Free-market economics has attempted to combine efficiency and freedom by emphasizing the need for neutral rules and meta-rules. These efforts have only been partly successful, for they have failed to address the deeper, normative arguments justifying – and limiting – coercion. This failure has thus left most advocates of free-market vulnerable to formulae which either emphasize expediency or which rely upon optimal social engineering to foster different notions of the common will and of the common good. This book offers the reader a new perspective on free-market economics, one in which the defense of markets is no longer based upon the utilitarian claim that free markets are more efficient; rather, the defense of markets rests upon the moral argument that top-down coercive policy-making is necessarily in tension with the rights-based notion of justice typical of the Western tradition. In arguing for a consistent moral basis for the free-market view, we depart from both the Austrian and neoclassical traditions by acknowledging that rationality is not a satisfactory starting point. This rejection of rationality as the complete motivator for human economic behaviour throws constitutional economics and the law-and-economics tradition into new relief, revealing these approaches as governed by considerations derived by various notions of social efficiency, rather than by principles consistent with individual freedom, including freedom to choose. This book shows that the solution is in fact a better understanding of the lessons taught by the Scottish Enlightenment: the role of the political context is to ensure that the individual can pursue his own ends, free from coercion. This also implies individual responsibility, respect for somebody else’s preferences and for his entrepreneurial instincts. Social virtue is not absent from this understanding of politics, but rather than being defined through the priorities of policy-makers, it emerges as the outcome of interaction among self-determining individuals. The strongest and most consistent case for free-market economics, therefore, rests on moral philosophy, not on some version of static-efficiency theorizing. This book should be of interest to students and researchers focussing on economic theory, political economics and the philosophy of economic thought, but is also written in a non-technical style making it accessible to an audience of non-economists.

Free Markets and Social Justice

Free Markets and Social Justice PDF

Author: Cass R. Sunstein

Publisher: Oxford University Press, USA

Published: 1997

Total Pages: 424

ISBN-13:

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We are in the midst of a worldwide debate over whether there should be "more" or "less" government. As enthusiasm for free markets mounts - in both former Communist nations and in Western countries such as England and the United States - is it productive to attempt to solve problems through this "more/less" dichotomy? Written by one of the preeminent voices in the legal/political arena today, this ground-breaking book moves beyond the "more/less" question by presenting a new conception of the relationship between free markets and social justice. Instead of asking whether there should be more or less regulation, Cass R. Sunstein asks readers to consider what kinds of regulations promote human well-being in different contexts. He develops seven basic themes, involving the myth of laissez-faire, the importance of fair distribution, the puzzle of human rationality, the diversity of human goods, the role of social norms in forming people's preferences, the contextual character of choice, and the effects of law on human desires. As the latest word from an internationally renowned writer, Free Markets and Social Justice suggests a new way of understanding the role of the economic marketplace in a democratic society.

Law and Sustainability

Law and Sustainability PDF

Author: Koen Byttebier

Publisher: Springer

Published: 2023-06-24

Total Pages: 0

ISBN-13: 9783030926229

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This book deals with some aspects of the future shape of the socio-economic order which would be founded on sustainability principles and the role of law therein, instead of on the prevailing capitalist economic order. The volume elaborates in particular on how innovation, a crucial aspect of free-market capitalism and its laws which constitute the current socio-economic order, could result in a more sustainable economy which, in turn, could lead to a more sustainable society. Moreover, the book analyses current developments in financial and economic law and evaluates their perks, risks and sustainability levels. The book contains no less than 11 chapters in which a variety of experts share their state-of-the-art insights regarding specific domains of socio-economic life. As such, the book deals with topics that are at present fully under debate in societies, such as student credit and the dangers it entails, cryptocurrencies and how the law tries to regulate this basically private law instrument, groups of companies under Belgian (company) law, a proposal for improving the international monetary system, and seeds and intellectual property rights, besides various other similar themes. The book forms the latest volume of the book series Economic and Financial Law & Policy – Shifting Insights & Values, and fully complies with the series’ goal of critically examining the legal methods and mechanisms that shape the global free markets and proposing alternatives to them. The book will hereby prove a valuable instrument for all researchers investigating these matters, besides policymakers and their advisers as well as all lawyers active in the field of economic law who look for a new perspective on the subject matters dealt with.

What We Owe Each Other

What We Owe Each Other PDF

Author: Minouche Shafik

Publisher: Princeton University Press

Published: 2022-08-23

Total Pages: 256

ISBN-13: 069120764X

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From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.

Freedom From the Market

Freedom From the Market PDF

Author: Mike Konczal

Publisher: The New Press

Published: 2021-02-02

Total Pages: 258

ISBN-13: 1620975386

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The progressive economics writer redefines the national conversation about American freedom “Mike Konczal [is] one of our most powerful advocates of financial reform‚ [a] heroic critic of austerity‚ and a huge resource for progressives.”—Paul Krugman Health insurance, student loan debt, retirement security, child care, work-life balance, access to home ownership—these are the issues driving America’s current political debates. And they are all linked, as this brilliant and timely book reveals, by a single question: should we allow the free market to determine our lives? In the tradition of Naomi Klein’s The Shock Doctrine, noted economic commentator Mike Konczal answers this question with a resounding no. Freedom from the Market blends passionate political argument and a bold new take on American history to reveal that, from the earliest days of the republic, Americans have defined freedom as what we keep free from the control of the market. With chapters on the history of the Homestead Act and land ownership, the eight-hour work day and free time, social insurance and Social Security, World War II day cares, Medicare and desegregation, free public colleges, intellectual property, and the public corporation, Konczal shows how citizens have fought to ensure that everyone has access to the conditions that make us free. At a time when millions of Americans—and more and more politicians—are questioning the unregulated free market, Freedom from the Market offers a new narrative, and new intellectual ammunition, for the fight that lies ahead.

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