Relationship of Economic Stability to Social and Economic Rights

Abstract:     
Significant gains in human rights have been achieved over the centuries, and our advancement in economics has been an important factor in this progress. In very recent time, a more substantive understanding of economics has revealed uneven expected (investment) risk as a cause of poverty, and has suggested corrective measures or actions. One action is to institute damping or "smoothing" of trade and investment across international boundaries thereby increasing predictability, and promoting investment and enterprise; And an action within each nation is the cooperation of government and citizenry in promoting investment in (capital-intensifying) education and health, and accordingly suppressing/reversing the tendency of markets to divide us into rich and poor. Economic stability, the condition wherein responsible government systematically addresses and reverses poverty, is a requirement for a just world at peace and harmony - indeed, the notion that we can meet our great challenges, and ultimately achieve the good society, in a world inclined to division and poverty cannot be defended. Since economic stability is of paramount importance, it is concluded that socio-economic rights serve to advance and preserve this primary condition. More to the point, in the arrest and reversal of poverty, advancement of social and economic rights is shared, or integral, with responsible governance. While social and economic rights (and human rights complete) can and will be pursued as proper and just, their advancement now serves a communal goal: Socio-economic balance, while never exactly achieved in our dynamic world, is continually approached, as the just commitment to economic stability.

Number of Pages in PDF File: 9

Keywords: social rights, economic rights, poverty, justice, instant utility, psychology, microeconomics, governance, market stability

JEL Classification: B20, D00, F40, I38, J20, O10, P10

working papers series