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The History of mankind is about trials and triumphs over economic, social and political factors that sometimes threaten the self-independence of a community. World Bank has been accused of introducing policies that perpetuate poverty instead of eradicating the economic factor that is the cause of poor economic development in third world nations. According to Ravi Kanbur, the world as a society compromised of government and nongovernmental agencies come together in 2000 in closed door meeting to deliberate and find solutions to the best economic policies that can be used to mitigate poverty; but the leaders still disagree on economic policy, distribution of poverty and what actually constitutes poverty as a term 2001).
The world leaders are yet to agree on the fiscal adjustment of trade, “monetary and interest rate policy, exchange rate regimes, trade and openness, internal and external financial liberations including deregulation of capital flows”(Kanbur 2001, 3). Differences still persist between leaders who want privatization and nationalization of property.
The greatest division is whether trade should be conducted without government interference as opposed to government intervening for the cause of citizens in the case where prices can be driven up by speculations and demand and supply dynamics.
According to Kanbur (2002, 4) the Group A subscribe to the ideology that poverty is caused by rapid adjustment of fiscal imbalances that increase inflation and external deficits leading to high interest rates. From that perspective, it is true that trade imbalances is the main reason why the United States is unhappy about the Chinese Yuan gaining more over the dollar in international trade exchange. Secondly, the United States as well as the European Union is opposing the concept of Chinese closed economy that does not allows supply and demand manipulation of the Yuan currency as compared to the free falling dollar and Euro. On the contrary, the Type B are against deregulation of capital controls and privatization of national enterprise. Therefore, more countries are joining in the debate whereby some agreements have been met; all leaders agree that poverty is determined by the level of healthcare and education. Therefore, the Vaccine Purchase Fund was set up to help offset the high cost of vaccines for some countries (Kanbur, 2001, 6).
Equally, all economic partners have agreed to the position that specific marketing strategies like market liberation can potential increase the productivity output and heighten the demand for labor. However, India is concern about the deregulation of the pharmaceutical industry since the government has an upper hand to control the flow of drugs that are quite hazardous. Similarly, many countries oppose market liberation of Export Processing Zones so that labor standards are administered by the government (Kanbur, 2001, 7).
The nature of the disagreements differed according to the economic policy that each region advanced and how each leading force campaigned before the rest of the members. However, spectacular agreements include how to calculate the level of poverty. One, the world stakeholders unanimously agree that the level of poverty can be calculated using the critical income level versus expenditure whereby a threshold was placed at One dollar per person per day as the poverty line. Contrary, countries differ on the best method to calculate poverty index in regard to trade and economy particularly bearing in mind that populations are increasing in urban areas giving the wrong impression that poverty is reducing in rural areas without mentioning urban poverty. Therefore, household surveys were constructed to offer an alternative data.
In conclusion, Group A articulate for economic emancipation of family households through short-term and long-term measures that can introduce a market-based economic structure expected to transform economic reform through competition. On the contrary, the Group B countries believe that openness in trade is impossible to reject market-based economy for a state-based marketing policy in which the state regulates trade to avoid big power corporations from speculating trade because of demand and supply dynamics (Kanbur, 2001, 16).
“Ideas of Justice” by Amartya Sen
Justice is Freedom is synonymous with justice. The definition of justice differ universal according got different factors that different cultures considers when defining justice. The capacity and inability of individuals to conduct business in one region is discussed at length by the author in that she questions whether a wealth company doing business and competing against a less-endowed and successful individual is ideally injustice or basically justified ethically and legally. That is can a disabled person compete favorably against a well-bodied person in the same conditions; the level of equity has positive and negative economic enhancing factors in every respect (Sue, 2008, 334). Therefore, comparative assessment of the economic situation of people and the society is to a lesser degree defined by the primary production of goods and services but according to the richness of the lives that people live.
Linking responsibility to effective power is a question that inquires into the level of human understanding to cause social transformation that can result in human development (Sue, 2008, 335). The author is concern that as to whether every individual in the society can react positively and identify opportunities to profit from in the course of a social transformation change.
Mainstream political change concentrates in political ideology and a philosophy forgetting the main goal of social action is to bring about economic changes before social and political changes can be felt. Ignorance of people about the mission and goal of social reforms and more particularly to the ignorance to personal interests and benefits that each individual is to gain; to that effect the authors questions the credibility of social regulations to support social reforms. Predominantly, the unanswered question is how the government and society is prepared to maintain justice when governing a social reform process to make sure selfishness and greedy aspects of society fail to interfere with openness to unity. Mutual cooperation within society is vital to overseeing that benefits of the social change get to promote joint groups of people instead of benefitting particular individuals (Sen, 2008, 5). However, the Buddha argument that every individual has a social responsibility by virtue of being social conscious to help other species, thus, every individual ought to use talents and awareness for the benefit of the society in reducing discrimination and injustice.
How the society can be run more maturely is a question that needs comparative assessment of constitution and legal framework within each community to ascertain fairness. The author asserts that the transcendence theory lacks the credibility to analyze the impacts of fairness and unfairness in that the theory considers different social arrangements without evaluating the diverse differences. On the contrary, the human development theory and social choice theory allow researchers to estimate, evaluate and reason to draw conclusions based on facts and experience on how to reduce injustice or increase justice in the society (Sen, 2008, 337).
Global unrestrictive coverage of human development is much more about positive attributes of comprehensive globalization in which the perception of human development to justice is not restricted by boundaries, culture, race or sex; but justice is perceived as universal right. Therefore, the establishment of justice needs remarkable social control to check misuse of power conferred to the institution for the department to run free of government and irresponsive power interference that can sometimes obstruct justice and fairness.