The Concept of Economic Freedom analyzed within Human Rights Advocacy, presents a great challenge to both sides of the political equation. At least, the works of the Economist, FA Hayek: “Road to Serfdom”, sheds some light on this political economic conceptualization.
Human rights, freedom, liberty, independence and free enterprise economies are the fundamental considerations within the intellectual argument of the rather obnoxious conflicts identified between human rights and economic freedom.
Free Enterprise economies at least, in theory frown upon socialism and increased governmental control of the factors of production, property ownership and freedom of the interplay of the market scissors of demand and supply. However, in practice, even free Enterprise economies are witnessing a rather high levels of governmental spending and control of the individual rights and liberties. At least, post the World War II, government spending has risen from about 25% to about 50% of the national purse just at par with the private sector spending – this kind of trend does not give a perfect picture of a free enterprise economy, where freedom of the citizens to access and control wealth and the factors of production are expected.
The consequent result is that as unemployment increases, the government is compelled to lay off or cut down wages and salaries to the detriment of the economic freedom and liberties of the people. The other side of the coin is that as inflation hits its apex, government is rather encouraged to increase wages and salaries in fulfilment of the economic demands of the people. By honoring the economic freedom of the people through increased wages and salaries, the purchasing power of the people is increased therefore, the economic approach of reducing prices of goods and services in order to check inflation rise is defeated. With high purchasing power, emanating from the gains of economic freedom of increased wages and salaries inflation is never going to be arrested; perhaps a devaluation of the currency is an ideal approach.
The continuous increased government size and spending, puts the government in such a capacity that the individual rights and liberties are unduly violated from every facet of their daily lives. Talk about, active police presence and other security agencies through governmental funding - individual interrogations and arrest become so arbitrary. Government could confiscate individual properties at will and violate the rights of the people with impunity.
These push and pull factors serving as catalyst in the chemical reaction of the conflict existing within the economic political concepts of human rights and economic liberty is of much concern.
Is capitalism dwindling in practice to the advantage of social democracy? What are the obvious legal economic ramifications for the sustenance of rule of law, Human Rights observance and democracy?
No comments:
Post a Comment