Our Economic World Order - an Ongoing Discrepancy Between Power and Wisdom

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“Our Economic World Order - an ongoing discrepancy between Power and Wisdom”

Observing the course of history, in regards to Human Rights and Development, and considering various statements by personages such as Peter Uvin and Amartya Sen, it is evident that the power play of the developed nations has had a decisive impact on the recognition and realization of Human Rights in Development, and the efficacy of Development in their regard.

Peter Uvin, in his work “Human Rights and Development”, drawing from the atrocities suffered by people in World War II, emphasized how, “economic development doesn’t automatically bring about peace and respect for human rights”. Thereafter, it seemed only natural that something needed to be undertaken in order to refrain from such cruelty to occur in the future. In fact in 1948, propelled by Eleanor Roosevelt ,the Universal Declaration of Human Rights (DHR) emerged, reflecting specific, inalienable rights all human beings possess by virtue of being human. However, the prevailing East-West conflict at the time, reflecting immensely distinctive approaches to rights and values, rendered the solidification of the DHR on a legal basis rather impossible. Without any obligation for implementation, it is no surprise then, that the influential nations, despite the wisdom they had acquired witnessing the effects of WWII, employed a purely economic growth based approach to development, entailing that an increase in Gross Domestic Product (GDP) would automatically result in a higher standard of living and therefore constitute Development. Economist Arthur Lewis, in his book “The theory of Economic Growth”, upholds this classical growth based model of development, to be ideal. He argues that, “growth requires a capitalist/ entrepreneurial class” - he likes to call the industrial bourgeoisie - “that can invest, create wealth, generate return,…...

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