Social justice and equity is more important than economic justice and equity.
Social justice generally refers to the idea of creating a society or institution that is based on the principles of equality and solidarity, that understands and values human rights, and that recognizes the dignity of every human being
Defining Social Justice
Social justice encompasses economic justice. Social justice is the virtue which guides us in creating those organized human interactions we call institutions. In turn, social institutions, when justly organized, provide us with access to what is good for the person, both individually and in our associations with others. Social justice also imposes on ...view middle of the document...
Economic and social policy issues are often discussed in isolation, whereas they are deeply intertwined. Choices made in the macroeconomic sphere have profound implications for the achievement of social objectives. Development literature, nevertheless, makes a distinction between growth-mediated and support-led processes to achieve rapid improvement in social service arrangements. The growth-mediated process works through rapid economic growth and utilisation of enhanced economic prosperity to expand social services. On the other hand, the support-led process works through programmes of larger social support for health care, education and other social service arrangements. Quite often, lack of resources is presented as an argument for postponing socially
important investments until a country is already richer. Nevertheless, asSen (1999b) has convincingly demonstrated, a country need not wait until it is rich before embarking on rapid expansion of basic education and health care; the success of the support-led process in countries like SriLanka, China and Costa Rica does testify that. The fact that education and health care are also productive in raising economic growth strengthens the argument for putting major emphasis on these social arrangements in 44poorer economies like India without having to wait for getting rich first. Inother words, economic growth and social justice do not operate against each other even in the immediate run.
2. india nad china: one manufacturing hub and other knowledge hub....
Spearheaded by highly-qualified technocrats, including the prime minister WITH THE fourth largest reservoir of scientific manpower in the world and numerous institutions engaged in frontier areas of research and development (R&D), India is emerging as the preferred hub for knowledgebased industries. Its skills in the knowledge economy are not restricted to information and communication technology alone but spans agriculture, defence, novel drug discovery, biotech, nano-technology, missile technology and space.
India's efforts to become a superpower in the knowledge economy are spearheaded at the highest level by Prime Minister Manmohan Singh, an Oxford and Cambridge-educated economist. "It is often said that the 21st Century will be the knowledge century. We in India are proud of our inheritance in this regard," Manmohan Singh told India's 4th annual conclave .The prime minister has also proposed a Diaspora Knowledge Network that will establish a knowledge corridor between India and the top achievers in the 25-million Diaspora spread across 110 countries. Already, Microsoft, General Electric, Intel, IBM, Boeing and Google are some of the 100-odd global firms that have set up R&D centers in India, and many more are actively considering similar facilities. In fact, a study by the Confederation of Indian Industry (CII) estimates that India is almost a $15-billion hub for knowledge process outsourcing by the end of 2010,...