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Economic freedom

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  1. Introduction
  2. Design of the study
    1. Title of the study
    2. Objectives of the study
    3. Scope of the study
  3. Methodology of the study
    1. Research design of the study
  4. Sources of data
    1. Primary source
    2. Secondary source
  5. Limitations of the study
  6. Theoritical background of the study
    1. Causes of stress in the workplace
    2. Job stress and health
  7. Work/life conflicts
  8. Eliminating barriers to advancement
    1. Preparing women for management
    2. Accommodating families
    3. Work-life practice guidelines
  9. Brief of companies policies and facilities
    1. Infosys
    2. Wipro
    3. SAP
    4. IBM
    5. Google
  10. Findings of the study
  11. Recommendations
  12. Bibliography

Amartya Sen argues that world development should not be judged by plain economic statistics such as GDP growth rates or income per capita. Instead he argues a form of measurement that uses a "freedom-centered understanding of economics" where the enhancements of individuals liberties is both the means and ends of development. Historical evidence, however, suggests that an excess or paucity of freedom is harmful; therefore, one should avoid total freedom and seek a balance between the two endpoints, as this seems to be the most effective social system. There is not, however, one definitive, measurable equilibrium amongst freedoms and, instead, the weighting of freedoms within a society varies according to the level of development and also fluctuates due to evolving social perceptions.

[...] Instead of relying on economic statistics as development scales, such as GDP, per capita income, debt as a percentage of the budget, etc., Sen argues, we should instead focus entirely on the level of human freedom accorded to various populations. Due to my argument that total freedom should not be the end goal of society, the amount and balance of freedoms in an individual country is integral to its development and continued economic success. The exact level of human freedom, however, is an ambiguous amount that is hard to judge or benchmark. [...]

[...] Foreign direct investment is a positive thing for the developing countries, but domestic economic development that encourages the creation of a large consumer base and strong domestic industries should be the focus of the developing countries. The level of economic freedoms in this type of structure are much different, much less to be exact, than Sen's proposed market mechanism structure. The best examples of the closed, structured economic development are the Asian economies that developed in the post World War II era and lasted until the late 1980s when they completely opened up to the global economy. [...]

[...] Whereas public provision of health care would lead to higher taxes and, therefore, less economic freedom it would provide a greater level of health capabilities for the nation. It is illustrated by the European countries that universal health care leads to more freedom and capabilities in terms of health. A comparison of four European countries which carry out some form of universal health care and the United States illustrates the health vs. economic tradeoff when it comes to balancing the two freedoms. [...]

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