Write a short note on economic liberty?
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A group of people that governs a community or unit. It sets and administers public policy and exercises executive, political and sovereign power through customs, institutions, and laws within a state. A government can be classified into many types--democracy, republic, monarchy, aristocracy, and dictatorship are just a few.
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➨ Economic Liberty means security and the opportunity to find the earning of one's daily bread .
➨ Individual should be free from constant fear of unemployment, underemployment and starvation.
➨ State has to provide to all its citizens adequate means of livelihood .
➨ It implies democracy in industry that is the absence of this Liberty worker has to work at the behest of others .
➨ This is security through the economic rights like :
⚫ Right to work
⚫ Right to adequate wages
⚫ Right to rest Liesure and reasonable hours of work .
⚫ Right two material benefits during old age sickness and unemployment allowance etc .
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