The topic of study is about the good governance of courts systems and economic justice. Governance reforms are implemented when inefficiency needs to be overcome. This inefficiency can be related to the political, legal and economic environment of the country. Basically, it means being able to access justice. This right should not be restricted for the elite class. It is a right not a privilege. Many societies today do not have access to this right freely. The second part of the topic is economic justice; this is closely linked to the first part.
Justice is a right; it is to give people their due right. The problem then becomes what a person is due. Thus, economic justice then can be defined by the Center for Economic and Social Justice as “the moral principles which guide us in designing our economic institutions. These institutions determine how each person earns a living, enters into contracts, exchanges goods and services with others and otherwise produces an independent material foundation for his or her economic sustenance.
The ultimate purpose of economic justice is to free each person to engage creatively in the unlimited work beyond economics, that of the mind and the spirit. ” Economic justice is based on three principles The Principle of Participation, The Principle of Distribution, and The Principle of Harmony. These principles act as a three-legged stool; either one goes missing the stole will be imbalanced. These three principles are defined by Louis Kelso and Mortimer Adler, the theory is called The Three Principles of the Kelso-Adler Theory of Economic Justice.
(http://www. cesj. org/thirdway/economicjustice-defined. htm) I choose this topic because justice has always been an important aspect of our lives. The people making the laws and the people implementing them do not coincide. The guilty roam free; while the innocent rot in jail. As a human being, I have the right to any kind of justice and I want people to know that they do too. Background My research shows that usually it is the under developed or the developing countries which face such problems on a larger scale.
Developed nations are not very familiar with such problems as their judicial system has been firmly set in the minds of the people. There are some exceptions, where incidents do occur, but not often. Also, countries where such a problem exists usually are changing their policies and/or governments. I have gone through many articles, books and journals regarding this topic and related to this topic. Corruption is one of the stated reasons for such a weak system. Another reason is the role that the government plays through its monetary policy.
The government can influence many decisions in the country through changing its monetary policy. They can control the flow of money, interest rates and inflation rates. Thus, the role that the government plays is very important. It is the government’s job to ensure that certain sectors in the economy are strong, for the benefit of the people. They can make use of the tools that they have, which collectively are known as the monetary policy. The government by providing subsidies to certain sectors and making sure they have the inputs they need can accelerate the process of justice.
The articles give examples of what is going wrong and how, but they do not give the answers as to how to stop it? Different writers have helped explain in different ways, some with examples of nations who are facing such problems today. Literature mentions what the government is doing, one area they are not focusing upon is the SME development. This can help improve the situation within the country. Through the monetary policy the government should ensure that suitable factor conditions should arise for the industries to survive in the local market and in the international arena.