Editorial

Editorial: Nobel Prize winning economist Amartya Sen

Comentarios del artículo By: Jose Acuna Walner Chains ( jwcadenas ) ⋅ March 20, 2009 ⋅ Comments Article

We are experiencing a period of strong global economic crisis, millions of unemployed are notorious, we see it with a friend, family or acquaintances. Companies and banks that go bankrupt and disappear when we're done. The most powerful country, America has been facing the crisis by injecting billions of dollars to banks. Barack Obama received his administration with major financial problems and in his short time has given the world confidence and hope to recover soon. Why we care so much what happens in America? Because there are more than 7 million Mexicans working there and because of everything we export over 88% goes to the United States and everything we import over 65% comes from there.

At a meeting of graduate students in Madrid, we received a lecture from Nobel Prize winner Amartya Sen Economics in 1998, who presented us their views on the crisis and believes that to save the economy has to release the credit market. But lack of confidence in the business community means that, despite government support, not free market. As a result, the business falls, leading banks to restrict credit. What they need not be done only with economic measures, you need confidence. And confidence has fallen so much, he said.

Amartya Sen won the Nobel for his contributions to welfare economics and poverty studies, be sure that if there is a coordinated thinking between the business community, banks, leaders of governments and civil organizations soon recover from the crisis . "The market economy needs restrictions, the market is driven not only by its rules, but to trust the other person and responsible action. There was a lack of business discipline as well as unethical. There were many people making money fast without control of the state: deregulation took many organisms that could have watched certain behaviors. Also need coordinated across countries. "

When to put to the urgency of an economic model that will eradicate poverty in the world told us that "More than an economic model is to develop the capacity of people to take advantage of development. And that requires education, universal health care requires access to microcredit. Also that people look integrated into society and does not appear that the system is against them. Education plays an important role, especially primary education, provides the ability to write and read. Second is economically important for access to work in a globalized world, also for legal issues. "

Amartya Sen in his 75 years, showed us his human side and simple, told us about his great life experience, problems and obstacles that happened in your country, India, and his effort to get ahead, he urged, and I share with you, to keep preparing to face a rapidly changing world full of new challenges. It is a great example for all young people.

Mr. José Acuña Walner Chains
Director General

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