ECONOMIC SYSTEMS AND ECONOMIC POLICIES

SRUTHY S

ABSTRACT

Included in this article are economic systems and economic policies. 3 classification of economic system are Capitalist Economy, Socialist Economy and Mixed Economy. It describes the changing economic policies are liberalization, privatization and globalization.

The study begins by clarifying  the foundational principles of various economic systems, exploring how they conceptualize private ownership, market forces, and government intervention. Capitalism, with its emphasis on free markets and individual enterprise, contrasts with socialism, where collective ownership and centralized planning play pivotal roles. Mixed economies, found in many nations today, combine elements of both systems in an attempt to strike a balance between individual freedom and societal welfare.

 Liberalization, globalization, and privatization has significantly shaped the economic landscape worldwide. Liberalization involves reducing government restrictions on economic activities, fostering competition. Globalization, the interconnectedness of economies, transcends borders, fostering trade and cultural exchange. Privatization, the transfer of state-owned enterprises to private ownership, aims to enhance efficiency.

Key terms

Economic policies, capitalist economy, socialist economy, mixed economy, liberalization, globalization , privatization.

The impact of poverty on the current and future health status of children

Child poverty in Canada is a significant public health concern. Because child development during the early years lays the foundation for later health and development, children must be given the best possible start in life. Family income is a key determinant of healthy child development. Children in families with greater material resources enjoy more secure living conditions and greater access to a range of opportunities that are often unavailable to children from low-income families. On average, children living in low-income families or neighbourhoods have poorer health outcomes. Furthermore, poverty affects children’s health not only when they are young, but also later in their lives as adults. The health sector should provide services to mitigate the health effects of poverty, and articulate the health-related significance of child poverty, in collaboration with other sectors to advance healthy public policy.

CONSEQUENCES OF POVERTY ON CHILDHOOD HEALTH
Research has shown that children living in low-income families or neighbourhoods in India have worse health outcomes, on average, than other children, as determined by a number of key indicators. Various pathways have been proposed through which poverty may influence health.

CHILD POVERTY AND ADULT HEALTH

Adult health is shaped throughout the life course. However, the early years are of special significance because childhood is a key stage in life for the development of physical and emotional health, cognitive and educational capabilities, and the formation of health-related behaviours, which provide the foundation for future health and development . There is increasing evidence that children’s early experiences with poverty affect their health as adults. In addition to experiencing higher rates of adult mortality , children from economically disadvantaged backgrounds have poorer adult health in a number of areas , including physical disability, clinical depression and premature death .

STRATEGIES TO ADDRESS CHILD POVERTY

Child poverty is a significant health concern. Considerable research evidence points to the negative impact of low socioeconomic status on child health including development and later adult health and well-being. It is critical that the public discourse on child poverty includes a discussion of its far-reaching impacts on the health of current and future generations of indians. Professionals and organizations working within the health sector are well-positioned to articulate the health-related significance of child poverty and to work collaboratively with other sectors to address child poverty.

SUMMARY AND CONCLUSION
Child development during the early years occurs at a pace that is unsurpassed during later stages and lays the foundation for subsequent development. Given the importance of these early years, it is critical that young children be provided with the best possible start. There is ample evidence that family income is a key determinant of child health and development.

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