Diversity and Inclusivity as a Value Based Imperative
Diversity and inclusivity in organizations have to be practiced instead of being preached. This is because they are concepts that lend credence to value based management and management that is humanistic in nature. Many organizations claim to have diversity programs only to have a few women in positions of power or differently abled employees just […]
Types of Credit Events
The purpose of credit derivatives is to make sure that the interests of the buyers of protection are secured if any adverse credit event takes place. Now, since contracts worth billions of dollars are dependent upon adverse credit events, it is essential to clearly define what a credit event is. In general, a credit event […]
The Behavioural Approach and its application in Management field
The Behavioural Approach came into existence during early twentieth century as a response to the then much discussed about Psychoanalytic theory. Since, Psychoanalytic theory lacked scientific approach and could not be subjected to experimental techniques for making predictions. On the other hand, behaviourists reckoned that different behavioural predispositions can be explained scientifically. Behavioural approaches have […]
Barriers to Effective Managerial Communication
Managers need to interact with each other as well as with their team members on a regular basis not only to get things done effectively but also to ensure peace at the workplace. Effective communication at all levels within an organization helps resolve problems within the desired time frame. Let us go through various barriers […]
Satellite Communication System
Imagine what would our life be without any mode of communication among individuals? The world would have been a dead place where no body could interact with each other or communicate amongst themselves. There would be no knowledge sharing and great ideas could never be implemented. In a layman’s language, communication simply helps in the […]
Sovereignty is a term that is used to refer to the independence and autonomy of modern nation states. Unlike earlier eras where countries were ruled by Kings in historic times and by colonial powers in the 18th and 19th centuries, sovereignty refers to the fact of absolute independence and autonomy that nation states have with respect to the decisions taken by them in matters concerning their citizenry.
Sovereignty means that nation states are free to decide for themselves about the kind of democracy that they want, the kind of rulers that they want, and their policies internally and externally. Often, the concept of sovereignty is invoked to delineate the distinction between taking decisions on their own by nation states and resisting external pressures to sway the decision-making process. In this respect, sovereign nations are expected to be autonomous and independent when they pursue policies that are in their interest and their people’s interest and not according to the dictates of a foreign power.
In recent years, the concept of sovereignty has been debated because globalization means that nation states submit themselves to international treaties and international agreements that are not always in their best interests. This imposes some amount of coercion on the nation states especially in the developing world and hence, globalization has to come to mean imperialism in another form. Since countries like India have had the taste of imperialism by the British, they are understandably reluctant to submit to the dictates of the World Bank, the IMF or the International Monetary Fund, and other international bodies. However, it is also the case that the options are limited as resisting these bodies and the WTO or the World Trade Organization means that the countries miss lucrative trade and export opportunities.
However, the recent economic crisis that started in 2007 has proven that sovereignty of nations being subsumed by international bodies cuts both ways as the global economy is tightly interconnected and hence, cannot be regulated by nations in isolation. On the other hand, the assertiveness of the newly emerging economies like China and India means that there is still a place for nationalistic sovereignty instead of being completely dictated by the West.
Further, the fact that sovereignty means that colonial powers and foreign powers cannot intervene or interfere in the internal affairs of countries is also another indicator that the hard fought victories by the erstwhile colonial states are bearing fruit. This is also a sign of the emergence of postcolonial powers that have come into their own right thanks to a combination of factors some of which would be discussed in subsequent articles.
Finally, the point needs to be made that sovereignty for many countries has come at the expense of countless lives and sacrifices and hence, it is incumbent upon the successive generations to uphold the sovereign principles of freedom, equality, and choice and not to squander away the good work done by the freedom fighters.
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What is Compassionate Capitalism and Why We Need it in These Times of Planetary Crisis ?
February 12, 2025
