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According to Prof. Goulet, at least three basic components as core values should serve as a conceptual basis and practical guidelines for understanding the "inner" meaning of development. These core values - sustenance, self-esteem, and freedom - represent common goals sought by all individuals and societies'? They relate to fundamental human needs that find their expression in almost all societies and cultures at all times.

Sustenance:

The life-sustaining basic human needs include food, shelter, health and protection. When any one of these is absent or in critically short supply, a condition of absolute "underdevelopment" exists.

Self-esteem:

A second universal component of good life is self- esteem- a sense of worth and self-respect- of not being used as a tool by others for their own ends. Due to the significance attached to material values in developed nations, worthiness and esteem are now-a-days increasingly conferred only on countries that possess economic wealth and technological power- those that have developed.

Now-a-days the Third World seeks development in order to gain the esteem which is denied to societies living in a state of disgraceful "underdevelopment." ... Development is legitimized as a goal because it is an important, perhaps even an indispensable, way of gaining esteem.6

Freedom from Servitude:

Arthur Lewis stressed the relationship between economic growth and freedom from servitude when he concluded that "the advantage of economic growth is not that wealth increases happiness, but that it increases the range of human choice." Wealth can enable a person to gain greater control over nature and his physical environment than they would have if they remained poor.

It also gives them the freedom to choose greater leisure. The concept of human freedom should encompass various components of political freedom, freedom of expression, political participation and equality of opportunity.

It is interesting to note that some of the most notable economic success stories of the 1970s and 1980s (Saudi Arabia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Turkey and China among others) did not score highly on the 1991 Human Freedom Index compiled by the United Nations Development Programme (UNDP).

Regards !

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Waqar Paracha

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Q: Core Values of Economic Development
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