Suchergebnisse

Sen's capability approach emphasizes the importance of freedom and choice in leading the life that one values. In the capability approach, a person converts the vector of commodities into functionings. This conversion depends upon personal, social and environmental factors. These conversion factors are important because they constrain the capability achievement of individuals, a matter that is especially important for the poor. Using the case of a credit cooperative in Malaysia, this article seeks to demonstrate the importance of conversion factors and how it is possible to improve the capabilities of the poor.

The economic crisis that began in the United States had an effect on the developed world, including the European Union, Japan, and Singapore. The downturn of the economy in the United States, coupled with developments in the European Union, Japan, and Singapore, has affected the Malaysian economy. This paper argues that Malaysia, being a small open economy with a strong export-dependent manufacturing sector, was particularly vulnerable to the global crisis. The very countries that generate the demand for Malaysian exports have been struck by the crisis, leading to declines in output in Malaysia. These declines have resulted in labor market shocks which have led to retrenchments. The severity of the crisis and its prolonged duration requires an approach that is not unduly dependent on export-led growth. This paper will suggest that Malaysia adopt a rebalancing strategy in response to the current crisis.