Economic security of European countries: problems and solutions
Economic Security: This type of security relates to the maintenance and development of the
national economy. It is the ability of the individuals, households or communities to cover their
essential needs sustainably and with dignity. This can vary according to an individual’s physical
needs, the environment and prevailing cultural standards. Food, basic shelter, clothing and
hygiene qualify as essential needs, as does the related expenditure; the essential assets needed
to earn a living, and the costs associated with health care and education also qualify. A welfare
state is a state that is committed to providing basic economic security for its citizens by
protecting them from market risks associated with old age, unemployment, accidents, and
sickness.it is the resilience of the systems that provide a nation with a basic standard of living.
Following are the common types of economic security:
WATER SECURITY:
A resilient system that encompasses the wellbeing of human and sustainability of economic
production. It also involves the emerging risk of water pollution, issues that emanate from
water like floods and disasters.
FOOD SECURITY:
Food is indispensable for the sustainability of life on earth; food security primarily deals with
the availability of nutritious food, adequate supply and management of risk such as risk of
supply chain disruption in a community. This ensures the smooth functioning of community
pertaining to trade.
AIR QUALITY:
The quality of air is prerequisite for the ecosystem and ensuring the less emission of carbon into
it.
ENERGY SECURITY:
Energy security such as a local system of distributed electricity production based on renewable
energy. Provision of electricity by the state to its people, it also includes the mechanism of
renewable energy.
SHELTER:
The obligations of providing shelter in which every citizen has access to shelter that is better
enough and resilient to withstand fire, earthquake and flood.
HYGIENE:
To ensure the availability of hygiene and averting the potential threat to it. Management of risk
to hygiene such as disaster.
BASIC INCOME:
Social program whereby provision of livelihood and a livable sum of money is available to all.
PUBLIC SERVICES:
Provision of basic services such as healthcare.
EMPLOYMENT:
Economic system in which provision of stable employment is ensured
TRANSPORT:
The availability of transportation or mean of transportation to urban environment
ECONOMIC STABILITY:
Managing the risk of an economic failure and cushioning the downturn in economy like
recession and inflation.
WEALTH, DEBT & LIQUIDITY:
The ability of a country to ensure that its region, city, community, individual or family meets its
fixed expenses in the short and long term
FINANCIAL STABILITY:
