Economic Security

Economic security refers to the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. It encompasses probable continued solvency, predictability of future cash flow, and employment security. The concept of economic security is closely related to the work of economists like Amartya Sen and Joseph Stiglitz. According to the Organisation for Economic Co-operation and Development (OECD), economic security is important for economic growth and development. The International Monetary Fund (IMF) also plays a crucial role in promoting economic security and stability globally. The United Nations reported that economic security is essential for achieving the Sustainable Development Goals (SDGs) in 2019.