The concept centers on the ability of individuals to control their economic destinies. This involves access to and control over resources, participation in markets, and the capacity to make informed economic decisions. For example, an individual gains economic power by acquiring skills that lead to employment, starting a business, or managing personal finances effectively.
Significantly, this fosters independence, reduces vulnerability, and promotes social inclusion. Historically, limited access to resources and opportunities has disproportionately affected certain groups. Addressing these disparities through targeted initiatives can lead to more equitable and sustainable economic growth for communities and nations.
