Paper short abstract:

Peace is a big issue in the global economy. This study makes an attempt to find out new avenues to broaden the basis for human rights and to show the role of law.

Paper long abstract:

At present, peace has become an intricate global problem. Some nations have entangled in war nets; some have faced to ethnic crises; and some others have internal defense problems. Some societies produce unnecessary goods such as explosives and missiles. Consequently, the economies and ethnic groups live in fear. It seems that framework for human rights needs to be reviewed. This paper makes an attempt to fill this gap by examining the some fundamental or generic characteristics of the human being. The study shows that rather than non-human lives such as animals, the human life is highly competitive and interdependent. Human being is competitive in almost all activities such as production, consumption and sexual behaviour. In economics, 'perfect competition' is considered to be most welfare-friendly form of the market. Moreover, since Aristotle many economies proceeded with competition friendly and widely accepted theories (or concepts) such as division of labor and comparative advantage etc. Thus, both man and societies are interdependent. These theories or concepts say that 'man needs the man'. Single group or a society or a nation cannot survive in the globe. Therefore, it is a basis for protection of human rights. However, competition and interdependence among people or nations at the same time is mutually incompatible. That is a situation we need the law. At international level, to make competition and interdependence compatible, competition needs to be incorporated with consensuses. By so doing, rights of the nations can be protected.