What Other Factors Does Sen 's Thinking Should Be Raised With More Than Just Economic Development?
The Nobel Prize-winning economist Amartya Sen argues that the concept of development should be broadened to include more than just economic development.
a. What other factors does Sen’s thinking should be included in an assessment of development? b. How might adoption of Sen’s views influence government policy?
a. What other factors does Sen’s thinking should be included in an assessment of development?
Amartya Sen is a well-known economist who was awarded with the Nobel memorial prize in economic sciences in 1998. He is also among the strongest leaders of rationalism, secularism, and egalitarianism. He contributed in many economic areas such as welfare economics, economic theories of famines, social choice theory, economic and social justice, and indexes of the measure of wellbeing of developing countries.
Sen classified development into conventional approach of development which involves output growth per head, and his fundamental view of development which is expanding human freedom. He states two differences between conventional approach and his expanding human freedom approach, since freedom is concerned with processes of decision-making as well as opportunities to achieve valued outcomes, the foundational approach cannot be confined to outcomes: processes such as…