Amartya Sen in the context of "Development economics"

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⭐ Core Definition: Amartya Sen

Amartya Kumar Sen (Bengali: [ˈɔmortːo ˈʃen]; born 3 November 1933) is an Indian economist and philosopher. Sen has taught and worked in England and the United States since 1972. In 1998, Sen received the Nobel Prize in Economic Sciences for his contributions to welfare economics. He has also made major scholarly contributions to social choice theory, economic and social justice, economic theories of famines, decision theory, development economics, public health, and the measures of well-being of countries.

Sen is currently the Thomas W. Lamont University Professor, and Professor of Economics and Philosophy, at Harvard University. He previously served as Master of Trinity College at the University of Cambridge. In 1999, he received India's highest civilian honour, Bharat Ratna, for his contribution to welfare economics. The German Publishers and Booksellers Association awarded him the 2020 Peace Prize of the German Book Trade for his pioneering scholarship addressing issues of global justice and combating social inequality in education and healthcare.

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Amartya Sen in the context of Housing inequality

Housing inequality is a disparity in the quality of housing in a society which is a form of economic inequality. The right to housing is recognized by many national constitutions, and the lack of adequate housing can have adverse consequences for an individual or a family. The term may apply regionally (across a geographic area), temporally (between one generation and the next) or culturally (between groups with different racial or social backgrounds). Housing inequality is directly related to racial, social, income and wealth inequality. It is often the result of market forces, discrimination and segregation.

It is also a cause and an effect of poverty. Residential inequality is especially relevant when considering Amartya Sen's definition of poverty as "the deprivation of core capabilities".

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Amartya Sen in the context of Human Development Report

The Human Development Report (HDR) is an annual Human Development Index report published by the Human Development Report Office of the United Nations Development Programme (UNDP).

The first HDR was launched in 1990 by the Pakistani economist Mahbub ul Haq and Indian Nobel laureate Amartya Sen. Since then reports have been released most years, and have explored different themes through the human development approach, which places people at the center of the development process.

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Amartya Sen in the context of Capability approach

The capability approach (also referred to as the capabilities approach) is a normative approach to human welfare that concentrates on the actual capability of persons to achieve lives they value rather than solely having a right or freedom to do so. It was conceived in the 1980s as an alternative approach to welfare economics.

In this approach, Amartya Sen and Martha Nussbaum combine a range of ideas that were previously excluded from (or inadequately formulated in) traditional approaches to welfare economics. The core focus of the capability approach is improving access to the tools people use to live a fulfilling life. Hence, the approach has a strong connection to intragenerational sustainability and sustainability strategies.

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Amartya Sen in the context of Ease of doing business index

The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group, following the release of World Development Report 2002. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl (Dr. Pohl was the longtime director of private sector development within the Europe and Central Asia unit). Higher rankings (a low numerical value) indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Other researchers find that the distance-to-frontier measure introduced in 2016 after a decision of the World Bank board is not correlated with subsequent economic growth or investment.

"World Development Report 2002", the basis of the research behind Doing Business, analyzes how to build effective institutions. In understanding what drives institutional change, the report emphasizes the importance of history, highlighting the need to ensure effective institutions through a design that complements existing institutions, human capabilities, and available technologies. The study was guided by Joseph Stiglitz and Roumeen Islam with principal authors Simeon Dyankov and Aart Kraay. Several background papers, including by Nobel Prize winners Robert Shiller, Amartya Sen and Gabriel García Márquez, were published in academic journals or books.

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