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Amartya Sen Definition

Who Is Amartya Sen?

Amartya Sen is an internationally famend economist who at present serves as Professor of Economics and Philosophy at Harvard College. Sen has additionally held positions at many different universities, together with Jadavpur College Calcutta, the Delhi College of Economics, and the London College of Economics, in addition to Oxford College. He’s well-known for his contributions to development economics. In 1998, he was awarded the Nobel Memorial Prize in Economic Sciences.

Key Takeaways

  • Amartya Sen is an economist at present serving as Professor of Economics and Philosophy at Harvard College.
  • He was awarded the Nobel Memorial Prize in Financial Sciences in 1998, for his contributions to improvement economics.
  • One among his central areas of concern is the alleviation of poverty by means of financial improvement.

Understanding Amartya Sen

Born in India in 1933 on a college campus in Bengal, India, Amartya Sen was the son of a chemistry professor and the grandson of a scholar of historical and medieval India. It may very well be stated that maybe Sen was a born educational and scholar, however experiences in childhood might have helped form the course his scholastic achievement took in addressing financial and social inequality. 

As a teenager in 1943, Sen was a witness to the Bengali famine the place three million died. One other incident that will have formed him as a youth was witnessing an impoverished man with a knife in his again through the partitioning of India. It’s seemingly that these and different experiences helped to form his scholarship and his many pursuits into the character of the human expertise and make life higher for its poorest residents. 

Sen earned an undergraduate diploma from Presidency School at Calcutta earlier than attending the College of Cambridge for a further BA, then stayed on there to accumulate a Grasp’s diploma and a PhD within the self-discipline. A Trinity School fellowship adopted, and at present, Sen teaches at Harvard however has extra honorary and visitor educating posts in universities throughout america, the UK, and India. He has been referred to as “the consciousness of the career” of economics.

In 1981 he printed a seminal guide referred to as Poverty & Famines: An Essay on Entitlement and Deprivation, however it was to be the primary of many writings that Sen has undertaken in his profession. Since then, Sen has been a famous creator of many books on welfare economics, improvement economics, and different topics. Further areas of analysis embody social alternative principle, public well being, financial measurement, rationality and financial conduct, financial methodology, gender research, ethical and political philosophy, and the economics of struggle and peace.

Amartya Sen’s Concepts

One notable instance of Amartya Sen’s concepts is the potential strategy to improvement economics, to which he was a serious contributor.

The potential strategy is a theoretical framework that has helped inform efforts to advertise financial improvement and poverty alleviation. Along with its educational curiosity, the potential strategy has knowledgeable the creation of latest statistical indices that assist governments and policymakers to trace the well-being of residents in a extra strong and applicable method. 

For instance, the potential strategy contributed to the creation of the Human Development Index (HDI), a composite measure of life expectancy, per-capita income, and schooling that’s used to estimate the financial improvement of societies. HDI can be utilized alongside conventional financial measures akin to Gross Domestic Product (GDP) to supply a extra nuanced and full perspective on the financial well-being of a nation. Different indices, such because the Inequality-adjusted Human Growth Index (IHDI), have constructed upon this basis and additional developed the concepts of the potential strategy.

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