Sen Finance Econf

Sen Finance Econf

“`html

Sen’s Capabilities Approach: Expanding Economic Evaluation

Amartya Sen’s influence on economics extends far beyond traditional growth metrics. He championed a profound shift in how we understand and evaluate economic development, emphasizing the importance of human well-being and individual freedoms, encapsulated in his “capabilities approach.” This framework moves beyond solely focusing on income or utility as measures of success, instead prioritizing what people are actually able to do and be.

At its core, the capabilities approach argues that economic evaluation should center on individuals’ capabilities – the real opportunities they have to achieve functionings they value. Functionings are defined as “beings and doings,” encompassing aspects like being adequately nourished, healthy, educated, able to participate in political life, and respected within their community. A person’s capability set represents the range of functionings they can realistically achieve, given their resources, social circumstances, and personal characteristics.

Sen distinguishes between resources, functionings, and capabilities. Resources, like income, are only valuable insofar as they enable people to achieve desired functionings. Two individuals with the same income may have vastly different capabilities due to factors like disability, social discrimination, or access to healthcare. Thus, focusing solely on income or GDP provides an incomplete picture of societal progress. He argued that judging a society solely on aggregate utility (happiness) can also be misleading because individuals may adapt their expectations and desires to oppressive conditions, leading to a falsely inflated perception of well-being.

The implications of the capabilities approach are far-reaching. It provides a stronger foundation for evaluating social justice and addressing inequality. By focusing on capabilities, we can identify and address the specific barriers that prevent individuals from achieving their potential. This includes considering issues like access to education, healthcare, political participation, and freedom from discrimination. The approach acknowledges that individuals have diverse values and priorities, respecting their autonomy to choose the functionings they deem most important.

The capabilities approach has been applied in diverse fields, including development economics, social policy, and public health. It has informed the development of the Human Development Index (HDI), a composite index that considers life expectancy, education, and income to assess a nation’s progress. It has also been used to analyze the impact of poverty, gender inequality, and disability on individual well-being. Moreover, it provides a compelling framework for evaluating the effectiveness of government policies and programs, ensuring that they truly empower individuals and expand their opportunities.

Sen’s work challenges us to move beyond a narrow focus on economic growth and consider the broader dimensions of human flourishing. By prioritizing capabilities, we can create more just and equitable societies where everyone has the opportunity to live a fulfilling life.

“`

login singapore green finance 490×212 login singapore green finance from www.singaporegreenfinance.com
senate finance committee  senfinance twitter 1280×720 senate finance committee senfinance twitter from twitter.com

singaporean finance stock photo alamy 1300×942 singaporean finance stock photo alamy from www.alamy.com
investor engaged  genuinely sustainable finance swen cp 474×632 investor engaged genuinely sustainable finance swen cp from www.swen-cp.fr

nus sustainable  green finance institute celebrates official launch 1920×1080 nus sustainable green finance institute celebrates official launch from news.nus.edu.sg
singapore sustainable finance forum targets  practice esg investor 1000×666 singapore sustainable finance forum targets practice esg investor from www.esginvestor.net

Sen Finance Econf 800×811 sefinance posted linkedin from www.linkedin.com
asean finance bank chiefs vow  resist protectionism inquirer 1024×794 asean finance bank chiefs vow resist protectionism inquirer from business.inquirer.net

singapore institute  international affairs collaborative initiative 2434×3010 singapore institute international affairs collaborative initiative from www.siiaonline.org
singapore releases finance  net  action plan seneca esg 1400×788 singapore releases finance net action plan seneca esg from senecaesg.com

singapore sets  sustainable finance association  scale  green 0 x 0 singapore sets sustainable finance association scale green from www.channelnewsasia.com
singapores green finance efforts collective actions  drive 1600×900 singapores green finance efforts collective actions drive from www.ecgi.global

singapore green finance centre  linkedin singapore datacentres 800×521 singapore green finance centre linkedin singapore datacentres from www.linkedin.com
singapore green finance centre  linkedin sgfc  sff 1280×720 singapore green finance centre linkedin sgfc sff from www.linkedin.com

singapore green finance centre  linkedin prof winston chow 800×376 singapore green finance centre linkedin prof winston chow from www.linkedin.com
singapore green finance centre  linkedin   corporations 800×450 singapore green finance centre linkedin corporations from www.linkedin.com

singapore green finance centre  linkedin   happy  announce 1200×628 singapore green finance centre linkedin happy announce from www.linkedin.com
singapore green finance centre  linkedin snapshots  day 800×533 singapore green finance centre linkedin snapshots day from www.linkedin.com

senfin securities limited 1562×1562 senfin securities limited from www.facebook.com
southeast finance conference 1800×1800 southeast finance conference from www.facebook.com

senfin asset management bambalapitiya 888×888 senfin asset management bambalapitiya from www.facebook.com
senfin securities 1000×249 senfin securities from senfinsecurities.com

singapore finance minister shares  thoughts  mobile apps youtube 1280×720 singapore finance minister shares thoughts mobile apps youtube from www.youtube.com
senate finance  youtube 1280×720 senate finance youtube from www.youtube.com

singapore  set  sustainable finance association youtube 0 x 0 singapore set sustainable finance association youtube from www.youtube.com
explore singapore financial center ai reviews youtube 1280×720 explore singapore financial center ai reviews youtube from www.youtube.com

news secfin solutions 1657×937 news secfin solutions from secfinsolutions.com
senfin asset management 1440×1440 senfin asset management from www.facebook.com

singapore environment council sec 300×300 singapore environment council sec from www.sec.org.sg
loans sen financial 480×362 loans sen financial from senfinancial.ca