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Category Archives: Economy and Business
The fetish for gdp growth has led the world to the brink of environmental and social disasters. There is opulence and poverty side by side. Countries need to evolve right indicators of development that pay attention to things other than economic. Continue reading
The capability approach of Amartya Sen puts people at the focus of development; not economy. Since it revolves around expanding people’s capabilities, it recognizes all factors – personal, psychological, social, political, environmental etc – that can possibly affect people’s capability to … Continue reading
Farmers are committing suicide because agriculture sector contributes only around 15 percent towards the GDP. Continue reading
The idea that “development” only means economic growth is a faulty one. This narrow thinking is behind all ills of the world today – global warming and climate change are just the logical byproducts. Professor Amartya Sen theorizes that “real development” is development of people’s capabilities. Continue reading
The capabilities approach of Amartya Sen sees development as expansion of people’s capabilities. Poverty, in this approach, is taken as deprivation of basic capabilities needed to live a tolerable life. Continue reading
Amartya Sen’s capability theory offers a comprehensive approach to development which puts people at the center of attention. Development is not just economic growth or industrialization and people are not mere tools to achieve it. Continue reading