Amartya Sen

Definition

Amartya Sen is an Indian economist and philosopher known for his work on welfare economics, social choice theory, and development economics. His ideas have significantly influenced the ethical frameworks in business anthropology by emphasizing the importance of human capabilities and the need to focus on enhancing individual well-being rather than merely economic growth.

5 Must Know Facts For Your Next Test

1. Amartya Sen was awarded the Nobel Prize in Economic Sciences in 1998 for his contributions to welfare economics and social choice theory.
2. Sen argues that true development should focus on expanding people's capabilities, allowing them to lead lives they have reason to value.
3. His work critiques traditional measures of economic success, such as GDP, suggesting they often overlook issues like poverty, inequality, and human well-being.
4. Sen's Capability Approach has been instrumental in shaping policies aimed at improving education, health care, and social safety nets in developing countries.
5. His ideas have led to greater emphasis on participatory development practices that consider the voices and needs of marginalized communities.

Review Questions

• How does Amartya Sen's Capability Approach influence ethical considerations in business anthropology?
  • Amartya Sen's Capability Approach emphasizes the importance of focusing on what individuals can achieve in their lives. This perspective influences ethical considerations in business anthropology by encouraging businesses to prioritize human well-being over mere profit maximization. By considering the capabilities of all stakeholders, businesses can create more equitable practices that support community development and address inequalities.
• In what ways does Sen's critique of GDP as a measure of success align with the goals of ethical frameworks in business anthropology?
  • Sen critiques GDP as a measure of success because it fails to account for well-being, inequality, and quality of life. This aligns with ethical frameworks in business anthropology that advocate for a broader understanding of success beyond financial metrics. By promoting measures that consider social justice and human welfare, businesses can align their goals with the ethical imperatives highlighted by Sen’s work.
• Evaluate how Amartya Sen’s ideas on social justice could reshape business practices towards more ethical standards.
  • Amartya Sen's ideas on social justice advocate for equitable resource distribution and addressing inequalities within societies. Businesses could reshape their practices by adopting policies that prioritize fair labor practices, environmental sustainability, and community engagement. Implementing these ethical standards not only enhances a company’s social responsibility but also aligns business operations with a vision of inclusive growth, ensuring that all stakeholders benefit from economic activities.

Related terms

Capability Approach: A theoretical framework developed by Amartya Sen that focuses on what individuals are able to do and to be, highlighting the importance of enhancing people's capabilities to achieve well-being.

Human Development Index (HDI): An index created by the United Nations that measures a country's average achievements in health, education, and income, reflecting Sen's emphasis on broader measures of development beyond economic indicators.

Social Justice: A concept that advocates for the fair distribution of resources, opportunities, and privileges within a society, which aligns with Sen's views on equity and ethics in economic policies.