Such rights, especially freedom of the press, speech, assembly, and so forth increase the likelihood of honest, clean, good government.
In winning the Nobel prize, Sen was praised by the Swedish Royal Academy of Sciences "for his contributions to welfare economics" and for restoring "an ethical dimension" to the discussion of vital economic problems.Īccording to Sen, development is enhanced by democracy and the protection of human rights.
He is both the first Indian and the first Asian to win the Nobel prize for economics. But let’s first have a look at Sen’s views. It is of course nice to hear an economist discussing such issues, rather than reciting equations. According to 1998 Nobel prize winner, Amartya Sen, freedom is both the primary objective of development, and the principal means of development. Into his analysis Sen allows economics once again, as it did in the time of Adam Smith, to address the social basis of individual well-being and freedom.Over the centuries, there have been very many theories of development. By asking 'What is the relation between our collective economic wealth and our individual ability to live as we would like?' and by incorporating individual freedom as a social commitment Values, institutions, development, and freedom are all closely interrelated, and Sen links them together in an elegant analytical framework. Social institutions like markets, political parties, legislatures, the judiciary, and the media contribute to development by enhancing individual freedom and are in turn sustained by social values.
The main purpose of development is to spread freedom and its 'thousand charms' to the unfree citizens.įreedom, Sen persuasively argues, is at once the ultimate goal of social and economic arrangements and the most efficient means of realizing general welfare. Even if they are not technically slaves, they are denied elementary freedoms and remain imprisoned in one way or another by economic poverty, social deprivation, political tyranny or cultural authoritarianism. In Development as Freedom Amartya Sen explains how in a world of unprecedented increase in overall opulence millions of people living in the Third World are still unfree.
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