Sem 5 Introductory Development Economics | Sec 1.5 Ch1 | Todaro & Smith | Amartya Sen's Functioning

Summary

In this insightful session, the speaker introduces Amartya Sen, a Nobel laureate economist, emphasizing his groundbreaking work on development and capability deprivation. Sen argues that income and wealth are not ends but means to achieve goals, and poverty should be viewed as a lack of capability to perform desired actions. The speaker illustrates this with examples of how the same commodity can serve different purposes for different individuals. The concept of 'functioning,' what a person can do with resources, is highlighted, distinguishing between simple and complex functionings. The session concludes with a thought-provoking homework question about personal functionings one would achieve with income.

Takeaways

• 😀 Amartya Sen is a highly respected economist known for his work in development and winning the 1998 Nobel Prize in Economics.
• 🎓 Sen completed his PhD in an unusually short time of one year, highlighting his intellectual prowess.
• 🌟 The speaker had a memorable experience meeting Sen and listening to his insights at a seminar.
• 💭 Sen's perspective is that income and wealth are not ends in themselves but means to achieve other ends.
• 🏆 Sen argues that poverty should be viewed as a form of capability deprivation, not just a lack of income.
• 🚀 The concept of 'functioning' introduced by Sen refers to what a person can do with the commodities they possess.
• 🍲 Sen uses the example of food to illustrate how the same commodity can have different utilities for different people based on their health or literacy.
• 🌱 Functionings are categorized into simple ones like nourishment and education, and complex ones like self-respect and community participation.
• 📚 The speaker encourages the audience to consider their top three functionings they would like to achieve with their income as a homework task.
• 🌐 Sen's ideas challenge conventional understandings of poverty and wealth, emphasizing the importance of capabilities and freedoms.

Q & A

Who is Amartya Sen according to the speaker?

Amartya Sen is described as an eminent personality, a renowned Economist in the field of development, who completed his PhD in one year and was the winner of the 1998 Nobel Prize in Economics.

What is the speaker's personal experience with Amartya Sen?

The speaker had the chance to meet Amartya Sen personally and listen to him in a seminar at the Delhi School of Economics, which was an amazing experience.

What does Amartya Sen believe about the concept of income and wealth?

Amartya Sen believes that income and wealth are not ends in themselves but are means to achieve something else. They are instrumental for other purposes.

How does the speaker illustrate the importance of the timing of acquiring wealth?

The speaker uses the example of a car, explaining that having a car in college life allows for adventures and enjoyment, whereas having the same car at the age of 40 might only provide comfort and utility for family use.

What is the conventional understanding of poverty that Amartya Sen challenges?

The conventional understanding of poverty is the lack of income, but Amartya Sen challenges this by suggesting that poverty should be seen as a capability deprivation.

What does 'capability deprivation' mean in the context of Amartya Sen's work?

Capability deprivation refers to the inability to do what one wants to do, which defines a person as poor if they lack certain essential freedoms or opportunities.

How does Amartya Sen define poverty in terms of functioning?

Amartya Sen defines poverty as a deficiency of capability and lack of freedom, where poverty is not just about the lack of income but also about the inability to achieve desired functioning in life.

What is the difference between simple and complex functionings according to the speaker?

Simple functionings are basic needs like nourishment and education, while complex functionings are more abstract concepts like self-respect and being part of a community.

What is the significance of the example of a book given to a literate and illiterate person?

The example illustrates that the same commodity can have different uses and values depending on the consumer's capabilities, emphasizing the importance of the individual's ability to utilize resources.

What homework does the speaker assign to the audience?

The speaker assigns the audience to think about their top three functionings they would like to achieve with their income.

What does the speaker emphasize as the key takeaway from Amartya Sen's perspective on economics?

The speaker emphasizes that the key takeaway is understanding that economic measures like income and wealth are means to achieve various functionings in life, and that poverty is more about capability deprivation than just a lack of income.