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Economic Growth according to Sen Amartya Theory of Capabilities

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Economic Growth according to Sen Amartya Theory of Capabilities

The capability approach brings a different perspective on the definition of economic development. According to the theory, people are born with different characteristics that affect the ability to learn and be productive. The theory further explains that people derive satisfaction from the consumption of a variety of private goods and services. The approach also acknowledges that human beings are social creatures and experience satisfaction or dissatisfaction from their positions among social groups (Todaro, Stephen). The government can satisfy or dissatisfy and individual with how it provides its services to the public. This is because the government is tasked with the responsibility of acting on behalf of its citizens. Sen’s theory of capabilities associates wellbeing to the individual’s ability acquired from birth and their involvement in social groups.

The theory explains the role of individual and social capabilities in economic growth. According to the approach, people are born with certain features that are uniquely specific to each individual. These features include raw aptitude, permanent abilities, learning abilities, physical strengths, and endures. They vary among people giving a person an advantage over another. They also affect a person’s productivity, which influences economic development. The theory also elaborates on how families and exposure to certain environmental conditions such as pollution can contribute to abilities that a child is born with, which later affects their productivity in life. Social organization results in economic development through specialization. A social group is, for instance, composed of people with different capabilities relative to other people among the group. Bring this group of individuals together enable them to focus on what each individual is good at and consume other goods and services from others with different abilities. It is through this process of exchange that the economy develops.

Sen’s theory is criticized for attributing wellbeing to born abilities. This differs from the conventional way of thinking in that people may not be taken with particular skills, but exposure can acquire such skills. The theory is considered vague as it is too complex to operationalize. The approach is also considered too individualistic and fails to recognize that people’s abilities are codependent—group membership not been given much emphasis on its contribution to individual welfare. Groups have a fundamental impact on an individual since they enable the sharing of resources and ideas which can contribute better to an individual’s living standards. ( Todaro, Stephen ) The theory does not provide a level of inequality that is justifiable in explaining individual capabilities.

The theory of capabilities has been used to develop an understanding of economic development. The theory explains the contribution of individual ability and group membership to personal welfare. Sen goes further to elaborate on how unique skills can influence a person’s spending habits. For instance, group, membership is one of the ways that can encourage an individual to focus their efforts on producing what they are good at. The individual can buy what they are unable to provide from other people hence promoting economic development. The theory also goes further to explain how human beings derive satisfaction or dissatisfaction from the consumption of private goods and services. Just like any other theory, Sen’s theory faces criticism as it is considered vague and too complex to operationalize. However, the theory is regarded as the right approach in explaining economic development on a personal and individual level.

 

 

 

Todaro, Michael P., and Stephen C. Smith. “Economic development.” Ed. Reino Unido: Addison Wesley (2003).Print.

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