Amartya Sen, the distinguished Indian economist was born on 3rd November 1933 in the campus of Shantiniketan. He made the country proud by winning the Nobel Prize in 1998 for Welfare Economics. Amartya Sen has made remarkable contribution to the world of economics. His works on famine, human development theory, the underlying mechanism of poverty, and political liberalism has enriched the treasure of economics and also have various uses in the modern society.
Personal Life and Educational Background
The very talented economist embarked on his educational journey with St. Gregory’s School. After his family migrated from Dhaka he studied at Shantiniketan followed by Presidency College where he completed his graduation. The name “Amartya” given by Rabindranath Tagore means “immortal”. In keeping with the immortality of his name Sen reached the heights of fame through his valuable contribution in economics.
Sen moved on to Trinity College, Cambridge where he earned a first class BA and Ph d. in 1959. He also dabbled in philosophical issues while he was at the college.
Professional Career of Sen
He started off his career as a teaching faculty in Calcutta University. Sen had also been a professor at the Jadavpur University from 1956-58, Cambridge University during 1957-63, Delhi School of Economics from 1963-71, London School of Economics from 1971-77, Oxford University from 1977-88, Harvard University from 1988-98, again Cambridge University from 1998-2004 and finally got back to Harvard University in 2004. Amartya Sen happens to be the first Asian Professor to teach at the trinity college. He also presides the organization called OXFAM.
Theories Propounded by Sen
Sen’s primary interest developed in fields of Economics, Decision Making and Philosophy. He pursued his research on Welfare Economics, Theory of Measurement, Development, Public Health, the Economics of war and Peace and Gender Studies.
He received the Nobel Prize for his study in Welfare Economics and the poorest member of the society. His research about the causes of famine and the remedies provided by him to prevent shortage of food has found practical implementation. The novel concept of ‘capability’ propounded by Sen for welfare economics argues that government should be measured against the concrete capabilities of their citizens. According to Sen there should not be any hypothetical capabilities. Rights have to be defined so that citizens can appropriate their rights to the full extent. Welfare economics would formulate policies, which will ensure the well being of the society. He devised certain policies, which would yield useful remedies for improving the condition of the poor. His research also provides information on the lower rate of women employment and sought to explain why was it so. His papers influenced the international organizations that dealt in food crises. Sen also sought to explain the reason behind famine, as he believed that in democratic countries famines do not occur frequently. Sen believed that states have an active role to play as far as the economy is concerned.
Awards Received by Sen
Amartya Sen had received many awards for his contribution towards welfare economics. They are:
The Nobel Prize in Economics for his work in Welfare Economics in1998.
The Bharat Ratna in 1999
He received an honorary citizenship from the Bangladesh Government in 1999.
Leontef Prize from the Global Development and Environment Institute for his outstanding contribution towards Economics in 2000.
The International Humanist Award from the International Humanist and ethical Union in 2002
Eisenhower Medal for Leadership and Service USA in 2000
Companion of Honor in 2000
The Indian chamber of Commerce conferred up on him the Lifetime Achievement Award in 2003
Lifetime Achievement Award from the UNESCAP
Major Publications:
Among his major publications are:
Identity and Violence published in 2006
Inequality Reexamined published in 2004
Development as Freedom published in 2000
The Argumentative Indian published in 2005
Reason Before Identity published in 1999