Question no 1
*Prof. Amartya Sen.
was born in 1933 in Santiniketan, India. His early education was deeply influenced
by his school's founder, Rabindranath Tagore. In 1998, Professor Sen became the first Indian and
the first Asian to win the Nobel Prize in Economics; he 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.
What development Economics?
Development is branch of economics which is the study of
economic aspect of the development process
when growth takes place, development is it's outcome during a development process a country might
experience changes in its socio economic and political angles. Development mainly focuses on the
economic phases. Economic development means the transformation of an economy from a low per
capital income to a high income ensuring decent living standard for all citizens . The work of
development economics is to understand the process of long term growth on and side and coexisting
structural and institutional changes on the other side.
*Traditional approach towards Development Vs Ammartya sen Approach.
The greater part of the world is getting a charge out of the best way of life, the best riches, and
the best opportunity to carry on with important and significant existences of whenever in
mankind's history. And yet immense quantities of individuals are carrying on with lives of
distinct hardship which are made much all the more shocking by the differentiation.
Undoubtedly, it is the perspicuous complexity between the personal satisfaction open to certain
individuals yet not others that both characterizes and censures destitution in the contemporary
world: neediness is a pointless condition of hardship that can and ought to be cured. In the
helpless world the overall term for the expulsion of dug in hardship is 'improvement'. Also,
remediable hardship exists not just in faraway spots with little economies, outfitted clashes, or
government restraint, yet likewise inside the rich world, with its destitute, jobless, debilitated,
and socially avoided or trashed. Hardship can exist together with extraordinary lavishness. For
example, even in a moderately rich nation with a successful government assistance state, where
earnest and clear human physiological needs are to a great extent met, there might be a lot of