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Amartya Sen and the Revival of Ethical Tradition in Economics

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  • Farah Naz

    (University of Sargodha)

Abstract

Much of the twentieth century debate regarding economics revolved around the contested roles of the state and the market. The outcome of this debate largely deprived economics of the moral compass that was once one of its hallmarks. In this regard, Sen made a significant contribution in placing ethics back into the theory of economics by focusing his work on the long-neglected relationship between the two subjects and challenging the philosophical foundations of traditional economic theory, arguing that although, in principle, economic behaviour and moral disposition might be separated, in practice, both are deeply intertwined. Ethical concerns inevitably infiltrate even a good deal of positive and normative economics. In recent years, there has been a call from within economics to humanize economics by reviving its ethical tradition. Consequently, the moral dimensions of economic life are now subject to reflection and constant negotiation. This reinterpretation may deal with overall economic relations or it could be related to one specific aspect. The former focuses on reviving the economic system as a whole while the latter aims to improve the system by focusing on existing limitations. In examining the relationship between economics and philosophy, this paper draws on one of the principal areas of Sen’s economic research, the capability approach, to explore how Sen’s ethical philosophy delineates engagement between economics and moral philosophy.

Suggested Citation

  • Farah Naz, 2021. "Amartya Sen and the Revival of Ethical Tradition in Economics," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(4), pages 393-402, December.
    • Handle: RePEc:kap:atlecj:v:49:y:2021:i:4:d:10.1007_s11293-022-09737-6
    DOI: 10.1007/s11293-022-09737-6
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    1. Cyril Hédoin, 2018. "Philosophy and Economics: Recent Issues and Perspectives. Introduction to the Special Issue," Revue d'économie politique, Dalloz, vol. 128(2), pages 177-189.
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    5. Martha Nussbaum, 2003. "Capabilities As Fundamental Entitlements: Sen And Social Justice," Feminist Economics, Taylor & Francis Journals, vol. 9(2-3), pages 33-59.
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