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Sen after Putnam

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  • Vivian Walsh

Abstract

Modern classical economic theory, originally austere and minimalist (as in Sraffa and Neumann), has entered a second, more enriched phase. Inspired by Adam Smith, Amartya Sen has drawn out the moral implications of formal classical models. But Sen remains open to neoclassical attack on the grounds that science must be value free. In his book The Collapse of the Fact/Value Dichotomy and Other Essays , Hilary Putnam rebuts the view that "fact is fact and value is value and never the twain shall meet". This paper explores consequences of this argument for classical theory. It explains the nature and significance of the entanglement of facts, analysis and values; and the impact of this entanglement on the concept of rationality, on capability theory, on the relationship between human needs and Sraffa basics, on Pasinetti's transformational growth, and on Sen's analysis of the disabled and most wretched. Supporting Sen's approach to human development, it opens the possibility of an enriched classical analysis, which can absorb Martha Nussbaum's analysis of tragedy using a logically and morally coherent political economy.

Suggested Citation

  • Vivian Walsh, 2003. "Sen after Putnam," Review of Political Economy, Taylor & Francis Journals, vol. 15(3), pages 315-394.
  • Handle: RePEc:taf:revpoe:v:15:y:2003:i:3:p:315-394
    DOI: 10.1080/09538250308434
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    Citations

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    Cited by:

    1. Pier Luigi Porta, 2013. "What remains of Sraffa's economics," Working Papers 242, University of Milano-Bicocca, Department of Economics, revised May 2013.
    2. Syrquin, Moshe, 2010. "Kuznets and Pasinetti on the study of structural transformation: Never the Twain shall meet?," Structural Change and Economic Dynamics, Elsevier, vol. 21(4), pages 248-257, November.
    3. Martins, Nuno Ornelas, 2021. "The economics of biodiversity: Accounting for human impact in the biosphere," Ecological Economics, Elsevier, vol. 189(C).
    4. Greaker, Mads & Stoknes, Per Espen & Alfsen, Knut H. & Ericson, Torgeir, 2013. "A Kantian approach to sustainable development indicators for climate change," Ecological Economics, Elsevier, vol. 91(C), pages 10-18.
    5. Nuno Ornelas Martins, 2013. "Classical Surplus Theory and Heterodox Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1205-1231, November.
    6. Nuno Ornelas Martins & Américo Mendes, 2012. "Social Exclusion of Immigrants from a Capability Perspective: The Case of Portugal," Chapters, in: Roberta Capello & Tomaz Ponce Dentinho (ed.), Globalization Trends and Regional Development, chapter 10, Edward Elgar Publishing.
    7. Ballet, Jérôme & Koffi, Jean-Marcel & Pelenc, Jérôme, 2013. "Environment, justice and the capability approach," Ecological Economics, Elsevier, vol. 85(C), pages 28-34.
    8. Kenji Mori & Shintaro Tamate, 2014. "Pasinetti after Sen: Towards a Capability Approach to Structural Dynamics of Consumption," Metroeconomica, Wiley Blackwell, vol. 65(4), pages 690-716, November.
    9. Martins, Nuno Ornelas, 2016. "Ecosystems, strong sustainability and the classical circular economy," Ecological Economics, Elsevier, vol. 129(C), pages 32-39.
    10. Gasper, D.R., 2007. "Problem- and policy-analysis for human development," ISS Working Papers - General Series 18743, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    11. Jérôme Ballet, 2019. "Evaluative judgments between positive and normative: For an axiological economy," Cahiers du GREThA (2007-2019) 2019-01, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    12. Amartya Sen, 2008. "The Discipline of Economics," Economica, London School of Economics and Political Science, vol. 75(300), pages 617-628, November.
    13. repec:hal:journl:dumas-00906152 is not listed on IDEAS
    14. Erasmo, Valentina, 2021. "Female economists and philosophers’ role in Amartya Sen’s thought: his colleagues and his scholars," MPRA Paper 105769, University Library of Munich, Germany.
    15. Yoann Verger, 2018. "First steps for a Sraffian ecological economics. An answer to Martins' “The Classical Circular Economy, Sraffian Ecological Economics and the Capabilities Approach”," Working Papers hal-01700228, HAL.
    16. Clifford Poirot, 2008. "Is Pragmatism Good for Anything? Towards a Theory of Impractical Economics," Forum for Social Economics, Taylor & Francis Journals, vol. 37(1), pages 61-76, January.
    17. Amartya Sen, 2005. "Walsh on Sen after Putnam," Review of Political Economy, Taylor & Francis Journals, vol. 17(1), pages 107-113.
    18. repec:wea:econth:v:1:y:2012:i:1:p:7 is not listed on IDEAS
    19. Alvey, James E., 2005. "Overcoming Positivism In Economics: Amartya Sen'S Project Of Infusing Ethics Into Economics," Discussion Papers 23702, Massey University, Department of Applied and International Economics.
    20. Roberta Capello & Tomaz Ponce Dentinho (ed.), 2012. "Globalization Trends and Regional Development," Books, Edward Elgar Publishing, number 14815.

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