 The ethics of capabilities. Chapter 6 in Why Ethical Behaviour is Good for the Economy, 2020, pp 112-131 from Edward Elgar Publishing Abstract: Sen’s capabilities approach to analysing economic development and individual wellbeing are critically assessed in the context of how economic welfare affects the capabilities and socio-economic wellbeing (or the good life) of individuals and how capabilities and the good life possibly impact on economic welfare. Appropriate and adequate capabilities are necessary for individuals to have the opportunity to achieve the good life through their own free choice and effort. This approach is further developed and enriched by Nussbaum. This perspective on the capabilities methodology focuses on how a given level of income can generate different sets of capabilities and different and even higher levels of wellbeing even if this reduces economic welfare. I present an alternative approach to the capabilities approach where the good life positively affects the level of economic welfare, having positive feedbacks on capabilities and wellbeing. Individuals having the capabilities to achieve a good life, as they define it, contributes to the process of economic growth and socio-economic development. Keywords: Economics and Finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:15526_6 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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