Amartya Sen Chair in Inequality Studies
The London School of Economics (LSE) has announced the establishment of the Amartya Sen Chair in Inequality Studies to honour the Nobel laureate who has also served as the Professor of Economics at LSE.
Amartya Sen Chair in Inequality Studies
- Amartya Sen Chair in Inequality Studies is a living embodiment of the LSE’s enduring commitment to working for the betterment of society through research, education and public engagement.
- Amartya Sen’s theories of justice, equity and well-being transcend disciplines, build bridges to real-world policy and practice, and inspire generations to improve the human condition. Hence by naming a chair after him, LSE is recognising one of the world’s great thinkers on social equity.
Amartya Sen was awarded Noble Prize in the year 1998 for his works in Welfare Economics.
Welfare Economics
Welfare economics focuses on the optimal allocation of resources and goods and it evaluates how the allocation of these resources affects social welfare. This relates directly to the study of income distribution and how it affects the common good. Welfare economics is a subjective study that may assign units of welfare or utility to create models that measure the improvements to individuals based on their personal scales.
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Month: Current Affairs - April, 2019