Economic Thought in India

1. sabeshmanikandan@gmail.com
E6L01
Economic Thought

2. Muthusamy
Sabesh
Manikandan
Assistant Professor of Economics
Ayya Nadar Janaki Ammal College
Sivakasi
Email:
sabeshmanikandan@gmail.com
Download at:
www.anjaceconomics.blogspot.com
E6L01
Economic Thought

3. Economic Thought
To acquire knowledge on economic thought in ancient India
Unit V: Ancient Economic Thought
Economic Thought Ancient India: Sources of information – Kautilya’s
Arthasastra. Economic thought of Thiruvalluvar. Economic Thought
in Modem India: Factors influencing the nineteenth (19th) Century
economic growth. Main Economic Ideas : M.K. Gandhi, P.C
Mahalonbis V.K.R.V Rao, and Amartya Sen.
Self – Study Portions

4. Content
Sources of Economic Thought in India1
Economic Ideas of kautilya and Thiruvalluvar2
Economic Thought in Moden India3
M.K. Gandhi, P.C. Mahalonbis, V.K.R.V. Rao and Amartya Sen4

5. EPICS
Treta Yuga and Dvapara Yuga
Ramayana and Mahabharatha (3137 BC)
Thiru Valluvar
320 BCE to 3 CE
Arthasastra
Economic
Thinkers
Kautilya
371 BC to 283 BC
Arthashastra

6. Kautilya
Economic Idea of Kautilya

7. Chanakya
caaNa@y
a
Name : Vishnu Gupta
Kauṭilya or
Vishnugupta
Born : Chanaka Village in
Golla Region
Died : Patalliputra , India
Occupation: Teacher,
Philosopher
Economist
Jurist
Advisor of
Chandragupta
Maurya
Known for : Maury Empire
Arthashastra
Chanakiya Niti

8. ARTHASASTRA
Aqa- = Wealth
Sas~ama= Science
Aqa-Saas~ama

9. mHj;jNat g;ujhe,jp nfsby;a: mHj;j%nys
`p jHkfhkhtpjp
Law and Lust
Economics
Chapter :4

10. Wealth
Varta
Agriculture
and animal
Husbundary
Value
Dignity of
Labour
Trade
SlaveryPopulation
Public
Finance
Price Control
Social
Security
Socio-economic
Institution
Welfare
State
Town Planning
Some of the major economic ideas of Kautily
Economic Ideas of Kautilya

11. The root of happiness
is Dharma, the root
of Dharma is Artha, the
root of Artha is right
governance, the root of
right governance is
victorious inner-
restraint, the root of
victorious inner-restraint
is humility, the root of
humility is serving the
aged
Wealth
सुखस्य मूलं धममः । धममस्य मूलं अर्मः ।
अर्मस्य मूलं राज्यं । राज्यस्य मूलं
इन्द्रिय जयः । इन्द्रियाजयस्य मूलं
विनयः । विनयस्य मूलं िृद्धोपसेिा॥
Kautilya, Chanakya Sutra 1-6

12. able or meant to be consumed, as
by eating, drinking, or using
Consumability
to convey or remove from one
place, person, etc., to another
Transferability
the state of things as they
actually exist
Reality
Energy of recognition and
enjoyment of the good qualities of
someone or something.
Power of Approeciation
Characteristics of Weal
Wealth

13. Wealth

14. Wealth by Kautily

15. Wealth is to be acquired grain
by grain, as learning is to be
acquired every moment. Anyone
who is anxious to acquire wealth
or learning should not neglect
either a grain or moment.
Acquisition of wealth is always
beneficial if it is acquired for the
sake (for the maintenance) of a
good wife, a son or a friend; or for
giving away (charity)
Wealth
The system of economic thought
during the vedic period
Purushartha

16. Wealth is to be acquired grain
by grain, as learning is to be
acquired every moment. Anyone
who is anxious to acquire wealth
or learning should not neglect
either a grain or moment.
Acquisition of wealth is always
beneficial if it is acquired for the
sake (for the maintenance) of a
good wife, a son or a friend; or for
giving away (charity)
Varta
Provides means and opportunity
to every individual for leading a
decent life, ensuring self-
expression, self-realization and
salvation.
National Economy
Varta
Economics, Political Science,
Ethics, Jurisprudence and
Military science.

17. Agriculture occupies
the first place, because it
provides grain, cattle,
gold, forest produces and
cheap labour
Agriculture and
Animal Husbandry
K.N. Raj Committee (1972)
Agricultural Holding Tax (AHT)
- Progressive Tax
Tax based on the productivity of
the land
Primary Sector
Vedic period
Vaishyas and Shudras
According to Kautilya
Agriculture as a profession by
Brahmins, but did not himself
hold the plough
Shukrniti and Smriti
crops, intensive and extensive
cultivation, small and large scale
farming, the use of fertilizers,
crop diseases and their
eradication, irrigation, cattle
farming, use of good quality
seeds, evils of fragmentation of
holdings, etc.,

18. f;Upgh{ ghy;Na tzp[;ahr thHj;jh.
jhd;a g{ `puz;a Fg;atp;b g;ujheh njsgfhupfP
jah ];tg$k; gug$k; rtPfNuhjp
jz;lNfhg;ahk;
Agriculture,
animal Husbandry
and Trade are the
economic Sector
Varta
Chapter :4

19. Kautilya laid down a code of
discipline for labour in which he
prescribed penalty for those who
refused to work after receiving
wages. In certain cases, labourers
also were entitled to leave. The
worker and the employer may also
enter into a written contract
Dignity of Labour Veda
A man should lead an active lfe of har
labour for 100 years
Shukracharya
Non-finance incentives required by the
labour in the industry
Determination of wage and minimum living
wage
Manu and Kutilya
The methods for the regulation of wages
and for the settlement of disputes between
employers and workers.

20. Dharmashastras and Smrits
Recognized the importance
of commerce in the national
economy.
It was the duty of the state to build
rest-houses and storehouses for
the convenience of traders. Tolls,
duties and customs were levied on
the commodities that entered into
trade and the revenue earned
thereby sued to go to the coffers of
the state
Trade
Chapter 16
The ancient thinkers approved of
trade, whether internal or foreign ,
only when a surplus, after meeting
reasonable domestic or local
needs, was left over.
Chapter 16 (5),
Arthasastra, 231:2

21. GutpNa J gz;a g;ujpgz;aNah: mHfk; %y;ak;r
Mfkha;a {y;f thje;ahjpth`pfFy;kju Nja
Gf;j ghlf t;aa {j;jKjak; g;Naj;.
m]j;AjNa ghz;l epHt`Nzegz;a g;ujp
gz;ahHNfz thyhgk; g;Naj;. jj:
]hughNje];jy t;at`hukj;theNrNkz
g;uhNah[Naj;. Mlt;ae;j ghy Guuh;l;u
Kf;ia;r g;ujpak;aHf;fk; fr;NrjEf;u`hHjk;.
Net Barter (
𝑷𝒙
𝑷𝒎
)
Gross Barter (
𝑸𝒎
𝑸𝒙
)
Terms of Trade
Arthasastra, 232:2
Chapter 16
Whatever is without another of the
same kind, is as good as a gem,
we should take the value of each
commodity according to time and
place but there can be no value
(Price) of that which is incapable
of being exchanged

22. The tax system should be
such as not to prove a great
burden on the public (praja), the
king should act like the bee which
collects honey without
inconveniencing the plant
Public Finance
Taxation
Taxes on imports he held that
the usual rate of levy should
be 1/5th of the cost of the
commodity.
Tax Receipts
(i) Income earned through taxes
on goods produced within the
country
(ii) Income earned through taxes
on goods produced in the
capital and
(iii) Throught taxes on imports
and exports.

23. i. a tax should be levied once
a year and should not prove
a burden to the taxpayer
ii. Rich persons should be
taxed according to their
ability to pay or richness.
Principles of
Taxation
Land Tax
Ranged between 1/12 and 1/3
Public expenditure
(i) National Defence
(ii) Public administration
(iii) Salaries of the minsters
and expenditures on
government departments
(iv) Expenditure on
government storehouses
etc.,
(v) Expenditure incurred on
the maintenance of
national storehouse and
granaries
(vi) Expenditure incurred on
the maintenance of armies
(vii) Expenditure incurred on
the acquisition of valuable
gems, stones and
ornaments

24. The kind should establish
colonies for facilitating
immigration
Population Veda
Ten sons to a newly married couple were
considered to be just
Demography
Population could not grow beyond a
reasonable limit owing to the high death
rate due to constant wars between small
states and loss of life due to the inadequate
medical facilities.
Population was considered as
source of strength

25. Slavery Jatakas
The masters permitted to their
servants to learn writing and
handicrafts. One finds hardly any
instance of maltreatment with the
slave
Slavery in ancient India
He used to be a hereditary
domestic servant without any
rights of accumulation of
wealth and private property
He was better than the hired
worker

26. Welfare State
Vedas
Speak about the equitable distribution
of wealth
Each citizen was guaranteed
protection against starvation.
An equitable distribution of
wealth and food was the
objective of state
administration.
Shukra
The state is a tree of which the king is
the root and the counsellors are the
main branches, the commanders are
the lesser branches; the armies are
the blossoms and the flowers, the
people are fruits and the land is seed
Manu and Kautilya
Both were against the high rate of
interest.
Dharmasastra
Manu has given the regulations for
the rates of interest

27. Welfare State
Vedas
Speak about the equitable distribution
of wealth
Each citizen was guaranteed
protection against starvation.
An equitable distribution of
wealth and food was the
objective of state
administration.
Shukra
The state is a tree of which the king is
the root and the counsellors are the
main branches, the commanders are
the lesser branches; the armies are
the blossoms and the flowers, the
people are fruits and the land is seed
Manu and Kautilya
Both were against the high rate of
interest.
Dharmasastra
Manu has given the regulations for
the rates of interest

28. State Monopoly
Key Industries
i. The state should undertake those
industries which help directly in
making the nation self-sufficient
and self – reliant eg., gold, silver,
diamonds and iron and other
metals should be in the charge of
the state.
ii. The activities related to farming,
spinning, and weaving, livestock
farming, arts and crafts, etc.,
should be left to the individual and
the right of ownership should be
recognized.
iii. The state should see that the
activities relating to production,
distribution, and consumption are
carried out efficiently and in
accordance with the rues framed
by it.
Directive principles of State
Policy

29. Social Security
During the time of Kautilya, the system
of social security was not so elaborate
as it is found today.
It was the prime duty of the
state to provide charitable
institutions and poor houses for
maintenance of the poor, for
providing jobs to the
unemployed, and for protecting
the weak and aged.

30. Interest
Not favour of high rate of interest
The interest rate was justified on
ground that capital was productive
No interest for mortgage of property
Rate of interest varied from class to
class
the just rate of interest would
be 15% as a general rule, but
on money lent to traders and
sea merchants, even a higher
rate of interest could be
justified.

31. Price Control
Objectives
Unfair Trade Practice
Restrictive Trade Practice
Consumer protection
To protect the consumers
against the malpractices of the
shrewd and dishonest traders.
The trade in food grains and
other essential commodities
was conducted by the
authorizes traders appointed
by the state.
Pricing Policy
Charge maximum of 8% profit on
domestic commodities
Charge maximum of 10% profit on
imported commodities

32. Town Planning Town planning was quite advanced in
ancient India.
The reorientation fo main
streets, the subdivision of the
city area, and the widening of
the main streets. The capital
was established after careful
planning.
Town planning
Elaborate rues were laidn down for
prevention of the fire and maintenance
of sanitary arrangements.

33. Thiruvalluvar
Economic Ideas of Thiruvalluvar

34. Name : Thiruvalluvar
Life period : 320 BCE to 3 CE
Born at : Madurai, Mylapore
Region : Tamilnadu
Era : Ancient Philosophy
Wife : Vasuki
Parents : Bhagavan, Adhi
Notable Work : Thirukkural

35. Some of the major economic ideas of Thiruvalluvar
Economic Ideas of Thiruvalluvar
Factors of
Production
Agriculture
Wealth
Poverty and
Begging Public
Finance
Ethics
Welfare
State

36. Some of the major economic ideas of Thiruvalluvar
Economic Ideas of Thiruvalluvar
Factors of Production
Agriculture
Public
Finance
Poverty and
Begging
Wealth
Welfare State
Ethics

37. mUs;,y;yhHf;F mt;Tyfk; ,y;iy nghUs;,yhHf;F
,t;Tyfk; ,y;yhfp ahq;F
“As to impoverished men this present world is not;
The 'graceless' in you world have neither part nor lot”.
“As this world is not for those who
are without wealth, so that world is
not for those who are without
kindness”
25:247
Significance of Economics

38. js;sh tpisASk; jf;fhUk; jho;tpyhr;
nry;tUk; NrHtJ ehL
“Where spreads fertility unfailing, where resides a band,
Of virtuous men, and those of ample wealth, call that a
'land'
“A kingdom is that in which (those
who carry on) a complete cultivation,
virtuous persons, and
merchants with inexhaustible
wealth, dwell together.”
74:731
Economy: Definition

39. ,UGdYk; tha;e;j kiyAk;tUGdYk;
ty;muZk; ehl;bw;F cWg;G
“Waters from rains and springs, a mountain near, and waters
thence;
These make a land, with fortress' sure defence”
“The constituents of a kingdom are
the two waters (from above and
below), well situated hills and an
undestructible fort”
74:737
Wealth of Nation

40. jpdw;nghUl;lhy; nfhy;yhJ cynfdpd; ahUk;
tpiyg;nghUl;lhy; Cd;jUthH ,y;
We eat the slain,' you say, by us no living creatures die;
Who'd kill and sell, I pray, if none came there the flesh to buy?
“If the world does not destroy
life for the purpose of eating,
then no one would sell flesh
for the sake of money”
:256
Consumption causes the supply
– Effective Demand

41. mthvd;g vy;yh capHf;Fk;vQ; Qhd;Wk;
jthmg; gpwg;gPDk; tpj;J
The wise declare, through all the days, to every living thing.
That ceaseless round of birth from seed of strong desire doth spring
“(The wise) say that the seed,
which produces unceasing
births, at all times, to all
creatures, is desire”
:361
Desire causes all productions

42. gopmQ;rpg; ghj;JCz; cilj;jhapd; tho;f;if
topvQ;ry; vQ;Qhd;Wk; ,y;
Who shares his meal with other, while all guilt he shuns,
His virtuous line unbroken though the ages runs.
“His descendants shall never
fail who, living in the domestic
state, fears vice (in the
acquisition of property) and
shares his food (with others).”
5:44
Income Distribution

43. jhs;Mw;wpj; je;j nghUnsy;yhk; jf;fhHf;F
Ntshd;ik nra;jw; nghUl;L
The worthy say, when wealth rewards their toil-spent hours,
For uses of beneficence alone 'tis ours
“All the wealth acquired with
perseverance by the worthy is
for the exercise of benevolence”
22:212
Income Distribution

44. Njhbg;Gojp f/rh czf;fpd; gpbj;JvUTk;
Ntz;lhJ rhyg; gLk;
Reduce your soil to that dry state, When ounce is
quarter-ounce's weight;
Without one handful of manure, Abundant crops you
thus secure
“If the land is dried so as to
reduce one ounce of earth to a
quarter, it will grow plentifully
even without a handful of
manure.”
104:1037
Production function

45. Kjy;,yhHf;F Cjpak;,y;iy kjiyahk;
rhHG,yhHf;F ,y;iy epiy
Who owns no principal, can have no gain of usury;
Who lacks support of friends, knows no stability
“There can be no gain to those
who have no capital; and in like
manner there can be no
permanence to those who are
without the support of adherents.”
45:449
Capital

46. mwd;<Dk; ,d;gKk; <Dk; jpwdwpe;J
jPjpd;wp te;j nghUs;
Their wealth, who blameless means can use aright,
Is source of virtue and of choice delight.
“The wealth acquired with a
knowledge of the proper means and
without foul practices will yield virtue
and happiness”
Public finance

47. Cuzp ePHepiwe; jw;Nw@ cyfthk;
Nguwp thsd; jpU.
The wealth of men who love the 'fitting way,' the truly wise,
Is as when water fills the lake that village needs supplies
“The wealth of that man of eminent
knowledge who desires to exercise
the benevolence approved of
by the world, is like the full waters of
a city-tank”
Public goods and Externalities
22:215

48. nra;thid ehb tpidehb fhyj;NjhL
va;j czHe;J nray;
Let king first ask, 'Who shall the deed perform?' and
'What the deed?'
Of hour befitting both assured, let every work
proceed
“Let (a king) act, after having
considered the agent (whom he
is to employ), the deed (he
desires to do), and the time
which is suitable to it.”
52:516
Employment

49. ehLvd;g ehlh tsj;jd ehLmy;y
ehl tsj;jUk; ehL
“That is a land that yields increase unsought,
That is no land whose gifts with toil are bought”
“The learned say that those are
kingdom whose wealth is not
laboured for, and those not, whose
wealth is only obtained through
labour.”
74:739
Full-employment

50. gad;kuk; cs;SHg; gOj;jhw;why;> nry;tk;
eaDil ahd;fd; gbd;
A tree that fruits in th' hamlet's central mart,
Is wealth that falls to men of liberal heart
“The wealth of a man (possessed of
the virtue) of benevolence is like the
ripening of a fruitful tree in
the midst of a town”
Multiplier and Accelerator
22:216

51. Gj;Njs; cyfj;Jk; <z;Lk; ngwy;mupNj
xg;Gutpd; ey;y gpw
To 'due beneficence' no equal good we know,
Amid the happy gods, or in this world below
“It is difficult to obtain another
good equal to benevolence
either in this world or in that of
the gods”
22:213
Service activity

52. ,d;ikapd; ,d;dhjJ ahJvdpd; ,d;ikapd;
,d;ikNa ,d;dh jJ
You ask what sharper pain than poverty is known;
Nothing pains more than poverty, save poverty alone
“There is nothing that afflicts
(one) like poverty”
105:1041
Poverty

53. gpzpapd;ik nry;tk; tpisT,d;gk; Vkk;
mzpvd;g ehl;bw;F,t; ite;J
“A country's jewels are these five: unfailing health,
Fertility, and joy, a sure defence, and wealth”
“Freedom from epidemics, wealth,
produce, happiness and protection
(to subjects); these five, the
learned, say, are the ornaments of a
kingdom.”
74:738
Sustainable Development

54. 19th Century
Modern Economic Thought

55. British Crown
Private Remittance which was equal
to the total land revenue of Rs. 17.5
million
Percapita income was Rs. $2.
The Growing Poverty
Intellectual contact with West
Greater use of economic theories
Influece of Keynes : Dada Bhai
Naoroji, M.G. Ranade, R.C. Dutt,
G.K.Gokhale
Miscelleneous factors
Phase I :1885 – 1900 : moderate nationalism
Phase II: 1900 – 1918 : Tilak’s Home Rule Movement
Phase III: 1919 – 1947 : Poorna Swaraj
The rise of Indian Nationalism
Factors Influencing the Nineteenth Century Economic Thought
Modern Economic Thought

56. Gandhi
Economic Thought of Mohandas Karamchand Gandhi

57. Mahatma Gandhi
Life Sketch
Name : Mohandas
Karamchand
Gandhi
DoB : 02.10.1869
DoD : 30.01.1948
Place : Porbander, Gujarat
Spouse : Kasthurbai
Parents : Karamchand
Uttamchand Gandhi &
Putlibai
Influences : Bhagavat Geeta
Upanishads
Unto this Last
Contributions
The story of My Experiments with Truth
Hind Swaraj or Indian Home Rule

58. 1919191518911887
He was called to
the Bar
Bar council
He started
movement in
India
Civil
Disobedience
Movement
Lift Sketch of Mohandass Karamchand Gandhi
Timeline: M.K. Gandhi
He went England
for his education
in law
England
He served the
people of South
Africa for two
decades
Came to India

59. 1947194219301920
Non –
Cooperation
Movemetn
Dandi March .
Salt Satyagraha Quit India
Movement India got
Indipendece on
15.08.1947
Indepennce
Lift Sketch of Mohandass Karamchand Gandhi
Timeline: M. K. Gandhi

60. Gandhian
Socialism
Some of the major economic ideas of Mahatma Gandhi
Economic Ideas of Gandhi
The Trusteeship
Doctrine
Industrialization
Decentralisation
Regeneration of
Villages
Food
Problems
Prohibition
Population

61. Principles of Gandhian Economics
Truth
Non–violence
Dignity of Labour
Simplicity
Simple living and high thinking

62. Trusteeship
Trusteeship provides a
means of transforming
the present capitalist
order of society into an
egalitarian one. It gives
no quarter to
capitalism, but gives
the present owning
class the chance of
reforming itself. It is
based on the faith that
human nature is never
beyond redemption.

63. Industrialisation
The spinning wheel
itself
a machine, a little
toothpick is a machine,
A mad rush for wealth
must cease, and the
labour must be assured
not only of a living
wage, but a daily task
that is not a mere
drudgery.

64. Decentralisation
Gandhi’s faith in
decentralized economy
was all the more
strengthened because
he thought that it was
essential for the
survival of democracy
If you multiply individual
production to millions of
times, would it not give
you mass production on
a tremendous scale.

65. Regeneration of
Villages
Village Sarvodaya
According to him,
“Production was
simultaneous with
consumption and
distribution and the
vicious circle of money
economy was absent.
Production was for
immediate use and not
for distant markets. The
whole structure of
society was founded on
non-violence.”

66. Food Problems
Gandhi’s solution
1. Every individual should
curtail his or her
requirements of food to the
minimum
2. Every flower garden should
be utilised for cultivation;
3. The consumption of food
grains and pulses by the
army personnel should be
economized;
4. Black-marketing should be
stopped;
5. Deep wells should be sunk
by the government so as to
provide irrigational
facilities;
6. Export of oil seeds, oil
cakes, etc., should be
stopped

67. Population
Gandhiji opposed the
use of contraceptives as
its use in India would
make the middle class
male population
imbecile through abuse
of the creative functions.
Gandhiji was in favour of
birth control through
self-control or
brahmacharya and not
through the use of
artificial methods. He
considered self-control
as the “infallible
sovereign remedy”.

68. Prohibition
The use of coffee, tea,
tobacco, and alcohol
was detrimental to the
mental, physical, and
moral development of
an individual.
The use of liquor was a
disease rather than a
vice. He had no
objection to the use of
liquor if taken under
medical advice. He
would have preferred
India to be reduced to a
state of pauperism than
have ‘thousands of
drunkards in our midst’.

69. P C Mahalanobis
Economic Thought of Prasanta Chandra Mahalanobis

70. P.C. Mahalanobis
Life Sketch
Name : Prasanta Chandra
Mahalanobis
DoB : 29.06.1893
DoD : 28.06.1972
Place : Calcutta
Spouse : Nirmal Kumari
Mahalanobis
Parents : Probodh Chandra and
Nirodbashini
Influences : Rabindranath Tagore
Contributions
Indian Statistical Institute
Father of Indian Statistics
Well Known for Second Five Year Plan in
India.

71. 1931192219151912
awarded by
King's College,
Cambridge.
Senior
Scholarship Indian Statitical Instiutte,
Culcutta
17.12.1931
Lift Sketch of Prasanta Chandra Mahalanobis
Timeline: P C Mahalanobis
became a professor
of physics
Presidency
College, CulcuttaPresidency
College,
Culcutta.
B.Sc., (Phy)

72. VKRV Rao
Economic Thought of Vijayendra Kasturi Ranga Varadaraja Rao

73. VKRV Rao
Life Sketch
Name : Vijayendra Kasturi
Ranga Varadaraja Rao
DoB : 08.07.1908
DoD : 25.07.1991
Place : Kanchipuram,
Madrass Presidency,
British India
Spouse : Kamala
Awards : Padma Vibushan (1974)
Contributions - Founder
Delhi School of Economics
Institute of Economic Growth
Institute for Social and Economic Change
“My passion was always to make my
economics useful for the nation’s economic
growth and the welfare of of its masses”

74. Contribution of VKRV Rao
1931 Taxation of Income in India
1936 An essay on India’s National Income -1925-29
1940 The National Income of British India
1945 India and International Currency Plans
1948 Post-War Rupee
1970 Gandhian Alternative to Western Socialism

75. Contribution of VKRV Rao
1971 Values and Economic Development – The Indian Challenge
1971 The Nehru Legacy
1978 Swami Vivekananda – Prophet of Vedantic Socialism
1979 Many Languages and One Nation – the Problem of Integration
1982 Food, Nutrition and Poverty
1982 Indian socialism: Retrospect and Prospect (1982)
1983 India’s National Income 1950-80

76. Full employment
and Economic
Development
Price Policy
Some of the major economic ideas of VKRV Rao
Economic Ideas of VKRV Rao
Economic Activity
Industrial
Development
National Income
methodology
Institutional
Development Poverty
Fiscal Policy
Deficit
Financing

77. Amartya Kumar Sen
Economic Thought of Amartya Kumar Sen

78. Life Sketch
Name : Amartya Kumar Sen
DoB : 03.11.1933
Place : Santiniketan
Bengal, British India
Spouse(s) : Nabaneeta Dev Sen
(m. 1958 – Div.1976)
Eva Colorni
(m. 1978 – d. 1985)
Emma Georgina
Rothschild-Sen
(m. 1991)
Awards : Nobel Memorial Prize
in Economic Science (1998)
Bharat Ratna (1999)
Contributions
Human Development
Theory

79. Some of the major economic ideas of Amartya Kumar Sen
Economic Ideas of A K Sen
Poverty and Famines
Poverty and
Inequality
The Concept of
Capability
Entitlement Choice of
Technique
Other
Economic
Ideas
The Time Series
Technique

80. Thank you
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