Sunday, December 6, 2009

Commodities and Capabilities (1999)

This short monographs presents a set of interrelated theses builds the foundation of welfare economics for which latter in 1998 Amartya Sen got Nobel Prize for welfare economics

This book opens you altogether new vision to look at society. It is socio economic study where we understand; interest, well-being, advantage, commodities and their usage, utility, desire, happiness.

From book: I would distinguish broadly two ways of seeing a person’s interest and there fulfillment, and I shall call them respectively ‘well-being’ and advantage’. Well-being is concerned with a person’s achievement: how ‘well’ is his/her ‘being’? ‘Advantage’ refers to the real opportunities that the person has, especially compared with others.

How happiness (being well half) is relative term and can be explained with mathematical function, amazing!

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