There has been a shift, in recent years, in the understanding of the process of development. It is not a switch (as often portrayed) from a state-dependent view of development to a market-reliant view. Rather, it involves rejecting a "blood, sweat andtears" view of development in favour of celebrating people's agency and cooperation andthe expansion of human freedom and capabilities. The market as an institution fits into thisbigger picture. So do human rights and democratic values, especially as the vehicle of political incentives (complementing economic incentives). It involves, ultimately, a fuller view of human beings.
Economic development, capabilities, hard states, political incentives, role of public discussion, valuational weights.
by Amartya Sen. All rights reserved. Short sections of text, not to exceed twoparagraphs, may be quoted without explicit permission provided that full credit, including ©notice, is given to the source.