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Development Economics

The concept of "capabilities to function" helps gain insight into development goals and achievements by viewing development as holistic progress that considers people's different capabilities to function, rather than just economic growth. Money alone is not enough for development, as development must focus on improving lives holistically by expanding freedom and opportunities to extend individual capabilities. For development to occur, there must be an expansion of choices that provides enough opportunities for people to develop their capabilities.

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Mounicha Ambayec
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30 views

Development Economics

The concept of "capabilities to function" helps gain insight into development goals and achievements by viewing development as holistic progress that considers people's different capabilities to function, rather than just economic growth. Money alone is not enough for development, as development must focus on improving lives holistically by expanding freedom and opportunities to extend individual capabilities. For development to occur, there must be an expansion of choices that provides enough opportunities for people to develop their capabilities.

Uploaded by

Mounicha Ambayec
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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How does the concept of “capabilities to function” help us gain insight into development goals

and achievements? Is money enough? Why or why not?


The concept of “capabilities to function” help us gain insight into development goals and
achievements through enabling us to view development not just a mere measurement of actual
growth and an end it itself; but as an holistic progress taking into consideration the different
capabilities a person has in terms of functioning. To illustrate, suppose that a paralyzed man
cannot walk which prevents him from doing activities he may like such as sports or recreation or
perhaps a breadwinner in a family who works on a minimum cannot afford the needs of his
seven children. These are situations that show poor functionality and abilities. In this sense, there
is no actual development at all. Development, then, has to be focused on improving lives
holistically. Therefore, we can say that there is development when there is an expansion of
freedom or people’s choices such that enough opportunities are given in order for them to extend
their individual capabilities as well. which often embodies the idea that: “what the society can
offer you reflects what you are capable of”.

Differentiate traditional, political and development economics.

1. traditional economics- talks more about numbers, GDP, GNP and the like that shows the
growth of a certain country or city
2. politics- more on allocations of the capabilities of the countries, the laws per se, to make
it more efficient in improving the lives of people
3. development economics- it encompasses both traditional and political economics
-focuses on human life that is part of the economy
-focuses on the people and everything that involves the people themselves
-concerned with the well-being of the people and society
-study of how economies are transformed from stagnation to growth and from low
income to high income and overcome problems of absolute poverty

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