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Can the Capability Approach be Evaluated within the Frame of Mainstream Economics? A Methodological Analysis

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  • Hatice Karaçay Çakmak

Abstract

The aim of this article is to examine the capability approach of Amartya Sen and mainstream economic theory in terms of their epistemological, methodological and philosophical/cultural aspects. The reason for undertaking this analysis is the belief that Sen’s capability approach, contrary to some economists’ claim, is uncongenial to mainstream economic views on epistemology and methodology (not on ontologically). However, while some social scientists regard that Sen, on the whole, is a mainstream economist, his own approach strongly criticizes both the theory and practice of mainstream economics. Key words: Amartya Sen, Mainstream economics, Methodological individualism.JEL: B4, O1.

Suggested Citation

  • Hatice Karaçay Çakmak, 2010. "Can the Capability Approach be Evaluated within the Frame of Mainstream Economics? A Methodological Analysis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(1), pages 85-99.
    • Handle: RePEc:voj:journl:v:57:y:2010:i:1:p:85-99:id:179
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    Keywords

    Amartya Sen; Mainstream economics; Methodological individualism;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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