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Finanical Crisis

Sen Recommends a New Understanding of Old Ideas, including Public Communication

Tom Jacobson's picture

Our good friend Amartya Sen checks-in recently with an essay in the New York Review of Books (March 26, which I am just getting to).  Our good friend, because as a leading economist he is also a serious and long standing student of development challenges given his work on poverty, income distribution, famine, and so on.  The occasion of this particular NYRB essay is the ongoing financial crisis.  In it, he addresses recent calls for a “new economics,” as exemplified in the "New World, New Capitalism" symposium held in Paris in January, hosted by Nicolas Sarkozy and Tony Blair. The idea, as Blair proposed, is to call for a new financial order based on “values other than the maximum short-term profit.”