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Bruce Hansen
reviewed Econocrats and the policy process on September 21, 2015
Econocrats and the policy process
Sen provides the evaluation of well-being in the conception of Capability Approach as the critiques of traditional welfare economics.
Commodity→ Capability→ Functioning → Utility
"...wealth is evidently not the good we are seeking; for it is merely useful and for the sake of something else".
Further readings of Sen's capability approach can be found and clarified greatly and insightful in his shortly later book called "Development as Freedom".
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