Amartya Sen as a neoclassical economicst

Amartya Sen is commonly described as an insightful critic of mainstream economics, and specifically, his work in improvement economics, alongside the development of the capabilities strategy, has been related to endeavors to revisit each the idea and follow of the self-discipline.

Regardless of his in-depth criticisms of sure features of mainstream economics, Sen’s in depth use of formal strategies is suggestive of an ontological pressure, one recognized by Thorstein Veblen when commenting on a few of his contemporaries and initially introducing the time period “neoclassical”.

Veblen coined the time period to spotlight the ontological inconsistencies within the work of a selected group of economists, together with Alfred Marshall and John Neville Keynes. Veblen argued that their work concerned each an implicit recognition of a causal processual social ontology he related to trendy, completely evolutionary, approaches and a dedication to a taxonomic conception of science – the latter counting on a set of strategies that presupposed an associationist ontology of occasion regularities. For Veblen, the adherence to taxonomic strategies was the classical characteristic of the work of the related group, and the dedication to an evolutionary viewpoint was the neo facet.

This paper argues that the identical pressure runs by Sen’s contributions and that he’s neoclassical on this particularly Veblenian sense. The evaluation of the ontological inconsistencies in Sen’s work is proven to make clear its reception throughout the economics academy.