In many countries, the wealthy are taking home a greater share of the rewards today than at any time in the postwar era. Starting with income disparities: across the board, the gap between the haves and the have-nots has risen substantially in recent years. I will address two of them-obstacles based on income disparities, and obstacles based on gender disparities. There are, of course, many obstacles to empowerment. Let me begin with individual empowerment. Third, what is needed in turn to help national economies flourish-the empowerment of multilateralism.Second, what is needed to help individual empowerment-the empowerment of institutions.First, the empowerment of the individual-and what that means for economic policies.I want to address three distinct layers of empowerment: It is about cutting away obstacles to true human flourishing. Empowerment is about economic opportunity, the ability to freely choose one’s own path in life in accordance with one’s distinctive talents and abilities. Tonight, the topic I want to talk about sits at the intersection of justice and economics-the issue of empowerment. His was a prophetic voice, and he can rightfully be called the conscience of economics. Today, especially in the wake of the global crisis, members of the profession are asking the kinds of questions that Amartya has spent his whole life pondering.
In that, he follows in the footsteps of the great economic thinkers of the past. There are few economists today who can match his reach-from the complex mathematics of social choice to the lofty speculation of moral philosophy combining deep theoretical rigor with a heartfelt concern for the poor and the marginalized.Īmartya Sen has always understood that the concerns of economics are closely related to the concerns of justice and fairness. One of these Nobel Prize winners is, of course, the luminous Amartya Sen.
Its alumni include 34 world leaders and 16 Nobel Prize winners. The LSE is one of the world’s most prestigious universities. Let me especially thank Professor Craig Calhoun for his kind introduction-I know that Professor Calhoun is a great leader in his field, and a great leader of the LSE. What an immense pleasure to come to this intellectual powerhouse to honor one of the greatest intellectuals of our time. Managing Director, International Monetary Fund Empowerment-the Amartya Sen Lecture, By Christine Lagarde Managing Director, International Monetary Fund
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