Risk and Asymmetry in Development Ethics
AbstractRisk is implicit in economic development. When does a course of economic development ethically balance risk and likely benefit? This paper examines the view of risk we find in Amartya Senâ€™s work on development. It shows that Senâ€™s capabilities approach leads to a more sensitive understanding of risk than traditional utility theory. Senâ€™s approach also supplies the basis of an argument for risk aversion in interventions that affect economic development. Senâ€™s approach describes development as aiming at freedom. The paper shows how this claim can be made compatible with the social and relational basis of African communitarianism.
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