In: Economics
Compare the Human Development Index (HDI) to Amartya Sen’s capabilities theory. (The Todaro and Smith textbook gives a detailed account of the old and new versions of the HDI, but you can refer only to the features that are relevant to your argument.) What aspects of Sen’s theory are well represented in the HDI? What aspects are missing from the HDI? For any missing feature, can you suggest a way of empirically measuring that feature?