In this chapter, students will be able to understand: State how the unemployment rate is measured and describe the debate about that measure; explain Okun's rule of thumb and summarize the debate about the appropriate target rate of unemployment; explain why unemployment is more than a technical concept but one that involves normative judgments; discuss the advantages of, and problems with, a government-guaranteed minimum job program. | Lecture 5 Human Development Approach and Capability Approach: Concepts and Evolution Human Development Approach Human development concept is not a new one. Evolution of Human development concept can be traced from the writings of renowned thinkers and philosophers of ancient times. Aristotle, argued that ‘wealth is evidently not the good we are seeking, for it is merely useful and for the sake of something else”. Another great philosopher, Immanuel Kant argues that human beings are ends in themselves, rather than the means to other ends. Adam Smith , Malthus, Karl Marx, J. S. Mill and many other modern economists have also come forward with the similar idea of treating human beings as the real end of all activities. Human Development Approach The idea of human development has in recent years strongly influenced evaluations, development debates and policies Human development is ‘a process of enlarging people’s choices and strengthening human capabilities’. The term ‘human development’ has been seen as expansion of human capabilities, a widening of choices, an enhancement of freedoms and a fulfillment of human rights. Such a perspective shifts policy attention from mechanically expanding incomes to fruitfully ensuring that higher incomes translate into greater freedoms to people –women, children and men The most critical of these wide-ranging choices are to live Human Development Approach a long and healthy life, to be educated and to have resource access for a decent standard of living. These three basic choices reflected in HDI But many additional choices are valued by people. They range from political, social, economic and cultural freedoms to opportunities for being productive and creative, self respect and human rights. Human freedom is vital for human development. ‘Putting people at the Centre’ The HD concept is inspired by Amartya Sen’s capability approach. We will discuss this later. The HD approach will be more clear when we compare with other concepts . | Lecture 5 Human Development Approach and Capability Approach: Concepts and Evolution Human Development Approach Human development concept is not a new one. Evolution of Human development concept can be traced from the writings of renowned thinkers and philosophers of ancient times. Aristotle, argued that ‘wealth is evidently not the good we are seeking, for it is merely useful and for the sake of something else”. Another great philosopher, Immanuel Kant argues that human beings are ends in themselves, rather than the means to other ends. Adam Smith , Malthus, Karl Marx, J. S. Mill and many other modern economists have also come forward with the similar idea of treating human beings as the real end of all activities. Human Development Approach The idea of human development has in recent years strongly influenced evaluations, development debates and policies Human development is ‘a process of enlarging people’s choices and strengthening human capabilities’. The term ‘human .
