Amartya Sen wins John Maynard Keynes Prize-new UK award

Amartya Sen wins John Maynard Keynes Prize-new UK award

Eminent Indian economist and Nobel laureate Amartya Sen has been named as the first winner of a newly established award in the UK, in recognition of his work on welfare economics.

Sen, 81, was declared as the winner of the inaugural Charleston-EFG John Maynard Keynes Prize, established in memory of the famous British economist, last night during a reception at the Royal

The prize was announced by Dame Liz Forgan at the Royal Academy on Monday night. The chair of the advisory panel, she commented: “The aim of this prize is to honour individuals from around the world who continue to embody Keynes’ extraordinary attributes. The remarkable Amartya Sen couldn’t be a more worthy winner in this inaugural year. Philosopher, economist, teacher, moralist, his tireless commitment to the cause of ending inequality and deprivation by bringing a penetrating intelligence to bear on their causes is truly exceptional. On behalf of my fellow judges I would like to congratulate Professor Sen on his outstanding achievements.”

Professor Sen will receive £7,500 to commission a work of art and will give the annual Charleston-EFG Keynes Lecture at the Charleston Festival in the U.K. This year’s lecture, scheduled for May 23, will be on ‘The Economic Consequences of Austerity’.Academy here

Professor Sen reacted thus: “I feel deeply honoured by the news of this award. The world in which we live today has been made much more secure by the economic wisdom that Keynes brought to us during the dark days of the Great Depression. When that wisdom is partly or wholly ignored in the making of economic policy, large numbers of people are made to suffer unnecessarily. I am afraid we have seen several depressing examples of that in the recent years, especially in Europe, with a huge human toll. Keynes was a great pathfinder, and it would have distressed — if not surprised — him to see how well-identified paths can be comprehensively neglected by policymaking that draws more on ideology than on well-reflected reasoning.”