Theoretical and Practical Reason in Economics by Ricardo F. Crespo

Author:Ricardo F. Crespo
Language: eng
Format: epub
Publisher: Springer Netherlands, Dordrecht

Ricardo F. CrespoSpringerBriefs in PhilosophyTheoretical and Practical Reason in Economics2013Capacities and Capabilities10.1007/978-94-007-5564-2_4© The Author(s) 2013

4. The Contributions of Aristotle’s Thought to the Capability Approach

Ricardo F. Crespo1

(1)Department of Economics, IAE, Universidad Austral, Mariano Acosta s/n y Ruta Nacional 8, 1629 Pilar, Buenos Aires, Argentina

Ricardo F. Crespo

Email: [email protected]

Abstract

The objectives of this chapter are to show how Aristotle’s ideas might help to overcome some open issues in the CA: how to define specific capabilities given their plurality, and second, how to choose among capabilities and to assign weights to them given their incommensurability. Answers to these issues would provide more specific criteria for the work of the policy maker. Finally, the chapter aims to show the close link between Cartwright’s concept of capacities and Sen’s of capabilities. Nussbaum argues for a determinate list of capabilities while Sen complains that this proposal risks over-specification. The chapter suggests that Nussbaum’s list is over-specified from an Aristotelian perspective. Based on Aristotle’s ideas, then, a short list of capabilities is presented. This short list facilitates the operationalization of practical reason and the capability approach. It overcomes the inexactness where it should be overcome and it respects it where it should be respected. It also respects the spirit of the Aristotelian conception of human fulfillment and Sen’s conception of human development. Concerning the second open issue of the CA, the incommensurability of capabilities, Sect. 4.1.2 suggests that “practical comparability,” a procedure based on Aristotle’s ideas, appears as a way of overcoming it.

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