Stiglitz-Sen Strategy

The Stiglitz-Sen strategy refers to an approach to evaluating economic welfare that emphasizes the importance of social justice and equity. Developed by economists Joseph Stiglitz and Amartya Sen, it critiques traditional measures like Gross Domestic Product (GDP) for not accurately reflecting individuals' well-being. Instead, it advocates for assessing well-being based on factors such as income distribution, access to education, health, and overall quality of life. This holistic perspective aims to create policies that promote not just economic growth, but also fairness and sustainability, ensuring that benefits are shared across society.