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Amartya Sen, the 1998-Nobel Laureate in Economics, was born on November 3, 1933 at Shantiniketan, West Bengal, India. He is the sixth Indian to get the Nobel prize and the first Asian winner of the Economics Prize. He became the youngest chairman of the Department of Economics at Jadavpur University at the age of 23. He has been the President of the Econometric Society, the International Economic Association, the Indian Economic Association and the American Economic Association. He has taught at Calcutta, Delhi, Oxford, Cambridge, the London School of Economics and Harvard. Aside from countless honorary degrees and fellowships, Sen has also been awarded Bharat Ratna, the highest civilian award in India.
In 1998, Sen was awarded the Nobel Prize for his contributions to welfare economics, which helps explain mechanisms underlying famines and poverty. His emphasis on welfare economics and definition of poverty in return to development have at once offered a new philosophy an alternative way to solid economic development.