"The world of Bretton Woods is not the world in which we live today," he said.
In his 30-minute long speech, Sen also made several pointed criticisms of the inequality within the U.S. While African-Americans in the U.S. are poorer than whites, he said, they are richer than people in developing countries.
But, he said, blacks in America have a lower life expectancy due to the lack of medical insurance and other inner city institutions, which the current economic boom has not fixed.
In spite of these doubts, however, Sen carefully avoided indicting the process of global integration.
"The opposite of globalization is seclusion and autarky," he said.
Sen summoned the image of a frog, living in a well, who is suspicious of everything outside.
"The frog has a worldview, but it's just inside the well," he said.
Several members of the audience regarded Sen's speech warmly.
Read more in News
Ecuadorean IOP Fellow Accused of CorruptionRecommended Articles
-
Amartya Sen Offers Alternative to GDPEconomic experts pondered whether a more accurate economic health measurement system would have prevented the financial crisis.
-
State Dinner Crashers Part DeuxSo what does being a State Dinner crasher get you? Subpoenaed, apparently. In light of today's congressional hearing looking into the antics of the now infamous Salahis, Flyby talked to Harvard's very own History Professor Emma Rothschild and her husband Professor of Economics and Philosophy Amartya Sen who were one of the lucky few to get an invite to the first State Dinner of the Obama administration.
-
Time to PrioritizeEnvironmental organizations should rally and encourage voters to urge their representatives to bring climate change to the congressional table.
-
Misguided RemarksSen. Brown should exercise greater prudence before he chooses to conflate Harvard's policies
-
Medals Honor HumanitiesHarvard affiliates took home three of the nine National Humanities Medals awarded for 2011, in a ceremony earlier this week at the White House.
-
Maskin Named University ProfessorEconomics professor Eric S. Maskin ’72, who won a Nobel Prize in 2007 for his contributions to the field of game theory, has been appointed a University Professor, joining 22 other faculty members who hold Harvard’s most prestigious post.