The correct option is 1 only
Explanation
The Capability Approach is a theoretical framework in welfare economics and human development. It shifts the focus of development from economic metrics (like income or GDP) to the freedom and opportunities (capabilities) individuals have to lead lives they have reason to value.
Statement-wise Analysis:
- Statement 1 is Correct: The Capability Approach emphasizes building human capabilities, particularly in areas such as health, education, and access to resources. These are seen as essential for enlarging people's choices and improving their well-being.
- Statement 2 is Incorrect: The approach argues that access to resources (income, commodities) is merely a means to an end, not the end itself. It posits that resources alone are not the key to human development; rather, it is the freedom and ability to use these resources to achieve desired functionings (what people actually do and be) that matter.
- Statement 3 is Incorrect: The Capability Approach is primarily associated with the work of the Indian economist Prof. Amartya Sen. Thomas Malthus is associated with the Malthusian theory of population growth, which relates population size to food supply.
Key Takeaway:
The Capability Approach, pioneered by Amartya Sen, defines human development as the process of enlarging people's choices and freedoms, distinguishing it from approaches that focus solely on income or resource accumulation.