The Rise towards Excellence of Social Science in India: a 'Nobel' Confirmation of the Value of Economics and Further Implications

In this article we aim to underline a well-recognized side of social science in India, which lately has witnessed a remarkable qualitative evolution, gaining world pre-eminence. We are referring to that component of social sciences called economics, whose exceptional value was recognized at the beginning of the third millennium with a well-deserved Nobel Prize. Of course, if we are to debate on such a theme, we shall have to take a close look at the work of the Indian economist, Amartya Sen, but we will also undertake an analysis of the Indian culture and economic thinking as a whole. We, as European researchers who study what is valuable around the world (according to our specialization), do notice that Indian culture and economic thinking, followed, to a certain extent, the trend of the 'old continent' (Europe), obviously including Marxism in its different facets. On the other hand, we notice that India never lacked 'great names' in the area of economic science, especially in the mathematical logic field. The schools of Delhi and Calcutta are some of the most important centres of development of economic thinking, not just for India but for the entire Asia, enjoying the recognition of researchers in the field from Western Europe and USA. Therefore, we considered a brief insight into the evolution of economic thinking in India as appropriate. Finally, we would like underline, as much as possible, the impact of the paradigm change generated by Amartya Sen and his research on freedom, poverty and social choices.