London School of Economics Current Affairs - 2019

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100 Most Influential Women’ in UK Power List

Nirmala Sitharaman, Union Minister of Finance and Minister of Corporate Affairs was named in 100 Most Influential in UK-India Relations: Celebrating Women list. Besides Sitharaman, list included Penny Mordaunt, Britain’s Secretary of State for Defence and Ruchi Ghanashyam, Indian High Commissioner to the UK.

About The List

The ‘100 Most Influential in UK-India Relations: Celebrating Women’ list was launched by Sajid Javid, UK Home Secretary to mark India Day in Houses of Parliament in London. This is the 3rd year of list.

The launch of list also marked commencing of UK-India Week in Britain. The course of week will include a series of sessions on trade and investment and closer cooperation between two nations.

The women mentioned in list holds influencing positions in India and UK across 11 broad sectors such as politics, technology and sustainability.

Nirmala Sitharaman: The list called her as one of India’s most powerful women and credited her for playing a pivotal role in bilateral relationship. Having studied at London School of Economics (LSE) and worked in UK she is familiar with UK more so than probably all her other colleagues.

Oher Prominent Names in List: Priti Patel and Baroness Sandy Verma (Indian-origin parliamentarians in the UK), Gurinder Chadha (filmmaker), Zia Mody and Pallavi S Shroff (Indian law firm chiefs), Suneeta Reddy (Apollo Hospitals’ managing director) and Debjani Ghosh (Nasscom President).

Significance:

The list is recognition of front and centre role played by women in bilateral relationship. It acknowledges that from business to politics, and art and literacy, women are continuing to make their way in bringing together this bold startegic partnership via collaboration and relationships.

It highlights huge potential for bilateral future (of UK and India) as they continue to forge on together as two great countries.

Amartya Sen Chair in Inequality Studies

The London School of Economics (LSE) has announced the establishment of the Amartya Sen Chair in Inequality Studies to honour the Nobel laureate who has also served as the Professor of Economics at LSE.

Amartya Sen Chair in Inequality Studies

  • Amartya Sen Chair in Inequality Studies is a living embodiment of the LSE’s enduring commitment to working for the betterment of society through research, education and public engagement.
  • Amartya Sen’s theories of justice, equity and well-being transcend disciplines, build bridges to real-world policy and practice, and inspire generations to improve the human condition. Hence by naming a chair after him, LSE is recognising one of the world’s great thinkers on social equity.

Amartya Sen was awarded Noble Prize in the year 1998 for his works in Welfare Economics.

Welfare Economics

Welfare economics focuses on the optimal allocation of resources and goods and it evaluates how the allocation of these resources affects social welfare. This relates directly to the study of income distribution and how it affects the common good. Welfare economics is a subjective study that may assign units of welfare or utility to create models that measure the improvements to individuals based on their personal scales.