The article delves into the perception of economics as the 'queen of social sciences' and its evolution since the mid-20th century, highlighting its reliance on mathematical tools and models to analyze economic phenomena. Despite its influential role in shaping national policies, economics is often viewed as a cold discipline because it operates under the assumption of 'rational humans' who make decisions solely based on self-interest, reducing humanity to mere statistics. This perception disconnects the human emotions that drive real-world economic activities.

Amartya Sen, an Indian economist and Nobel laureate, challenges this traditional view with his significant work, 'Rationality and Freedom,' which proposes a more ethical framework for understanding economics. Sen criticizes the foundational notion of rational humans, arguing it oversimplifies individual behavior by ignoring values and ethics. He emphasizes that individuals often make choices against their self-interest based on moral obligations and a sense of justice, which mainstream economics fails to recognize. This critique is central to Sen's advocacy for an economics that prioritizes human dignity and addresses issues like poverty and inequality through his 'capability approach.'

The conversation around economics and ethics raised in this article highlights the need for a paradigm shift in how economic theories are constructed and applied. By embracing a more holistic understanding of human behavior that incorporates commitment and altruism, Sen's approach aims to reframe economics as a discipline that genuinely contributes to improving lives, fulfilling the ethical duty of economists to promote welfare while considering the complexities of human motivations.