This is Sen at his most philosophical, and I think he is basically correct on this point, namely that there is more to the standard of living concept than at first meets the eye.
There is something to the "missing women" charge, but the problem is not quite what many people think. It depends on what part of the world you live in.
One of the most deeply philosophical of the development economists. On top of everything else, his work on environmental sustainability was well ahead of its time.
Free trade, but not free capital movements! Bhagwati is a key figure behind the idea of rent-seeking and also trade theory, plus he has been a keen observer of current events.