This paper proposes an alternative understanding of Sen's Capabilities Approach that views capabilities as constantly evolving due to the permanent phenomenological re‐construction of an individual's beings and doings, making apparent the potential link between human development and evolutionary economics. In addition, I discuss an example of how this alternative understanding may be put into practice in a Corporate Social Responsibility context for the sake of knowledge growth. In doing so, I attempt to lay the foundations for what could be labeled a ‘Quality of Life Market’, where quality‐of‐life improvements are transacted, at market‐determined prices, advancing and promoting the core business of private firms, while empowering individuals to live lives they have reason to value.
