Friday, May 11, 2012

Relevance of Gandhi's views on Economic Development

Relevance of Gandhi's views on Economic Development
By Gulabhai Jani
Translated into English by Alaka Sharma

The world economic order is in “crisis mode”. Well-known companies and banks of USA are declaring themselves as bankrupt, one by one. It is feared that the economy may slide down to the days of “Great Depression”. In this context, it is worthwhile to have a look at the economic thoughts of M. K. Gandhi.
Gandhiji’s economic thought is imbibed in his overall philosophy. His approach is holistic and aims at the socio-economic reconstruction of society. Once, Gandhiji was asked to write down the text of his economic thought, he refused, saying that his framework is based on some basic principles which he applies to solve the day to day practical problems. So it can’t be summarized in a few equations.

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