Economics Of Mahavira ► 02 ► [02.00] The Economic Concept of Development

Posted: 20.12.2005

Bhagwan Mahavira described every activity or piece of work, development or its equivalent variant in relative terms.

There are many streams of thought, many disciplines. There are, at the same time, inter linkages among the different branches of science. There is natural relationship even among different sciences. Though Economics studies only wealth, it cannot remain indifferent to other sciences. And yet it appears that Modern Economics has endeavoured to chart out an isolated way. This has led to many problems. Instead of getting resolved, they have become complex and have given fillip to violence.

Keynes described the main objective of Economics by advocating that every poor man should become rich, become prosperous. The objective is certainly alluring. On this subject, there does not seem to be many differences between communism and capitalism. There could be differences between ends and means, but the main goal of both is that nobody should remain without means, remain poor and live below the poverty line. Primary needs of everybody must be satisfied and everybody must live his life in happiness and peace. This has become the objective of development. This also is the definition of development from the point of view of Economics. Economic development, industrial development, development of technology, per capita income and standard of living these are the yardsticks of modern economic development.

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