Economics Of Mahavira ► 08 ► [08.03] Parameters of the New Economic Policy - Faulty Economic System

Posted: 17.04.2006

The question still remains why is there a demand for a new economic system? There is always a cause for any demand. No demand arises without a motive. The answer to this question is also obvious. Violence has increased substantially. Stresses and strains have become widespread, mental turbulence has deepened and so has the danger to world peace. Man is thriving in a dangerous environment. Problems have multiplied in individual and family life. Murders, suicides, divorces and similar acts have become common. Confronted with such a situation, man is compelled to believe that there is somewhere some deficiency in our economic system, which gave rise to these tendencies.

Now an opportunity has come to turn back and ponder. A voice is being heard that a new economic system must emerge. Even the macro-economic system will not work. What is needed is a global economy or a worldwide economic system.

There has also to be a worldwide economic policy. If the problem of environment had not come into bold relief, the idea of global economy perhaps would have remained dormant. Developed nations acquired dominant control over the resources. They established large-scale industries and, in the wake, produced so much of pollution that it became a danger to environment. With the large scale cutting of forests and excessive excavation of the earth, the entire balance of nature got disturbed. It is now being noticed that powerful nations are becoming more of a threat and less of a source of strength. They are engaged in exploitation. They help less and exploit more. A race is going on among them for building economic empires and making them more powerful.

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