Gandhian Economics - Modern Interpretations

Modern Interpretations

The proximity of Gandhian economic thought to socialism has also evoked criticism from the advocates of free-market economics. To many, Gandhian economics represent an alternative to mainstream economic ideologies as a way to promote economic self-sufficiency without an emphasis on material pursuits or compromising human development. Gandhi's emphasis on peace, "trusteeship" and co-operation has been touted as an alternative to competition as well as conflict between different economic and income classes in societies. Gandhian focus on human development is also seen as an effective emphasis on the eradication of poverty, social conflict and backwardness in developing nations.