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Wednesday, June 29, 2016

Meaning of Economics

Economics means Righteous use and Security of Economic Resources – i.e. body, mind, and wealth – in the form of Prosperity.


An awakened human being is one who has self confidence, respect for excellence, balance in personality and talent, one who is self-supporting in occupation and sociable in behaviour.  Such is the characterization of member of a human family.  An awakened human family is seen to be having definite identification of relationships among themselves, fulfilling values expected therein, its appreciation and finding mutual fulfillment thereby.   Each member is seen to be contributing towards the production activity which the family has taken up.  As a result each family naturally produces more than its needs.  Mutual fulfillment in family and its continuity, production more than needs with its righteous use and security is cyclical in itself.  It is clear that needs of a family with humaneness become limited, because humaneness has definiteness in use, righteous-use, and purposefulness of things.  This results in possibility of each family producing more than its needs.

- An Excerpt from English Translation of "Aavartansheel Arthashastra" by Shree A. Nagraj

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