Economic Idea Of Mahatma Gandhi

Today 2nd October celebrated as Gandhi Jayanti. Lets see the Economic ideas of gandhi and are they still relevant ?

Economic Laws : It should be formulated according to the laws of nature. There is no conflict between the laws of nature and laws of economics.

Non Violent Economy : As there was no industry and no activity without certain violence, he wanted to minimize it. Gandhiji opposed capitalism as it resulted in exploitation of human labour.

Decentralisation : Gandhi was not in favour of large scale industrialisation, as it was responsible for many socio- economic evils. Gandhiji was for the development of cottage and rural industries.

Khadi industry : Gandhiji believed that khadi industry would save millions of people from starvation and would supplement the earnings of poor people.

Village Sarvodaya : Gandhiji wanted the revival of ancient village communities. Production was simultaneous with consumption and distribution and the vicious circle of money economy was absent.

The Trusteeship : The inherited wealth belonged to the entire society and must be spent on the welfare of all.

Labour Welfare : He always pleaded for shorter hours of work and more leisure so that workers might not be reduced to the condition of beasts. Capital should be labour's servant, not its master. 

Simplicity : Happiness lay in the curtailment of wants and not in their multiplication. he firmly believed that western materialism and industrialisation had increased human wants.

Swadeshi : Gandhi envisaged villages as self sufficient republics. According to him, the village economy would satisfy two important objectives. First, it would provide maximum employment and income to inhabitants, and second it would generate equality, freedom and justice.

Gainful Employment : His advocacy of the charkha was a way to promote gainful employment for an able bodied individual. The charkha symbolised this view about how each person could earn their own livelihood and become self reliant. He was a prominent advocate of dignity of labour.

Well being of Poor : "Recall the face of the poorest and weakest man you have seen, and ask yourself if thid dtep you contemplate is going to be any use to him" He believed that nobodu would be left wanting if everyone used just as much as was needed by him.

Appropriate technology : In 1946, Gandhi wrote, " I am not opposed to machinery as such. I am opposed to machinery which displace labour and leaves it idle". Mechanisation was good till it did not render people idle and unemployed.