There are loads and loads of questions about the relevance of Gandhi and his principles and ideas in modern times. In my journey of searching for answers to these questions, I recently came across this beautiful book by entrepreneur and author Jaithirth Rao, Economist Gandhi – The Roots and Relevance of Political Economy. Jaithirth illustrates Gandhi’s importance to the rich, the poor, business, the nation, and most importantly, human capital through his principles of Truth, non-violence, Charkha, and Nai Talim.
In Economist Gandhi, Jaithirth talks about how Gandhi is declared only by the Luddites and supporters of the anti-big business school of thinking. He pored over Gandhi’s writings to show similarities between Gandhi and Adam Smith – only the Luddites and proponents of the anti-big business school of thought he has pored over Gandhi’s papers to show resemblances between Gandhi and Adam Smith – referred to as the father of economics, validate that Mahatma was indeed a capitalist and a promoter rather than opponent of big industries and machines.
The book explores Mahatma Gandhi’s economic perspective, shedding light on why he must be viewed as a management teacher and demonstrates his optimistic approach toward trade and economy. The foremost chapter, with emphasis on applied economics, cites how Gandhi’s ideas have been employed by people like Nobel laureate George Akerlof and Rachel Kranton. “Gandhi had offered a revolutionary system and process for school education through Nai Talim or New Learning program. It merits to be examined and explored as Mahatma’s unique contribution to the economics of human capital development. In the same chapter, the author comments Gandhi was neither anti-business nor anti-capitalist. “Gandhi and Isavasha (aka Isa) Upanishads” digs his views on political economy and how religion and scriptures changed his opinions of finances, capitalism, and administrative positions and concentrated him on humankind.
In conclusion, I would say that Gandhi’s recommendations on minimizing inheritance & its corrosive impact on new generations are very apt. Finally, Gandhi’s ideas of education – support for Montessori, tinkering & ‘Nai Talim’ unfortunately have been wholly overlooked & rather, we adopted the robotic, factory conveyor belt English schooling model. There are so many intriguing dimensions; this book investigates gingerly as anything beyond the traditional relating to Gandhi raises the plumages of the multitudes of his followers.
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