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Integrating Ethics into Economics

In: Issues in Indian Public Policies

Author

Listed:
  • M. V. Nadkarni

    (Institute for Social and Economic Change (ISEC)
    Centre for Multi-Disciplinary Research and Development (CMDR))

Abstract

By insisting on small-scale production and decentralisation of economic activity including production, Gandhiji sought to prevent accentuation of inequality, so that we do not have to depend on the altruism of the rich. It is wrong to characterise the Gandhian approach as relying on the altruism of the rich. The trusteeship principle comes only where some centralisation and large-scale production are inevitable. It was the uncontrolled tendency to increase the scale of productivity and to centralise production which created most of the evils of competition, according to Gandhiji.

Suggested Citation

  • M. V. Nadkarni, 2018. "Integrating Ethics into Economics," India Studies in Business and Economics, in: Vinod B. Annigeri & R.S. Deshpande & Ravindra Dholakia (ed.), Issues in Indian Public Policies, pages 205-225, Springer.
    • Handle: RePEc:spr:isbchp:978-981-10-7950-4_11
    DOI: 10.1007/978-981-10-7950-4_11
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