PROF.MADAN MOHAN GOEL

Relevance of Needonomics for Global Economy

To give defeat to the socio-economic problems at all levels in the economy by the stakeholders, we have to adopt needonomics school of thought flowing from Gita ( 9:22) used by LIC of India in its logo ‘Yogakshemam Vahamyaham’ (Your welfare is our responsibility). The simple solution of our problems caused by Greedonomics ( economics of greed) in present times lies in Needonomics. We must understand Needonomics in totality for needo-health, needo-wealth and needo-happiness with needo-consumption, needo-saving, needo-investment, needo-growth, needo-employability, needo-entrepreneurship, needo-trade including exports needo-altruism as its expanding domain in needo-lifestyle. For conducting welfare schemes for the poor, we require resources which must be spent judiciously. To justify the relevance of needonomics in present times, we believe an enlightened life which helps in developing skills, values, wisdom and vision .