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Jain University News

Needonomics in Human Development-Scholar in Campus

Jain (Deemed-to-be University), School of Humanities and Sciences, B.E.S.T forum organized Scholar in Campus on 22 November 2019 on the topic ‘Needonomics in Human Development’ with honored guest Prof. Dr. Madan Mohan Goel.

Modern growth doesn’t only signify traditional stagnation. It is a question of finding the right path of development, the middle way between materialist heedlessness and traditional immobility, in short finding the right livelihood to build a durable and peaceful socio-economic order in the world. The ownership and consumption of goods is a means to an end, and non- violent economics is the systematic study of how to attain given ends with the minimum means - thus “Needonomics”, the present need of humankind. Beauty, simplicity, honesty, truth, and nonviolence are just different aspects of the same fundamental values of life. But economic growth calls for competition and in this context, peace, and non - violence are relegated to a secondary position.

Prof. Dr. Madan Mohan Goel is a student, teacher and researcher in economics with a spiritual bent of mind always observed the relationship between economics and the philosophy of Bhagvad Gita for everyone as consumer, producer, distributor, and trader. Worked in the university system as Vice-Chancellor, Director, Pro-Vice-Chancellor, Dean, and Chairman. He has presented various models like INDIA where I is Independence, N is non- violence, D is Democracy, I is Integrity and A for Amity. Changing the mindset of the people with the help of the ATM Model (Accountability, Transparency, and Morality). And the SMART model where S is for Simple, M for Moral, A for Action-Oriented, R for responsiveness and T for Transparent and why it is important to be street smart and simple and also the importance of self-governance.

He spoke about the various stakeholders of Needonomics who are mainly Society (around I or around U), Actors (consumer, producer, distributor and traders), Hero as a consumer (demand), Heroin: goods and services (supply) and lastly Villain: all those providing goods and services (distributers and traders).

The topic slowly drifted to the “Issues for Discussions” where he analyzed and interpreted human development as the conversion of a human being into human capital. Needonomics based on Gita is an ‘Idea of India’ which is non-violent, spiritual and ethical in nature as it is necessary for solving the socio-economic problems. He also redefined economics and differentiated between ‘Needonomics’ and ‘greedonomics’.

Prof. Goel also emphasized on the NAW (Need, Affordability, and Worth) approach towards goods and services. And converting the Holiday culture into a Holy Day culture. Developing abilities of head and heart, skills and knowledge (ASK) including spirituality as the science of soul for the success and happiness in all walks of life including consumption, production, distribution and exchange were some of the important points discussed by him. Also imbibing the ‘Palli-Palli’ (jaldi-jaldi in Hindi) culture from South Korea into our culture. Creating the needs for the products in the market and the need for good communication skills.

He finally concluded with a SIMPLE Model of Human Development which was explained in the following points:

  • Emotional Quotient
  • Love oneself attitude
  • Physical Development
  • Mental level development
  • Intuition Development
  • Spiritual Development