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Why political parties need to start talking about ‘Hindu economics’

Sanghnomics: Many western economists and thinkers have also highlighted the failure of the western model of development

April 29, 2024 / 11:32 IST
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(Sanghnomics is a weekly column that tracks down and demystifies the economic world view of the Rashtriya Swayamsevak Sangh (RSS) and organisations inspired by its ideology.)
As India undergoes the polling process for electing a new government for next five years, there is heated debate on the issue on several economic issues such as redistribution of wealth, freebies, unemployment and the like. All major political parties have released their manifestoes also where substantial space has been devoted to the economic issues. One of the key buzzwords in the ongoing political debate is ‘development’ of India where the key emphasis is on ‘economic development’.

This brings us to the fundamental question. What is the basic premise of this debate? Are our political parties blindly following the ‘western paradigm’ when they are talking about the development of India? Is this paradigm relevant or useful for India?  Western educated economists and a bureaucracy which has been recruited through a Macaulayan system of recruitment is bound to go for replicating the western model of development in India. Let us have a look at how this paradigm has fared and why?

Gurudev Rabindra Nath Tagore had aptly remarked that God has given different question papers to different countries. Hence, copying the answer paper of another country won’t do any good.

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Ivan Illich, the famous author of ‘Towards a History of Needs’ breaks down the myth of development as established by the western paradigm as he observed, “Development means to have started on a road that others know better, to be on the way towards a goal that others have reached, to race up a one-way street. Development means the sacrifice of environments, solidarities, traditional interpretations and customs, to ever-changing expert-advice. Development promises enrichment; and for the overwhelming majority, has always meant the progressive modernisation of their poverty.”

Many western economists and thinkers have also recognised the failure of the western model of development. The collapse of the Soviet Union and the decline of Western Europe and the United States is a testimony to the failure of both the Capitalist and the Marxist model of development.