Journal of Business & Economic Policy

People Oriented Development: A Key to Resolve Global Crises
Dr. Ganesh Kawadia, Miss Era Tiwari

Abstract
The paper attempts to view corporate oriented development process through the historical lens. It then proceeds to point out its obvious limitations in attaining true ideals of the development process. It further advocates that prevailing major global problems need an alternative mode of development for their effective solution. The flaws of market based modern economics have been discussed in great details. Socialism has been rejected as a viable alternative to the market system based on historical evidences. Paper argues for a search of an economic system which may lead to people oriented sustainable development, satisfaction, peace, happiness and incorporation of ethics as well as self-regulation in the profit maximization scheme of western economics. The search finally finds an answer in the Gandhian ethics and principles like self-reliance, trusteeship, localism etc. Their close resemblance with prevalent ideals of sustainability, corporate social responsibility and equity has been tried to be established. Paper maintains that despite Gandhiji’s not being a trained economist, his suggestions and methods provide a rich insight into the right economic discourse to be adopted and have inspired some celebrated economists like Schumacher. It is in no measure opposed to scenario of growth but is rather a complement to it. The combination of ethics with economics truly makes the resulting development discourse “a people oriented development” discourse. This is the requirement of not only India but of the whole world in the current scenario.

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