Today, i.e. on 26th March, in 1902, Gopal Krishna Gokhale, carefully trained in Indian Economics, made his first seminal speech on the Budget of the then British India. The British authorities took pride in the budgetary surplus that they had saved. Just then a man stood up and took lock, stock and barrel the entire British administration for their shameful deeds.
He pointed out that having a budgetary surplus while majority was either starving or dying, wasn't a thing to be proud of. He then took up the annual budget, clause by clause and brought out the negligence and apathy of the Colonial administration, concluding that India was poor because its Economy was subservient to British interests.
Since that day, he's known as the Greatest Parliamentarian in the history of India. His views are very much true even today! While today's authorities and the "booming" middle class are busy in 'maximizing their marginal utilities', about 80% of Indian population resides and struggles at $1,25/day. There seems to be a need for another Gopal Krishna Gokhale.
The blind pursuit of consumption-maximization, the idea that a nation can be happier with more material wealth to consume, the old trickle down theory of Economics and the lack of interest in the larger field called Society, are some of the reasons for the contradictory state of world we live in. On one hand we have Consumers who want to maximize their marginal utilities and feel 'free to choose' in the market; on the other hand its this very class of consumers who has to produce in order to be able to consume. The lack of interest of people in Production while understanding the society isn't a healthy sign and must be reformed.
We don't need Economists to help us make our lives better. We need Social scientists who can rather help us understand the larger phenomenon called Society. And you know what- there's someone who can help us here; Karl Marx!
Following are some links that will help readers know more about Gopal Krishna Gokhale:
AICC's website: Click here.
He pointed out that having a budgetary surplus while majority was either starving or dying, wasn't a thing to be proud of. He then took up the annual budget, clause by clause and brought out the negligence and apathy of the Colonial administration, concluding that India was poor because its Economy was subservient to British interests.
Since that day, he's known as the Greatest Parliamentarian in the history of India. His views are very much true even today! While today's authorities and the "booming" middle class are busy in 'maximizing their marginal utilities', about 80% of Indian population resides and struggles at $1,25/day. There seems to be a need for another Gopal Krishna Gokhale.
The blind pursuit of consumption-maximization, the idea that a nation can be happier with more material wealth to consume, the old trickle down theory of Economics and the lack of interest in the larger field called Society, are some of the reasons for the contradictory state of world we live in. On one hand we have Consumers who want to maximize their marginal utilities and feel 'free to choose' in the market; on the other hand its this very class of consumers who has to produce in order to be able to consume. The lack of interest of people in Production while understanding the society isn't a healthy sign and must be reformed.
We don't need Economists to help us make our lives better. We need Social scientists who can rather help us understand the larger phenomenon called Society. And you know what- there's someone who can help us here; Karl Marx!
Following are some links that will help readers know more about Gopal Krishna Gokhale:
AICC's website: Click here.
Wikipedia's article: Click here.
