Economics
The second fundamental principle of PROUT reduces economics to its two rudimental elements: production and distribution. To optimize production, PROUT prescribes maximum utilization of all resources, animate and inanimate. To optimize distribution, PROUT prescribes a rational approach (in contrast to Adam Smith's invisible hand and Karl Marx's according to contribution or according to need). To implement such an economy, PROUT analyzes economics in respect to four dimensions: people's economy, psycho-economy, commercial economy, and general economy. Regarding these four dimensions of economics, Sarkar states:
Most economists today understand only a little of the principles of general economy and something of commercial economy, but both of these parts are still in an undeveloped stage. People’s economy and psycho-economy are totally overlooked by modern economists, and as such could find no place in the present mode of economic thinking.Read more about this topic: Progressive Utilization Theory, Other Key Concepts
Famous quotes containing the word economics:
“Women’s battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)
“The new sound-sphere is global. It ripples at great speed across languages, ideologies, frontiers and races.... The economics of this musical esperanto is staggering. Rock and pop breed concentric worlds of fashion, setting and life-style. Popular music has brought with it sociologies of private and public manner, of group solidarity. The politics of Eden come loud.”
—George Steiner (b. 1929)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)