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:
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