Economic Thought of Swami Vivekananda and Its Relevance

Abstract

Economic ideas have been there since time immemorial. It traces the story of trials and tribulations of human beings in entailing the effort to fulfill their satisfaction. All these stories are succinctly presented in the history of economic thought which provides the historical survey of the origin and development of economic ideas. Thoughts of every age in the context of their surroundings have governed individual actions and policies and are, therefore, important for us. Swami Vivekananda remains one of the most influential personalities of India and the modern world. He is a great visionary, with a rare clarity on diverse aspects of human life.  His intimate knowledge of the Indian situation, wide experience across different countries, deep understanding of the civilizational backgrounds and keen intellect gave him a unique opportunity to develop new insights on different subjects, including economics. Swami Vivekananda’s vision of economics was concerned with the wholesome development of all categories of people in the country. He strongly advocated what the economists in the recent periods call as ‘inclusive economics.’ His priority was the removal of poverty and uplifting the poorer and downtrodden sections of the society.  He wanted all sections of the country to progress. His emphasis was on the weaker sections and women. He underlined that education and basic facilities be provided to all. His economic views lays emphasis on developed methods of agriculture, village industries, adoption of science and technology and material prosperity with spirituality which seems to be very relevant even today.