Economist Gandhi: The Roots and the Relevance of the Political Economy of the Mahatma

by Jaithirth Rao

This book is a refreshing take on Gandhi's economic philosophy. It provides insights into the hidden facet of Gandhi's personality, and his thoughts on economics and capitalism. The book captures aspects of Gandhi's thinking usually missed by those who are sure they know Gandhi. This is probably the first book on Gandhi that claims that Gandhi was not against business and capitalists. In fact, the author maintains that Gandhi was a Baniya by caste, and this is what explains Gandhi's positive approach towards business, trade and wealth.

Genres: History, Nonfiction

239 pages, Kindle Edition

Published September 27, 2021

About the author

Jaithirth Rao, popularly known as Jerry Rao, is an Indian businessman and entrepreneur. He is the founder and former CEO of the software company MphasiS. He is the founder of Value and Budget Housing Corporation, an affordable housing venture which he founded in 2008.

Reviews

[Appu · Rating 4 out of 5]

Gandhi is usually dismissed as an anti-modernist, a luddite and a prophet of the pre-industrial age. Jerry Rao tries to dispel these easy assumptions. Gandhi, Rao argues, was not against the market or the creation of wealth. Rather, he took great joy in the success of Indian businessmen and industrialists. He hobnobbed with them and made them give their wealth to his causes. He was however not a votary of wealth for wealth sake. He saw wealth as a means, not an end in itself. He therefore proposed the doctrine of trusteeship; the wealthy should hold wealth in a fiduciary capacity for the good of the society. It follows that the state has no right to expropriate wealth. Wealth rightfully belongs to the wealth creators. Rao sees the roots of Gandhis economic ideas in Hindu texts like, Bhagwat Gita (nishkama karma), Isavasya Upanishad (isavasya midam Sarva..), the Gospels, traditions of Christian groups like Quakers and Trappist monks and English common law concept of equity. According to Rao, Gandhi did not belong to the ‘shramanic’ traditions of Hinduism, rather he was a “worldly ascetic” much like Weber’s Protestants. Gandhi admired physical labour and the tradition of tinkering as a way of advancing knowledge, spurring innovation and enterprise. He incorporated tinkering into his theory of education, 'Nai Talim'.
Rao's book reminds us of an aspect of Gandhi's life and philosophy that is often ignored.

[Book_withquotes · Rating 4 out of 5]

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Delve into a refreshing perspective on Gandhi’s economic philosophy with this illuminating book. Offering a nuanced exploration, it unveils the often-overlooked dimension of Gandhi’s persona and his views on economics and capitalism. Contrary to common belief, the book asserts that Gandhi harboured a positive attitude towards business and capitalists, challenging conventional narratives. Shedding light on Gandhi’s background as a Baniya by caste, the author presents a compelling argument for understanding Gandhi’s stance on business, trade, and wealth. This insightful work promises to expand perceptions and offer a deeper understanding of Gandhi’s multifaceted ideology.

Understanding of Gandhian way of thinking of the advanced problem regarding who possesses information and how it ought to be utilized and safeguarded is likewise of extraordinary interest. Rao uncovers Gandhi to be both a genuinely worldwide figure and a developmental and clear scholar about the business reason, whose pertinence has just developed as we face the terrific difficulties of our times.

Rao shows by looking at Gandhi’s compositions that his idea of trusteeship characterized free enterprise that is not the same as seeking after abundance as an end in itself. Rao likewise deftly handles the analysis that Gandhi was hostile to machines and, in this way, a Luddite who romanticized the charkha and rustic economy. This book characterizes the importance of Gandhi for the rich, and poor people, for business connections, the state or more all, for human resources. This book isn’t ideal for everybody, except the people who are keen on this point, most certainly get this book now!

[Ashutosh Jalan · Rating 5 out of 5]

Revealing interpretation of Gandhian Ideas many of which are contrary to the popular notions of Gandhian thoughts.

You will be amazed by the depth, clarity and utility of Gandhian Ideas in modern times.

Read. Read. Read.