Advances in Economics and Business Vol. 1(2), pp. 139 - 144
DOI: 10.13189/aeb.2013.010209
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The Present Economic System: Divergence from Aspiration (Need to Realize a Conscious Economic System for a Better World Order)


Jyoti Gogia*
Department of Economics, Faculty of Social Sciences, Dayalbagh Educational Institute, Deemed University, Agra, 282005, U.P., India

ABSTRACT

An Economic System is the set of principles by which economic problems are addressed. The solutions to these economic problems depend upon the decision-making quality of its participants (human society). Thus, the state of any economic system depends on the possible alternatives available, and the distinctiveness of its participants’ consciousness. The paper portrays that the present global economic system is diverging from its aspiration, and essentially it requires shifting from materially conscious system to ethically conscious system and finally to spiritually conscious system, which shall commit to meet the real needs of life and establish a Better World Order. The paper stresses upon the significance of practicing Ethics and Spirituality with Economic principles by and for the human society which is the major constituent of the economic system.

KEYWORDS
Materialism, Ethics, Economic System, Spirituality, Consciousness, Better World Order

Cite this paper
Jyoti Gogia . "The Present Economic System: Divergence from Aspiration (Need to Realize a Conscious Economic System for a Better World Order)." Advances in Economics and Business 1.2 (2013) 139 - 144. doi: 10.13189/aeb.2013.010209.