A New Deal
A New Deal
This chapter is devoted to explaining the manner in which Kumarappa translated his philosophical arguments into an analysis of everyday problems. An interpretative exposition on Kumarappa’s theory of decentralization is presented along with his understanding of many important sociological and economic issues. The chapter highlights Kumarappa’s theory of decentralization, his analysis of large-scale industrialization and mass production, machinery and industrial efficiency, role of money and economic value. The chapter also considers Kumarappa’s ingenious philosophy of work and his understanding of the moral basis of swadeshi.
Keywords: Theory of economic decentralization, industrialization and mass production, social and moral implications of mass production, Say’s Law, machinery and industrial efficiency, role of money, economic value, use versus exchange value, philosophy of work, moral basis of swadeshi, producer–consumer relationship, democracy, caste
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