Gandhian economic thought (3)

Intellectual Influences of Gandhian economic thought

Continuation

4. Gandhiji’s writings elements drawn from the labour theory of value of Adam Smith and David Ricardo.

This led him to emphasize labour as the primary source of economic value.

5. Gandhiji was also to some extent influenced by the Marxian doctrine of egalitarianism.

Marxian doctrine of egalitarianism emphasizes on the “exploitation of labour”.

However the Marxist idea of a violent revolution was an anathema to him.

He recognized the importance of class conflict, but sought to reconcile it within the framework of his new concept of Trusteeship.

According to concept of Trusteeship corporations and industrial houses held profits in “trusts”.

It was for the social welfare of their workers and of the society in general.

Used from paper of  D. M. Nachane