Relative Economics

The Science of Economics is in crisis and it has begun to question its own philosophical assumptions and methods. The century old reign of Positivist Economics, which included famous models and their numerous versions such as Neo-Classical, Keynesian and Marxian has lost track of its philosophical assumptions. Communism has become out of date. It has been virtually disowned by its own promoters. Capitalism has developed serious contradictions both economic and social-cultural. There is no place for a common man in the market economy. Most of the people are sinking into misery while a few are enjoying a life of luxury. Looking at the state of world economy, global inequalities, poverty, corruption and insensitivities of multi-nationals, one gets the impression that the economists are the highest paid legitimisers of this state of affairs. This concealed a death trap for this subject and hence begins a search for an alternative paradigm. It is in this context that the study of Relative Economics as propounded by Achraya Shri Mahaprajna has become relevant and urgent.