Rajasthan Board RBSE Class 11 Economics Notes Chapter 13 Economic Ideas of Pt. Deen Dayal Upadhyay
→ Pandit Deen Dayal Upadhyay was an epitome of simple living, high thinking, humble behaviour and dedication.
→ Pandit ji was bom at Dhankiya village on the Jaipur-Ajmer rail route, Rajasthan, in the house of his maternal grandfather Shri. Chunnilal Shukla.
→ Pandit ji appeared for his High School exams from Kalyan High School, Sikar and secured a gold medal, standing first class first in Ajmer Board.
→ He gave the world the principle of integral humanism, when it reeled under the oppressive burden of capitalist and communist systems.
→ Pt. Deen Dayal in his short lifetime, wrote many articles and books related to national life and national problems.
→ Pt. Deen Dayal has expressed his views on the subject of unitary humanism, unitary economy, capitalism, socialism, decentralized economic system, ban on mechanization, prohibition on cooperative cultivation, foreign capital, economic culture, etc.
→ Integrated human philosophy implies- the philosophy of integrated relations of human life with the entire nature.
→ Integrated human philosophy is the philosophy of life of Indian culture which is the focal point of the philosophy that practises the aims to attain the manly efforts of the four objectives of religion instilled with intellect and spirit, wealth, physical conquest and salvation.
→ The objective of every economic system is to provide the facility of prosperous and comfortable (joyful) life to its citizens.
→ The very prosperous economies and very backward economies have their own specific problems.
Capitalist stands on four principles:
- Struggle for existence
- Survival of the existence
- Exploitation of nature
- Individual rights
→ According to Upadhyay, capitalism developed on the basis of these four principles.
→ The thoughts of Adam Smith and Keynes contributed a lot to development of capitalism.
→ The thoughts of Adam Smith and Keynes, due to the propounding of principles like ‘struggle for existence’ and ‘survival for existence’, have made life in capitalist countries very competitive.
→ Marxist economic thought arose as a reaction to the unwanted results of capitalist economic system.
→ Pt. Deen Dayal said with great self-confidence that ‘Integrated economic policy cap be the only third option, which is included in the philosophy of integral humanism in Indian culture.
→ Western economic science ponders more and more about enhancing the physical/material prosperity of man while, when thinking about economic policy, some non-economic concepts also have to be analysed.
→ Elimination of lack and influence of wealth from society and ensuring its holistic management, is called dimension of wealth.
→ Religion has always been considered the fundamental manly effort and wealth in Indian culture.
→ In Vedic explanation, labour has been mentioned as the first characteristic of the 12 characteristics of religion.
→ It is the fundamental duty of the state to provide the right to labour.
→ The seminal conflict between individualism and socialism has produced a new dimension, whether the individual should have the right over property/ wealth or should the state have the right over it.
→ Upadhyay considers the conflict between the individual and the state over right to wealth/ property to be inherently wrong.
→ He says that every individual is a representative of the society, and thus is a trustee of a part of society’s wealth/property.
→ Upadhyay neither accepts the undignified right of ownership of the individual on property, nor the undignified ownership of the state.
→ Upadhyay was a strong opponent of centralization of the power of unlimited production in the hands of some people.
→ Consumerism and the capitalist aspirations of economic human has divided economic life and the man.
→ Capitalist system produces reaction in the society, does not plan an equitable existence, and destroying the cultural values of society, traps it in the vicious cycle of consumerism and makes it greedy.
→ The tendencies of centralization destroy the sense of responsibility and generate the emotions of labour.
→ Upadhyay was against heavy industries. He did not agree with the view that the small industries are not economical from the financial point of view.
→ If the inconveniences and lack of facilities are done away with for small industries, they will prevail over large ones if the additional facilities given to big industries are discontinued.
→ According to Pt. Deen Dayal Upadhyay, India is an agricultural country.
→ In his view, the industrialization of the country cannot be done without strengthening agricultural development.
→ He has considered small dams more suitable than large dam projects.
→ In his view, 95% of the water stored in these smaller dams can be used for agriculture, while only 55% of water stored by large dams can be used in agriculture.