According to ancient economic thought society should be based on equality and welfare. It is mentioned in Rigveda, one who consumes food himself but keeps his friend, servant, guest, animals, birds, in starvation is a sinner. Western thought of economy give stress on maximum consumption and satisfaction. One the other hand balanced consumption with laborious earning and distribution is given stress in ancient Indian economic thought. This is mine that is yours is a mean thinking, while Vasudhev Kutumbkam is a high thought
Welfare of all, service to mankind is considered as humane and religious, universally in Indian culture. At present when gap between rich and poor is increasing, Ancient India’s economic thought of balanced and co-consumption, as well as justified distribution can be helpful to establish equality in society and social welfare. On the behalf of above discussion is a proof that Ancient economic thought of India is a new alternative of economic system.
