An Alternative Philosophy of Development From economism to human well-being

While development has been the foremost agenda before successive governments in India, it has been viewed narrowly–from the perspective of economic development and particularly in terms of gross domestic product (GDP). This book questions such an approach. It breaks from the conventional wisdom of GDP growth as being a definitive measure of the success of a country’s policies and offers an alternative development philosophy. The author contends that people’s economic and social welfare, life satisfaction, self-fulfilment and happiness should be treated as indicators of real development. The book underlines that in a successful model of development, the country’s economic policies will have to synergize with its cultural ethos and that the objective of development should be gross national happiness and well-being of the people. This book will be useful to scholars and researchers of development studies, economics, public policy and administration, governance, political science andsociology, as well as topolicymakers.

1 India’s cultural and civilizational ethos and challenge of development PART I The current socio-economic setting 2 Search for economic well-being 3 Education and health: key to nation’s prosperity 4 Agriculture, rural distress and poverty 5 Industrial development: route to prosperity 6 India’s foreign trade deficit, depreciating rupee and the fraud of modern economics 7 India’s public finance mismanagement: exploding debt and threat of bankruptcy PART II The current economic ideology and its problems 8 Free market ideology and its perils 9 Environmental unsustainability of India’s economic growth 10 A new development scenario 11 Saving the economy from the economists PART III Rethinking development 12 The Gandhian alternative to economic development 13 Revisiting socialism: solution to our socio-economic problems 14 Good governance: pre-requisite for development PART IV Culture as foundation of development 15 Indian culture: a spiritual and humanistic approach to life 16 Indian culture and money: challenge of a materialist world 17 Quest for happiness: public policies and national happiness 18 Synergizing development with cultural ethos Index

B. P. Mathur is a former civil servant and member of the Indian Auditand Accounts Service with extensive experience of working with the government. He has served as Deputy Comptrollerand Auditor General and Additional Secretary, Government of India; and Director, National Institute of Financial Management, India. He holds a PhD and DLitt in Economics from the University of Allahabad, India,and has been a visiting faculty member at Panjab University, Chandigarh; Bajaj Institute of Management, Mumbai; Indian Institute of Public Administration, New Delhi, and many other national-level institutes. He is presently engaged as a spiritual seeker, author and social activist with spiritual interests. He is Vice-President, Common Cause. He hasauthored several books on governance, finance and economics, besides two novels in Hindi, and is the recipient of the Paul Appleby Award for services rendered for public administration.