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Progressive Utilization Theory: Difference between revisions
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[[#fp2|The second fundamental principle]] of PROUT reduces economics to its two rudimental elements: production and distribution. To optimize production, PROUT prescribes maximum utilization of all resources, animate and inanimate. To optimize distribution, PROUT prescribes a rational approach (in contrast to [[:wikipedia:Adam Smith|Adam Smith's]] ''[[:wikipedia:Invisible hand|invisible hand]]''<ref>Adam Smith (1759), Section IV.1.10 of ''The Theory of Moral Sentiments''and Adam Smith (1776), Section IV.2.9 of ''An Inquiry into the Nature and Causes of the Wealth of Nations'' [http://www.econlib.org/cgi-bin/searchbooks.pl?searchtype=BookSearch&pgct=1&sortby=R&searchfield=F&grp=AllSmith&id=&query=invisible+hand&x=3&y=9&andor=and Library of Economics and Liberty].</ref> and [[:wikipedia:Karl Marx|Karl Marx's]] ''[[:wikipedia:To each according to his contribution|according to contribution]]'' or ''[[:wikipedia:From each according to his ability, to each according to his need|according to need]]''<ref>[[:wikipedia:Karl Marx|Marx, Karl]] (1875). [http://www.marxists.org/archive/marx/works/1875/gotha/ch01.htm "Part I"]. ''Critique of the Gotha Program''. Retrieved 2008-07-15.</ref>). To implement such an economy, PROUT analyzes economics in respect to four dimensions: ''[[#People's economy|people's economy]]'', ''[[#Psycho-economy|psycho-economy]]'', ''[[#Commercial economy|commercial economy]]'', and ''[[#General economy|general economy]]''. Regarding these four dimensions of economics, Sarkar states: | |||
{{Quote|''Most economists today understand only a little of the principles of general economy and something of commercial economy, but both of these parts are still in an undeveloped stage. People’s economy and psycho-economy are totally overlooked by modern economists, and as such could find no place in the present mode of economic thinking.''<ref name="ReferenceA">Sarkar, Prabhat Ranjan (1986). "The Parts of the Economy" published in ''A Few Problems Solved Part 7''. [[Ananda Marga Publications]].</ref>}} | {{Quote|''Most economists today understand only a little of the principles of general economy and something of commercial economy, but both of these parts are still in an undeveloped stage. People’s economy and psycho-economy are totally overlooked by modern economists, and as such could find no place in the present mode of economic thinking.''<ref name="ReferenceA">Sarkar, Prabhat Ranjan (1986). "The Parts of the Economy" published in ''A Few Problems Solved Part 7''. [[Ananda Marga Publications]].</ref>}} | ||