A Review Paper on Gandhian Economics and Its Comparison with Other Business Theories

Business started from the Barters system, and today it has become the profit-driven activity. Business followed a number of distinctive theories during his journey of decades. Socialism by Marx (1887), Capitalism by Smith (1776), Social Business by Yunus (2011), Mixed Economy Model of Keynes (1930), and Gandhian Economics, Kumarappa (1951), these all are the different theories of the business. Though the aim of all the theories is to achieve the happiness and satisfaction to the society, but the Gandhian economics stands out among all other theories as the theory considers violence and nonviolence while discuss about the business and economics Jeliyang (2016). The current study will evaluate the Gandhian Economics of J C Kuamarappa (1951) and investigate whether this can serve the purpose of business to serve these levels of existence or not and attempts to find that where this theory stand in comparison with other theories. The study finds that Gandhian economics considers all the levels of human's existence while defining the economics