Book Review | Retaining Balance: The Eternal Way shows economic policies need a human touch in India
Many books on economics get published regularly as it dominates our lives. However, rarely does an original work come in this field, especially with Bharatiya perspective, that shakes you up. In his new book, Retaining Balance: The Eternal Way , author MR Venkatesh makes you sit up and think hard by questioning the dogmas that dominate the discipline of modern economics. The underlying theme of this book is about the inherent fallacy of this social science being divorced from culture and formulated more and more through mathematics. The absence of the human factor has made it prone to huge mistakes and human society, open to miseries of routine cycles of high prosperity and misery. In Independent India, Pandit Deendayal Upadhyay was unarguably the first thinker to break away from capitalist and Marxist models of economics and come up with the philosophy of ‘Integral Humanism’ that kept the individual at the centre. This is not an atomised individual — the consumer — as in the West, b