Tamilnadu BoardEnglish MediumSTD 11EconomicsIndian Economy2 Marks
Question
Explain Thiruvalluvar’s economic ideas.
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Answer
The economic ideas of Thiruvalluvar are found in his immortal work, Thirukkural in its second part porutpal.
Factors of production: Thiruvalluvar has made many passing references about the factors of production, land, labour, capital, organization.
Agriculture: Agriculture is the most fundamental economic activity. The prosperity of other sectors depends on the prosperity of agriculture. Valluvar believes that agriculture is superior to all other occupations.
Public finance: He elaborately explained public finance under the headings public revenue, financial administration and public expenditure.
Public expenditure: Valluvar has recommended a balanced budget. He advocates
Defence
Public works
Social Services
External assistance: Valluvar was against seeking external assistance. He advocated a self-sufficient economy.
Poverty and begging: According to him ‘poverty is the root cause of all other evils which would lead to ever-lasting sufferings.
Wealth: Valluvar has regarded wealth as only a means and not an end.
Welfare state: The important elements of a welfare state are
Perfect health of the people without the disease
Abundant wealth
Good crop
Prosperity and happiness
Full security for the people.
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