The real purpose of an economic system is to guarantee to every person in its circle the fundamentals of physical existence (food, clothing, shelter) and the tools of meaningful work so that they can get on with the business of living together and working out our common destiny. This was Gandhi’s vision, among others’. We can no longer afford to ignore him in this sector any more than we can ignore his spectacular contributions to peace and security.
By the time Gandhi’s thinking on the subject matured in his classic treatise, Hind Swaraj, or Indian Home Rule (1909), he saw that our present economic system is being driven by a dangerous motive: the multiplication of wants. Because these wants are artificial — being that they created by advertising — and can never be satisfied, it creates what economist David Korten has called a “phantom economy” of fantastic financial manipulations that of course can never endure.