Move towards value economy?

The ideas of welfare economy are closely linked with value economy. In our context, value economy may be defined as a design of economy which suits the long run requirements of sustainability and human values. Some of this is developed in religious frameworks as an alternative to purely secular, value free, macro-economic framework. There have been several attempts to develop Gandhian economics, Hindu economics, Islamic economics and Christian economics based on religious texts, religious traditions, and preachings of saints. A common element in all of them is the assertion of the idea that religion is not inconsistent with economics of this world but the wealth must be acquired righteously and/or to serve the religious ends. There are also some differences between different religions. For example, Islam is opposed to charging interest but the modern day Christianity and Hinduism accept it on purely economic grounds. The reasons are: interest is a premium for inflation; it takes care of risks; certain loans may be lost due to failed business; and it leads to postponement of pleasure. Buddhist economy is the most known form of economy based on religious thought and practical wisdom.