Module 8: An argument for modernization and development
  Lecture 24: Inclusive Growth: Renewed Support to Model of Development

  • Desist from non-competitive behaviour involving and the operation of cartels to keep prices high should end.

  • Invest in environment friendly technologies.

  • Promote enterprise and innovation both within firms and outside.

  • Fight corruption at all levels. Corruption should not exist as the grease that oils the wheel of progress.

  • Promote socially responsible media and finance socially responsible advertising.

Each of the above points needs deeper probe and reflection. The message is that the industry does not act exist in void. In order to perform effectively it has to act in a responsible manner towards community, society and environment. Can it be said that to have an inclusive growth we have to aspire for a model of growth in which it is possible for all – individuals, industry, government and society – to become a trustee of their material, psychological and spiritual possessions? Does this mean combining economic development with moral ideas of Gandhi and others? Is it possible? Can the motivation for growth and altruism go together? If not, what institutional arrangements are needed to compel individuals to act enthusiastically and responsibly?