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Economics as a basis of social justice

The concept of social and economic justice is a living concept of revolutionary importance; it gives sustenance to the rule of law and meaning and significance to the idea of welfare state. Article 38(1) of the constitution of India provides that “State shall strive to promote the welfare of the…

Economics as basis of social welfare

Economics is to study human activities which are conductive which are conductive to human welfare in its material aspect. Wealth furnishes man with material means of satisfying his wants and of promoting his welfare. Economists, in so far as they study wealth, can be legitimately regarded as studying causes of…