Jhansi, Nov.03,–“ We must understand and adopt needonomics with needo-wealth, needo-health, and needo-happiness of the global citizenry ”, justified Prof. Madan Mohan Goel, Former Vice-Chancellor known as propounder Needonomics School of Thought superannuated from Department of Economics Kurukshetra University. He was addressing the participants of the 5th International Conference 2023 by the Institute of Economics and Finance, Bundelkhand University Jhansi during Nov 2-3, 2023. On this occasion Prof Goel was honoured with Professor J.K.Mehta Academic Excellence Award for his outstanding groundbreaking research contributions in the field of economics.
We have to understand and adopt needo-consumption, needo-saving, needo-production, needo-investment, needo-distribution, altruism, needo-trade for glocalization (think globally and act locally) , explained Prof. Goel.
For needo-altruism to help others (Not Me but You of NSS), we must make efforts to earn more than the total expenditure and become the means of helping others to help themselves, said Prof. Goel.
To create demand for goods and services, there is a strong case for adopting the NAW (Need, Affordability, and Worth) approach to international marketing, believes Prof. Goel.
All challenges and worldly problems in the present era call for a spiritually guided materialism (SGM) strategy, said Prof. Goel.
We have to address illness in the behavior of all the stakeholders as consumers, producers, distributors, traders, policymakers, and politicians, said Prof. Goel.
We must become street SMART( simple, moral, action-oriented, responsive & transparent ) with Needonomics as a common sense approach for a sustainable future of the global economy, believes Prof. Goel.