Economics Isn't Just About Financial Measurements
The fundamental subject, which makes a very compelling case to promote the adoption of farm living is economics. To understand how, we need to revisit our understanding of economics. Adam Smith, the father of modern economics defines economics as a study of managing ‘wealth’. Though not explicitly defined, wealth is considered as all that satisfies the human want, but excludes abundantly available resources like air, water, land, etc. Arthashastra, an ancient Indian text on state administration touches upon macro economics as an important component. It gives a lot of importance to agricultural land, forest land, cattle, rivers, mountains and other natural resources, not only as a means to fulfil the material needs but also security of the state and its people. The modern view of economics may have been relevant during the 18th century, but not in the 21st century. Water scarcity is the biggest crisis. Pollution of air and water and soil health are formidable challenges. The scope ...