An Open Letter to the British Prime Minister: Adopt Needonomics to Mitigate the Crisis in the United Kingdom

An Open Letter to the British Prime Minister: Adopt Needonomics to Mitigate the Crisis in the United Kingdom

Professor Rashmi Bhardwaj & Professor Madan Mohan Goel

Dear Prime Minister Rishi Sunak,

We have noted with great interest your recent speech on security at the Policy Exchange think-tank on May 13, 2024. You eloquently articulated the necessity for a “clear plan and bold ideas” to ensure a secure future for Britons, acknowledging that “more will change in the next five years than in the last 30.” Your emphasis on strategic and economic preparedness, coupled with robust plans and enhanced national resilience, is both timely and pertinent given the current geopolitical instability.

However, in our well-considered opinion, the underlying solution to the myriad challenges facing the United Kingdom lies in understanding and adopting the principles of needonomics, as propounded by Professor Madan Mohan Goel.

Understanding Needonomics

Needonomics ( economics of needs)  an idea of India is based on Gita verse 9: 22 .  Needonomics School of Thought that emphasizes fulfilling genuine needs over the insatiable pursuit of Greedonomics (economics of greed).  We advocate for an economic model that prioritizes sustainability, equity, and the well-being of all citizens. By focusing on what is necessary for a dignified and sustainable life, needonomics presents a paradigm shift from the traditional, growth-centric economic models.

The Case for Needonomics in the UK

Economic Resilience: The current economic model in the UK, much like in other developed nations, is heavily skewed towards consumption and growth. This approach has led to significant economic disparities and a strain on natural resources. By adopting needonomics, the UK can shift towards a more resilient economy that prioritizes sustainability and long-term stability over short-term gains.

Social Equity: One of the core tenets of needonomics is ensuring that everyone’s basic needs are met. This includes access to healthcare, education, housing, and nutritious food. By realigning economic policies to focus on these essentials, the UK can address the growing inequality and social discontent that have been exacerbated by recent economic policies.

Environmental Sustainability: The pursuit of continuous economic growth has often come at the expense of the environment. Needonomics promotes a model where economic activities are in harmony with nature, ensuring that natural resources are used judiciously and sustainably. This approach is crucial for combating climate change and preserving the planet for future generations.

Implementing Needonomics: Strategic Steps

Policy Reorientation: The UK government should reorient its economic policies to focus on the fulfillment of basic needs rather than the accumulation of wealth. This can be achieved through progressive taxation, increased social spending, and investments in public goods.

Education and Awareness: Educating the public about the principles of needonomics is vital. Schools, universities, and media can play a significant role in spreading awareness about the benefits of a needs-based economy.

Sustainable Practices: Encouraging businesses and individuals to adopt sustainable practices is essential. This can be facilitated through incentives for green technologies, support for local and small-scale enterprises, and regulations that promote environmental conservation.

Community Engagement: Engaging communities in the decision-making process ensures that policies are reflective of the actual needs of the people. This can be achieved through participatory governance models and community-led initiatives.

Conclusion:

Prime Minister Sunak, the challenges facing the United Kingdom today are unprecedented, but they also present an opportunity for transformative change. By adopting needonomics, the UK can build a more equitable, sustainable, and resilient future for all its citizens. This approach not only aligns with the ethical imperatives of our time but also provides a pragmatic framework for addressing the economic and social issues that are at the heart of the current crisis.

We urge you to consider this visionary approach as part of your strategy for the coming years. The path to a secure and prosperous future lies not in the relentless pursuit of growth, but in the thoughtful and equitable fulfillment of our true needs justified by the needonomics school of thought.

*The first author  Prof Rashmi Bhardwaj is Fellow of Institute of Mathematics & Applications, UK; Professor of Mathematics, Nonlinear Dynamics Research Lab, University School of Basic & Applied Sciences, Guru Gobind Singh Indraprastha University, Delhi

** The second author Prof Madan Mohan Goel  is Propounder Needonomics School of Thought, Former Vice-Chancellor, Starex University, Jagannath University, RGNIYD (GOI), and Superannuated Professor of Kurukshetra University.