“To ensure sustainable living and working conditions with ease of doing business for stakeholders in the Indian economy (consumers, producers, distributors, and traders), we must accept the online environment as the new normal created by the commodity crisis, with altered looks, actions, and words (LAW) in terms of economic policy compounding (not a mixture)”, said Professor M.M. Goel, Vice-Chancellor Starex University and founder of Needonomics School of Thought here today.
He was presenting an online talk on ‘Needonomics with Needo-finance for Indian Economy’ at the Dr. K Venkatagiri Gowda Memorial Trust’s KVG memorial webinar at the Indian Institute of World Culture in Bengaluru. The welcome address was presented by Dr. Rekha Jagannath, the coordinator, who also introduced Vice-Chancellor Prof. M.M. Goel.
Prof. Goel believes that in order to say no to the socio-economic problems caused by greedonomics (economics of greed), such as the ‘cobra effect’ of debt (making solutions worsen the problem with unfavorable consequences), corruption, terrorism, exploitation, and discrimination, we must adopt needonomics with Needo-consumption.
We must implement the needonomics principle of needo-finance for modernizing manufacturing in the MSME sector, with a monetary policy of zero interest rates with no subsidies (fiscal policy) and no import of second-hand technology (foreign trade policy), according to needonomist Goel.
Prof. Goel believes that in order to become more customers friendly, we must use the NAW (need, affordability, and worth) marketing method. We, as stakeholders, must become street SMART in order to revitalize the economy (simple, moral, action-oriented, responsive, and transparent).
Prof.M.M.Goel, Founder of the Needonomics School of Thought, has been appointed Vice-Chancellor of Starex University Gurugram. His most recent appointment was as an Advisor Public Finance at the 6th State Finance Commission of Haryana. He has 40 years of economics teaching experience, including 16 years as a Professor.
He has held the positions of Vice-Chancellor at JNU Jaipur and RGNIYD Sriperumbudur (Government of India). After retiring from Kurukshetra University, where he served as Dean of Colleges and Social Sciences and Chairperson of the Department of Economics and Journalism, he became Pro Vice-Chancellor of VKSU Ara, State University of Bihar.