by Shrii Prabhat Ranjan Sarkar,
Second Edition, 2020.
Proutist Economics collects together all the author’s discourses on economics. Prout is an acronym for Progressive Utilization Theory, which is a comprehensive socio-economic theory first propounded by the author in 1959. Prout stands for the progressive utilization of all factors in creation. The book consists of 40 chapters, including a new chapter on the structure of the economy that was not in the first edition. The author was extremely critical of contemporary economic ideas, and said, “Economics today is a theoretical extravaganza. It should be made more practical.” A number of chapters in this volume illustrate the author’s practical approach to economics. He also maintained that increasing purchasing capacity is the main driver of economic development and the best measure of economic progress. He stated, “the purchasing capacity of wealth is its real value”, but this real value of wealth has not yet been properly understood in numerical terms by economics today. The book sets out how contemporary economics needs to be completely transformed in order to benefit everyone.