Question

in 200 words, Is man only a material economic being or is he more? If he is more, what are implications of this for an economic system?

Answer 1

Answer: It has been well proven over the time that the man is not just a material economic being but he is much more than that. It is true the man cannot survive without materialism and economic activity but at the same time it cannot be ignored a man requires things that are beyond economic and materialism. Man has a sense for social belonging and has emotions. He likes to live in a society where he is recognized and has a sense of belonging. Similarly he also has spiritual needs like self actualization and all these factors make man more than a material economic being. Therefore the economic system should not consider man just as a material economic being but it should also incorporate its spiritual and social needs also. Economic system that is just focused on the material needs cannot survive for a longer term. In order to develop sustainability, the economic system should also take into account the spiritual and the social needs of humans. The economic system should change its thinking that man is a rational being that just requires material wealth and should work to create benefits that go beyond this need. The economic system should not just work for the creation of material wealth but also the social and spiritual capital for man.