Dr. B.R Ambedkar envisioned an Economics that make social equality a reality. He earned a master’s degree and a PhD in economics from the Columbia University. From social experiences of economical neglects in India and self-life experiences, he has designed a unique Economics in order to form India as a welfare state.

Ambedkars’ Economics is enough to reform Modern India.

In it four basic things are there.

 

1. Its Modernity

 

2. Performance based selection.

 

The people should be differentiated by their thought, creativity and capacity to do work and not about their caste or traditional occupation.

 

3. Social equality aimed social welfare policy of Economics.

 

4. Political Economy

 

a. Welfare of state by making it self-sufficient by utilizing country’s geographical properties like farming, mining with modern technology.

 

b. Get rid of exploitation of slavery and upper caste collective Economy.

Aiming social equality through equal education is the political economy put forward by Dr. B.R Ambedkar. Exploitation of slavery type workers should be replaced by utilization of human resource based on equality and quality based education concept.