On May 15, the Asia Institute under its special lecture series organized a special lecture by Prof. Madan Mohan Goel, Vice Chancellor, Starex University, Gurugram, India on the theme of ‘Relevance of Needonomics in South Korea of Today’. The webinar was conducted on zoon platform and attended by participants from various countries such as Thailand, Korea, USA India among others. Webinar was organized with the purpose of highlighting the growing social problems of Korea and how they can be reduced and controlled by using ‘Needonomics’. Participants reacted very positively to the most of suggestions made by prof Goel. Seminar concluded with suggestions to new Korean govt under president Yoon to pay urgent attention to growing social problems in the country. Prof. Emanuel Pasterich President of Asia Institute delivered a welcome address and presented a citation on the achievements of Prof. M.M. Goel. In the end Dr. Lakhvinder Singh director pf peace program at Asia institute also spoke about the need to adopt simple and need based life style.
In this special lecture Prof. Goel founder of ‘Needonomics’ School of Thought argued, that to ensure public wellbeing in the uncertainty of the future in South Korea, we have to strengthen knowledge resources and develop the ability for possible solutions in the principle of ‘Needonomics’. He explained ‘Needonomics’ is required for saying ‘no’ to most of the problems caused by greedonomics including violence, terrorism, exploitation, deprivation, discrimination, discontent and corruption of all kinds prevailing in Korea of today,
He justified the principle of ‘Needonomics’ as an investment in innovation for all times to come. The challenges and the socio-economic crisis faced today in South Korea (RoK) include a declining birth rate, fast slide into a super-aged (old) society, a high suicide rate among the youth, high dust pollution in Korean cities, an economy facing a low growth rate crisis causing serious unemployment among youth leading to increased unrest, high household debt, low marriage rate, increasing difficulty of maintaining a family in Seoul, growing danger of nuclear war with North Korea, and increasing economic tensions with China.
Prof. Goel asserted to create demand for the goods and services, there is a strong case for adopting the NAW (Need, Affordability and Worth) approach to international marketing. He further said we have to adopt ‘Needonomics’ following teachings of Gita and become street SMART (simple, moral, action-oriented, responsive and transparent) Koreans and say no to greedonomics,
We need well-structured rules for all the sectors in an economy with healthy discussions on stakeholders’ points of view. There is no political angle to the knowledge of ‘Needonomics’ but peace, progress and prosperity of all, providing immediate, visible and practical solutions to the problems created by greedonomics with zero risk in experiencing the mandate for existence, believes Prof. Goel.
To work without worries about our daily life, we need real education as proper, productive and practical (3P) with use of head, heart and hands (3H), believes Prof. Goel. We have to address the problems faced by all stakeholders in the economy including consumers, producers, distributors, traders, policymakers and politicians, said Prof. Goel. We should have faith in the capabilities and capacities of Koreans with Palli Palli culture in ‘Needonomics’ based disciplined lifestyle to solve Korea’s social and economic problems advised prof. Goel.
