Economic Democracy And Inclusive Development: Interdisciplinary Perspectives On B. R. Ambedkar

Abstract

It is important to note that economic democracy is an essential factor towards social justice, sustainable inclusive development in democratic societies. B. R. Ambedkar was categorical that political democracy cannot be maintained without economic democracy that guarantees equitable access to resources, opportunities, social mobility of all classes of people in society. His economic thought also inspected obligation of state in economic matters, welfare of labour, fair allocation of resources, establishment of an institution to preserve weaker, underprivileged classes. This paper reviews what Ambedkar envisioned of economic democracy through interdisciplinary lens by viewing it through lenses of economics, sociology, political science constitutional studies. It examines the role of his concept of social justice, economic equality, state intervention within larger concept of inclusive development. The special focus is made on the opinions of Ambedkar regarding land reforms, labour rights, and the contribution made by constitutional provisions towards achieving equality and socio-economic empowerment. The paper also explains how the modern-day relevance of the economic thought of Ambedkar can be applied in solving such endemic issues like poverty and inequality, social exclusion, and equal access to development opportunities in India. Through the discussion of the intersection between economic democracy and inclusive development, it is noted that sustainable democratic governance needs to be based on the combination of political rights and economic justice. The discussion indicates that the interdisciplinary approach that Ambedkar took can still serve as a useful resource when developing policies that would help to create a more just and inclusive society.