A Review on Need for a New Economics with Special Reference to Sri Lanka.

Abstract

The aim of the survey is to find out the need of new economics, which focuses on the caring economics in the context of Sri Lanka. Basically, Caring Economics provides a genuine caring for people and nature as the uppermost priority in an economic system. The study contains a systematic literature review on caring economics that is urgently needed by policymakers and business leaders to foster personal, business, and national economic success. The conventional indicators of economic health in Sri Lanka such as unemployment rate do give absolute value of the life-sustaining activities of the household economy, the unpaid economy, and the natural economy. As the outcome of the study, it is found that there is a need for a new economics with the concern of rapidly changing technological and social conditions in Sri Lanka.