ECONOMIC ORGANISATION
It is not sufficient that human society use its technology to produce the means of life. What is required in addition is that it distribute the instrumentalities and the products among its members in an orderly and efficient way. If men obtained goods solely through unrestrained cunning and ruthless struggle, there would ensue a state of social chaos in which actually they could obtain no goods at all for technology, security, in fact all culture would have disappeared. The more complex the society, the more its destiny rests on the distributive relationship: its members have more goods but they also have lives rest increasingly upon the exchange as opposed to the production of goods. The basic ideas, norms, and statuses which govern the allocation of scarce goods in any society, whether the society be primitive or civilized, there should be some feeling of rightness, some mutual tolerance must be maintained.
DEFINITION OF ECONOMIC ORGANIZATION
Madan and Majumdar define economic organization as, “it consists of the ordering and organization of human relations and human effort in order to procure as many of the necessities of day-to-day life as possible with the expenditure of minimum effort.”
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