Professor Mehta has defined the meaning of economics while following Mahatma Gandhi’s principle of simple living, high thinking. Mehta has said that minimizing the needs is a financial problem.

According to Mehta, the definition of economics is as follows : “Economics is a science which studies that human behaviour which attempts to attain the objective of the state of wantlessness.”

The necessity is infinite, unlimited, and as soon as a requirement is met, the second requirement is born immediately. Therefore, Mehta has considered the state of wantlessness as the ultimate goal while following the ‘tenet of Santosh Param Sukham’, the pillar of Indian culture. Mehta considered the state of satisfaction only as a situation of wantlessness in economics. The state of the wantlessness of Professor Mehta is not the state of non-action. In his words, the wantlessness is never the actlessness. When you follow a policy of wantlessness, economic actions do not stop. Changes can be made on the ideal of wantlessness in the production and consumption of goods and services.

This situation does not mean that we stop drinking or eating food, and neither does it mean to stop earning income. All these tasks, which are necessary, have to be done with a selfless purpose. Professor Mehta has also presented the necessity of persistence in the perspective of the principles of Gandhiji is Trusteeship. Only then is the end of these problems possible.