The Impact Of Society On Law & Economics

Snehil Raj, Akash Kumar Sinha & Aastha Choudhary, Assistant Professor, Faculty of Legal Studies & Research, Sai Nath University, Ranchi, Jharkhand

ABSTRACT

Since birth, humans have been inculcated with many notions for their life forward. The parameters include good health, good people around us, good standard of living, good food etc. A capable life is measured with the status we have in the society.

It is well understood that there are two variables that is Need and Want. Need is the basic essential to live but want is our desire which cannot be fulfilled or satisfied because of human's unending ambitions. These ambitions must not be negatively perceived by the readers as because they are essential for development. Let's understand this concept very simply, a child is brought up well so that the child must compete with the society in terms of education, money and status of life so the growth is the only reason for betterment and that result to completion and hence a more developed and competent human life is established.

The present Article shall focus on how the society effects an individual to excel in different dimensions and how these individual's decisions can affect the economy of nation.

Keywords: Law, Society, Economy, Need & Want.