Economic development means to get more money and to satisfy senses more and more. This is the modern theory. But Krsna says that to achieve the perfection of life, one should be nirasih. Nirasih means unnecessarily desiring for sense gratification, unnecessarily. Everyone has got right to live and live nicely. For that purpose there is sufficient arrangement by the Lord. Eko yo bahunam vidadhati kaman. There is sufficient arrangement. No living being will starve. There is such arrangement. But when we forget more and more Krsna and God, nature will punish. There will be restriction of supply of foodstuffs. That is nature's law.
Lecture on Bhagavad-gita 4.21, Bombay, 10 April, 1974