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Jainism in Economic Perspective
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Ethics is more or less the same as it has been applied to other religions while assessing their economic aptitudes. Max Weber published his famous study of the Protestant Ethics and the Spirit of Capitalism'in 1905. Ever since there has been controversy about the impact of religious belief on the economic actions of mankind. Religion preaches several moral conceptions which are responsible, directly or indirectly in shaping the values of its followers. The natural corollary in shaping the values of its followers. The natural corollary of this phenomenon is that it is not possible to isolate on individual's economic actions with his ethical beliefs. The honesty of Jaina traders is famous and honesty is useful because it builds the very basis of credit; therefore one ought to be honest. Their wealth is also famous; formerly it has been maintained that more than half the trade of India passed through their hands.
The second important characterstic of Jainism is its emphasis upon thrift. A notable thriftiness-pushed by Jainism to sheer asceticism-combined with the concept of the fulfilment of earthly duty as the highest purpose of life, could not but bring about the formation of capital. Weber in his Protestant Ethics and the Spirit of Capitalism quotes John Wesley : “The Religion must necessarily produce both industry and frugality, and these cannot but produce rickes. The compulsory saving the asceticism worked also among them towards the use of accumulated possessions, as investment capital rather than as funds for consumption or rent. On the basis of these and many more other ideals it is not very difficult to find out the nosegay of prosperity and economic responsibility in Jainism".
Jaina ethical ideals with their economic implications :
While delivering lectures on "The Ancient Foundations of Economics in India' Prof. K.T. Shah had very truly pointed out that it consequently happens that our hoary ancient past is shrouded in the haze of legend, or lost in veil of mystery. The principal actors moving and acting on an enormous stage-as vast as it is varied-are but shadows dimly seen through clouds of myth or marvel; their action unaccorded, their motives unintelligible. But the very lack of blazing publicity and confusing comment, so dazzling a characterstic of modern times, makes for an easier appreciation of such material as is available or can be traced. The present subject will
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