Holistic Science of Life and Living

Author(s): Vitrag Vignan Charitable Research Foundation
Publisher: Vitrag Vignan Charitable Research Foundation

Page 24

Economics And Religion
Lalabhai D. Patel*
HH HH Tay PYA....
Thou shall always keep in mind that money power may lead to havocs."
Aadi Shankaracharya
If one looks to the fundamental Principles of Economics right from Adam Smith, a reference is rarely made to the Human values or religion in Economics theories. Let us look to the evolution of Human civilization in three critical phases. The Agriculture wave, prevailed for thousands of years with the civilization centered around nature, slow pace of life, manual production by masses, village based society, joint family system etc., where the life as well as the economy was driven by social values and spiritual values.
The industrialization wave beginning with 17th century brought with it the era of mass production, profit maximization, marketing with the simultaneous evolution of modern economics forming a foundation for the industrial society characterized by mechanization, urbanization, nuclear families, speedy life etc. As the renowned futurist Alvin Toffler has remarked, the industrialization wave has brought with it a concept of looking to human being merely as a clog in a wheel of the industry and has done everything to treat the humans as one of the factors of production. i.e. Land, Labour and Capital. The man is being treated as subservient to machines. The life and economy is guided by material values and individual gain justified quoting the Darwinian biological theory of survival of the fittest.
While the industrial era has enriched the mankind in various material aspects the results are quite contradictory from the viewpoint of holistic welfare of the human civilization, to name a few:
• Mass Production v/s Rising Unemployment
• Large volume of Capital formation v/s Rising Poverty and Degrading Environment
Profit Maximization v/s Increasing incidences of Manipulations in Corporate
Governance.
*AGM (Training) at State Bank of India Learning Centre, Ahmedabad
24 Holistic Science of Life & Living Vol. I May 2014