Saturday Brain Storming Thought (250) 23/11/2024

SANATAN ECONOMICS

Sanatan Economics deals with ethical principles, self-sufficiency, balanced economic growth and responsible use of resources while considering the broader societal and moral context of economic activities

The study of Sanatan Economics enlightens the path for the betterment of societal economic change

Sanatan Economics is also known as Hindu Economics

Meaning of Sanatan

The word sanatan started being used in the Bhagavad Gita, and refers to knowledge of the soul, which is eternal, ancient, venerable or inshakeable

Meaning of Economics

Economics is a way of using scarce and limited resources to satisfy unlimited wants

Key concepts of Economics

1) Scarcity

2) Supply and demand

3) Costs and benefits

4) incentives

Sanatan Money

It is the money that comes without violence and from the space of oneness

Types of Sanatan Wealth

1) Sangha Nidhi (Community Wealth)

Sangha Nidhi comes from enriching others and collectively creating wealth

2) Paduma Nidhi (Lotus Wealth)

Paduma Nidhi comes from the flowering inside – creativity

3) No other form of wealth is recognized

Today’s Currency

1) Currency today is used by the government to steal money from citizens

2) By printing more and more money, the value of existing money goes down and the Government has currency to spend

Sanatan Currency

1) Kings giving more and more gold to temples

2) The gold was taken out of circulation and this increased the value of the gold held by the people

3) Gold is the currency that was defined by Param Shiva

4) The gold in the temple constantly reminded people about the enlightened science of creating wealth from your own self

Layers of Sanatan Economics

1) In the first layer, anything that does not decrease in value by being shared should be freely available

ie Education, Natural resources

That way the growth of the individual and the growth of the society is aligned

2) Secondly, anything required for day to day living should be paid for using barter

ie Clothing, food, shelter

This encourages an active lifestyle for everyone and people cannot use their stored wealth to create scarcity for others basic needs

3) In Sadashivas economy, stored currency or Gold only comes into play for other goods that are for luxury or entertainment or otherwise not essential

Today’s Economics

1) Education and health care are extremely expensive and un-affordable

2) Placing daily needs and luxury goods in the same bucket

3) The cost of essential goods is subject to tremendous ups and downs leading to poverty and deaths due to starvation and non availability of medical care etc

4) Individual development and investment into the future generations are available without any economic considerations

5) People at the top hierarchy are expected to work completely out of inspiration and enthusiasm to enrich the world without any vested self interest

6) It is ensured that the people at the top will not exploit the system continuously in their own favor

7) Sanatan Economic principles make a human being rich

Sanatan Economics Policies

1) Economic policies and practices strive for the betterment of society

2) Ensuring prosperity is equitably distributed and not concentrated in the hands of a few

3) Creating a level playing field for all participants in the economy

4) Fostering an environment where everyone can contribute their talents and skills and share in the fruits of their labor

5) Commitment to social justice

6) Ensuring that basic needs like food, shelter, healthcare and the education are accessible to all members of society

7) Promoting inclusive growth and reducing economic disparity

8) Sanatan Economics can create a more stable and harmonious social order

Central to Sanatan Economics

1) Dharma

2) Artha

3) Kama (desire)

4) Moksha (liberation)

Concept of Dharma

1) A multifaceted term encompassing righteousness, duty and ethical conduct

2) It prescribes a way of life that ensures both individual and collective well being

3) Dharma translates to fair and honest dealings

4) Dharma avoiding exploitation of resources or people

5) Dharma fulfills one’s obligations to society

6) Dharma emphasizes building a just economic system that benefits all participants, not just the privileged few

Concepts of Artha

1) Artha refers to material well-being and prosperity

2) Artha acknowledges the importance of economic security in meeting basic needs

3) Artha is important in pursuing a fulfilling career and contribution to society

4) Pursuit of wealth should never be at the expense of Dharma

5) Material success should be achieved through righteous means, respecting the environment and social well-being

Concept of Kama (desire)

1) Kama is also integrated into the framework

2) Kama refers to the desire for fulfillment and enjoyment in life

3) Sanatan Economics recognizes that desire motivates economic activity

4) Kama emphasizes the importance of distinguishing between true needs and fleeting wants

5) True fulfillment comes not from mindless consumption, but from using resources wisely to experience joy, creativity and a sense of purpose

Concept of Moksha (liberation)

1) Sanatan Tradition recognizes Moksha (liberation) as the highest goal of human existence

2) It is a state of freedom from suffering and the cycle of rebirth

3) The concept of seeking liberation can influence our economic priorities

4) Moksha encourages us to avoid materialism and prioritize experiences, relationships and personal growth over the endless accumulation of wealth

5) By striving for a balance between material security and spiritual well-being, we can live a more fulfilling and purposeful life

Varna Vyavastha (Social Order) as per Sanatan Economics

1) Brahmins (Priests and scholars)

Inclined towards knowledge, teaching and spiritual pursuits

2) Kshatriyas (Warriors and rulers)

Possess qualities of leadership, valor and administration

3) Vaishyas (Merchants and farmers)

Endowed with a commercial aptitude and drive to excel in agriculture, trade and business

4) Shudras (Skilled laborers and service providers)

Shudras are well-known for their skills an manual labor and service

The Verna system in its idealized form proposed a social order where everyone contributes to the well-being of the whole according to their inherent qualities and skills

This social order aimed to promote efficiency, stability and cooperation within the community

Aparigraha (Non-possessiveness) as per Sanatan Economics

1) Aparigraha, the concept of Non-possessiveness, plays a central role in the Sanatan Economics

2) It goes beyond mere frugality and instead emphasizes a deeper detachment from material possessions

3) Aparigraha influences economic behaviour in this framework

4) Aparigraha discourages excessive consumption by fleeting desires

5) Aparigraha promotes mindful buying, focusing on acquiring only what’s truly needed for a fulfilling life

6) This reduces strain on resources and promotes a more sustainable economic system

7) Aparigraha encourages finding fulfillment in experiences, relationships and personal growth rather than accumulating possessions

8) This shift in focus promotes a more sustainable lifestyle and reduces the pressure for constant economic growth fueled by consumerism

9) Detachment from possessions allows for greater generosity (Dana)

Public Welfare through Sanatan Economics

Economic decisions should consider the well-being of the entire community, not just self-interest

Sacrifice due to Sanatan Economics

This doesn’t solely imply rituals

It signifies contributing to the larger good through philanthropy, charity and social responsibility

Satwic Living in Sanatan Economics

1) Concept of Satwik living plays a significant role in shaping economic behaviour and decision-making

2) Ethical Conduct – Fair trade practices, honest pricing and avoiding exploitation of resources of workers

3) Businesses are encouraged to operate with transparency and social responsibility

4) Conscious consumption, focusing on quality over quantity and avoiding unnecessary purchases driven by fleeting desires

5) Living in harmony with nature

6) Satwa emphasizes achieving inner peace and clarity

7) Supporting local, sustainable businesses

8) Making conscious food choices that are healthy and promote well-being

9) It could involve consuming organic produce, supporting local farmers and reducing food waste

Panch Mahabhuta as per Sanatan Economics

1) Akasha (Space)

This element signifies openness, creativity and the potential of limitless possibilities

Akasha can inspire innovative solutions that address economic challenges sustainably

It encourages us to consider the bigger picture and the impact of economic activity on the entire system

2) Vayu (Air)

Vayu represents movement, flow and exchange

The importance of efficient movement of goods and services, fostering a dynamic and adaptable economic system

It can also encourage open communication and collaboration within the economic sphere

3) Tejas (Fire)

Fire embodies energy, transformation and purposeful action

Tejas, prioritizes activities that generate and utilize energy responsibility

It promotes renewable energy sources and sustainable production process

Tejas can also inspire entrepreneurship and innovation to drive economic growth

4) Jala (Water)

Water signifies adaptability, flow and nurturing

Jala emphasizes practices that adapt to changing circumstances and economic climates

It encourages a balanced approach to resource utilization, ensuring resources are used efficiently and replenished for future generations

Jala can inspire economic policies that promote social well-being and a sense of community

5) Prithvi (Earth)

Earth represents stability, foundation and nourishment

It prioritizes economic activities that nurture the earth and its resources

This can involve sustainable agriculture, responsible land management and minimizing waste

Prithvi emphasizes building a strong foundation for a long-term and sustainable economic system

Non-violence as per Sanatan Economics

1) Fairness

2) Peaceful trade

3) Sustainable practices

4) Respectful workplaces

5) Trusteeship

6) Intergenerational equity

7) Environmental sustainability

8) Resource management

9) Community well-being

Simple Living and High Thinking as per Sanatan Economics

Finding fulfillment beyond material accumulation

Kula Dharma (Family Duty) as per Sanatan Economics

1) Skilled trades and hereditary knowledge

2) Mutual support

3) Community Collaboration

Karma-Phala (Law of Action and Reaction) as per Sanatan Economics

1) Ethical Conduct

2) Long-term thinking

3) Social responsibility

Deification of Work (Shram) as per Sanatan Economics

Sanatan Economics does not necessarily deify work (Shram) in the sense of glorifying excessive busyness or prioritizing work over well-being

Just Taxation (Raja Swam) as per Sanatan Economics

In Sanatan Economics taxes are

1) Fair and Equitable

2) Used for Public Good

3) Efficient collection

COMPILED BY:-

Er. Avinash Kulkarni
9822011051

Chartered Engineer, Govt Regd Valuer, IBBI Regd Valuer