The Third Fundamental continues...

Hence, while we cannot opt out of the ongoing globalization process, still we have to ensure that within that process our economy is sufficiently insulated from international raiders and speculators. The globalization that we accept must also remain morally adequate. Globalization can alter values, spread disease more easily, and disrupt the family system that has been a great shock absorber in India against stress & uncertainty.

I must acknowledge that Pandit Deendayal Upadhaya had forseen the dangers of globalization and mechanical imitation of the West, long before even the process had started. In this “Integral Humanism” [1965], he outlined in embryonic form the new economic strategy that is consistent with the nation’s chitti. Dattopant Thengadi, one of the most original thinkers of the post 1947 decades, following Deendayalji’s ideas, had written a monograph on the conflict resolution required between market economy and Hindu human values. Based on his work, for the Friends of India Society International’s 1978 New York conference I had re-stated Deendayalji’s ideas in modern economic jargon in an article published by the conference organizers.

But thereafter, unfortunately, Gandhian Socialism took hold of the centre stage, and thus Integral Humanism could not be further developed into a comprehensive plan of action for national renaissance. Thus Nehruism had survived change of governments.

The time is now at hand to bury the remnants of the Soviet economic model for the future glory of India. We need to do that by adopting an alternative policy framework, for which Integral Humanism can be a beacon light.

Briefly stated, Integral Humanism recognized that in a democratic market economy, an individual has a technical freedom of choice; but the system, without safeguards, fails to accommodate the varying capabilities and endowments of the human being. Since the concept of the survival of the fittest prevails in such a system, therefore some individuals achieve great personal advancement while others get trampled or disabled in the ensuing “rat race”. We need thus to build a safety net into our policy for the underprivileged or for the disabled while rewarding the meritorious
and the gifted.

to be continued....