Integrity Score 240
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The Strategy for Economic Reform in a Globalised World continues....
Otherwise, the politically empowered poor in a democracy who are the majority will clash with the economically empowered rich who are the minority, thereby causing instability and upheaval in a market system.
Since maximum profit is enthroned as the goal in a capitalist system, the human being has to adjust to the terrific demands of technology rather than technology adjusting to the integral needs of mankind. Thus, a new economic strategy for national renaissance based on Integral Humanism, has to focus on enlightened governance and harmonious conflict resolution of the various human interests that drive the economy in different directions. Hindus have done it for centuries through varna ashrama dharma, in which the four sources of power: Vidya, simhasan, dhana, and bhoomi were not to be concentrated in any one person, but were dispersed. Unfortunately, the concept got corrupted by the adoption of birth-based caste system and untouchability, neither of which is in our vedic scriptures.
What does all this mean in practical terms? It means that in framing an economic policy consistent with our time tested value system, we must identify clearly our objectives, priorities, the strategy, the techniques of resources mobilization, and the institutional framework.
The economic perspective for National Renaissance that we advocate is fundamentally different from the other competing ideologies: Capitalism, Socialism and Communism as Table 5 above summarizes. Capitalism and Communism have similarities in matters of objectives and institutional framework. If cost of production is stabilized, then maximum profit and maximum production are identical. Again, class struggle and annihilation, and survival of the fittest, are different only to the extent that Communism envisages the survival of the ‘fittest’ class, whereas Capitalism expects the ‘fittest’ individual to engage in fierce competition and annihilate the other rivals. Similarly, Socialism has only a difference of degree with Communism – on the extent of coercion and control, and not in any fundamental respect. That is why Communism is referred to by Karl Marx as “scientific” Socialism, although there is nothing scientific about it.
to be continued...
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