Economy and Spirituality

The slump in the economy has distressed the common man. Although the government is doing whatever it can to stop the nosedive of the economy and put it on the growth track, success has been elusive for a while. Along with various financial reforms, fiscal measures that the government is trying to adopt, spirituality too has an interesting role in restoring economic growth. Most people would think that spirituality would decelerate a person on material progress. Then how can it contribute to falling GDP numbers? But as one carefully studies the fundamentals of spirituality, one understands that it plays a major role in the financial well-being of society — so long as the spiritual masters and practitioners are educated and informed genuine people. Scriptures like the Ishopanishad advise not to accumulate things after utilising one’s quota. The Bhagavata says the Kali (The ‘Kaliyuga, the age of quarrel’ personified) stays in where gold is hoarded. Clearly, the emphasis is on the flow of liquidity. Scriptures explain, a person should only possess as much as he needs and distribute the wealth for a higher cause. Kings and wealthy merchants would utilise their wealth for higher causes that would help in maintaining the peace. Among the reasons for the economic slowdown is a conservative attitude in spending, bringing slowdown to the manufacturing and service sectors. Spirituality encourages us not to hoard the wealth but to spend for the higher cause.

Source: Economic Times, 19/02/2020