Swasti panthaam anucharema Suryaa Chandramasaaviva (We move along
a path of welfare like the Sun and the Moon
--Swasti Suktarn in Rug Veda)
John H Dunning (2003) in his essay 'Making Globalisation Good--The Moral Challenges of
Global Capitalism' with a foreword by the Prince of Wales. The question here is
: Will ultimately globalisation in its true sense come to prevail, or whether
the diverse societies with their own individual cultures, values and rigid
traditions continue to remain segregated blocking the globalisation? David
Loy's paper on Eastern religions is basically on the perspective of Buddhism.
Deepak Lal's paper briefly touches Hinduism. (G Narayana) Very moderate levels
of satiation in consumption and austerity in living are common hallmarks of
Hinduism and Buddhism. @Refute @Loy (2003) says, "... emphasis on caste
obligations based on caste differentiation, which remains a major problem in
India today, has also meant caste restraints on economic freedom (eg.
entrepreneurship), which continue to complicate inter-caste relationships and
limit economic growth. It also explains why Hinduism has not been very
successful in non-caste cultures outside India, and why that tradition may have
less to contribute to the debate on the globalisation of capitalism". Loy
also says later, "we cannot look to traditional Buddhist texts for
perspectives on specific economic issues, such as the globalisation of
capitalism". What is meant by unsuccessful Hinduism in non-caste cultures
outside India and what is criteria of being successful or unsuccessful?’ If
success or globalisation implies spreading across several regions of the world,
several religions seem to have been doing this for centuries!’
Thengadi (1993) says there is no basic difference between the
'Buddhist' economics and the 'Hindu' economics. So Loy’s assertion is also
wrong.Niether it is true that (a) traditional Buddhist texts do not provide
perspectives on specific economic issues, nor it is true that (b) Hindu
tradition may have less to contribute to the globalisation debate. His views on
caste being hindarance are also just opposite of the truth. There is now plenty
of evidence on how this varnavyavstha and sreni vyavstha helped Indian economy
and fostered entreneurial spirit. Deepak Lal (2003) says that agrarian
civilisations were not conducive to modern economic growth, and capitalism does
require moral behaviour which may be brought about by the influence of the
behaviour of the governments, NGOs etc., this again is not quite complete
truth.
In fact private entrepreneurship, markets, external trade, governmental
regulations etc. were well-known features of economics for the traditional
agrarian India under Hinduism. They strived to sustain the countries' own
morals and ethics intact through royal interventions. However, Lal is precise
when he says that modernization and globalization are possible without
westernization; He says: "If one does want to strengthen morality, it is important
not to undermine its traditional mainsprings in the non-Western part of the
world in the name of a mistaken belief in a universal Western ethic. For, it is
possible for countries to modernise (i.e., embrace capitalism) without
Westernising (i.e., accepting the West's morality--its cosmological beliefs).
In fact, if one looks at the non-Western world, the moral foundations of
most--though by no means all--have remained remarkably intact over the years.
It is in the West that there is growing doubt about its fractured and
incoherent morality."(Lal) ‘Under the name of globalisation or global
capitalism, inappreciable morality and alien cultures are thrust on all sorts
of countries destroying their domestic institutions and bulldozing native cultures,
global capitalism would certainly not be welcome. After all, people need bread
only to live, they don't live for bread alone.’(Narayana)
Hinduism or Indian culture tells about the Debts or rin which every individual
has to repay before he can go for his or her own salvation.
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