Hinduism and Economic Crises

Lall Ramrattan

The American Economist, 2009, vol. 53, issue 1, 35-47

Abstract: The Hindu doctrine has broad covering laws for the description and management of crises. Economic swings are covered under a theory of long cycles that parallels the Golden, Silver, Bronze, and Iron ages of the West. Order breaks down in each cycle, and society is reconstituted anew. The individuals and ruler produce, accumulate, and distribute wealth in each epoch in accordance with scriptural injunctions, and crises occur when the codes of eternal religion are broken. In the process of their everyday experiences, people are urged to adhere to the truth, to be conscious of their true nature, and to pursue happiness. The ruler is charged with managing economic affairs with proper council. Within that broad framework that has been morphing over history from foreign invasion-to-invasion, operational elements can be drawn out for any crises situation.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:53:y:2009:i:1:p:35-47

DOI: 10.1177/056943450905300106

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