Lecture by Narayana Rao K.V.S.S. on 10 February 2016
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Ekatma Manav Darshan Alternative to Capitalism - Part 1
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Ekatma Manav Darshan and Capitalism - Full Lecture - Audio
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Before I start the topic proper, I would like to point out four things from a personal perspective.
I thank the organizers of the seminar for giving an opportunity to me, to present my thinking on the topic. This responsibility to stand before an audience comprising some senior thinkers and authors on Deendayal’s philosophy gave me the energy to read literature related to the topic of the seminar. It benefitted me personally in the first instance to know more about the topic and continue reading and thinking on the issue.
Second, I have to think of persons who helped me in starting Deendayal Vichar Manch in Kakinada in 1992. We had some meetings and bought some books at that time. That early effort is helping me today. I thank them.
Third, I would like to tell you regarding my background in the field of economics. My education is basically in mechanical engineering. My post-graduation is in industrial engineering and this subject has more content in the fields of economics, accounting and finance. Industrial engineers have the responsibility of doing economic analysis of various investment proposals of engineering organizations and come out with ideas to reduce capital cost, operating cost and improve return on investment through suggesting better technical alternatives. My Phd is in the area of financial economics and I worked under a renowned Professor in Economics, Prof L.M. Bhole. He has significant contributions in Monetary Economics, Financial Economics and Gandhian Economics. My background in industrial engineering and financial economics in the area of equity investments make me have a special focus on investment in physical assets and equity instruments. This has connection to entrepreneurship. Entrepreneurs and intrapreneurs search the environment and come out with profitable investment opportunities. Whenever the return on such investments is higher than current rate more investment is made by people and this leads to increase in growth in production and income. We would discuss the economic policy suggested by Shri Deendayal regarding investment when we describe the policy prescriptions of ekatma manav darshan.
Fourth point I would like to emphasize is my present thinking the on the economic progress of the nation. When Prime Minister Narendra Modi had put the question to people of India, Can’t we dream of 20 trillion dollar Indian economy?, I heard it and checked its feasibility. With my understanding of macroeconomy and microeconomy, I came to the conclusion that it is a feasible dream. Most of the top economists and investment experts are talking about high growth of India. We invested adequate amount in the past to achieve the expected or required growth and we can do it every year in the years to come. Presently we have a Prime Minister who understood the working of the economic system and improved the performance of the economy in Gujarat and now the country is under his stewardship. Today, his plan of cooperation between centre and states and competition among states to spur the development of their region is being actively pursued by all the states. We require the genuine involvement of large number of people of various professions to convert the present opportunity into realized wealth, i.e., a strong production system of goods and services for India. I maintain number of blogs in the areas of industrial engineering and management and I write about potential for India’s development and measures to implement “Make in India” project in my blog Guide-India.blogspot.com.
I am sure the topics of the seminar today and the topic we are now discussing “Ekatma Manav Darshan & Capitalism” has something to contribute to the achievement of the dream of Param Vaibhav Bharat. India was a very prosperous country for many centuries. But, then the native Indians lost some battles and wars and became people who have to pay extra taxes to live in their own land and maintain the luxurious living of people belonging to England. The leaders of this society were subjugated. Bharat Mata suffered because, her children capable of promoting Jnana Yoga, and Raja Yoga were put in chains. But the ethos of this country helped some people to break their chains and provide leadership again. We are now fortunate to reach and occupy the shore of a sea of opportunity. We have to put in place an economic system which will help us to achieve our objectives by utilizing this sea of opportunity. Deendayalji’s policy prescriptions certainly help us in this regard.
Coming to the topic, Let us examine the system of capitalism. The economic historians say the idea of modern capitalism was developed by Adam Smith. Adam Smith developed his argument to promote the idea that the then existing systems of economy, Mercantilism and Physiocracy were not the right systems for increasing the wealth of a nation. Mercantilism was advocating state regulation to increase exports and reduce imports and also to export certain commodities and to import certain commodities. It is also advocating state regulation to ration or limit the number of producers/merchants and the amount of raw materials they can buy and store and the number of people they can employ. Mercantilism was advocating state regulation and was arguing that it will increase the wealth of the nation.
Physiocrats were more concerned with land as the chief productive resource and they are concerned with importance to be given to land and its use.
Adam Smith has emphasized the role of market where buyers and sellers meet and decisions to exchange goods and money are made on the basis desires of producers and consumers. Whether food items that come from land are important or other items produced by using hands and raw materials and machines and raw materials with very less use of land are important is determined in the market place exchange. Markets can fix prices on their own and state need not fix prices based on the production cost. People make mistakes in markets and thereby suffer losses and modify their thinking and actions. Markets become penalising institutions by creating shortages and surpluses that cause unexpected losses to producers or consumers. Capitalist system based on individual freedom to consume or produce was accepted by many countries in the world and it delivered growth in wealth and incomes. No doubt the shortages and surpluses that were part of the system, resulted in huge price increases for certain commodities at some points in time causing tremendous hardship to consumers accustomed to using them for generations. Similarly, there was surplus goods that resulted in closure of number of productive establishments that resulted in huge unemployment of people with specialised skills accustomed to certain periodic expenditure. Business men suffered losses and therefore could not pay back their loans. The economic system has created prominent failures that led to suicides.
The capitalist economic system also created huge economic disparities, as capital can be created to an unlimited extent in contrast to land which is fixed in nature. The capitalists also exploited the labour ceaselessly, as the capital that can be created has no limit in theory. The labour class was exploited in various ways and this led to development of Marxist thought. Marx developed the theory that a person who feels exploitation starts a counter action. In the capitalist system, labour is exploited most and hence labour will start a revolution to change the system. The system Marx advocated has the feature that capital is owned by the state or society. It became the socialist system. Lenin could lead a successful revolution in Russia using the theories of Marx as the foundation. The revolution was exported successfully to more countries. The socialist thought of Marx found admirers in capitalist economies also and governments started owning increased amounts of capital.
Huge inequity in wealth and income, motivation to exploit labour and the consumers by the well- endowed capitalists, business cycles resulting in shortages and surpluses are the chief problems of capitalism. The problems of capitalism were identified and discussed and some alternatives were provided by western thinkers themselves.
I would like to stress at this stage that any criticism of capitalism by Deendayal Upadhyay was only reiteration of the criticisms by the western thinkers themselves. You need not doubt that the criticism was developed by Shri Deendayal was only for the sake of criticism. You can read the standard textbook on Economics by Nobel Prize winner Paul Samuelson (Chapter Alternative Economic Systems) to notice all the critical statements.
What is the economic alternative suggested by thinkers of Ekatma Manav Darshan? We identify Shri Deendayal Upadhyay as the person who systematized the basic ideas now termed as Ekatma Manav Darshan. Further elaborations and explanations were provided by Shri Guruji, Shri Dattopant Thengadi, Prof Subramanian Swamy, Prof Ashok Modak, Shri Ravindra Mahajan, Shri Aserkar, Dr. Mahesh Sharma, Shri Bajrang Lal Gupta and others. There are contributions from academic research community also. I referred to some of them. But in this talk I would like to restrict my focus to the policy prescriptions made by Shri Deendayal in his fourth lecture.
My argument in this portion of my lecture is that the policy prescriptions made by Shri Deendayal in his lecture entitled “Economic Structure Suited to National Genius” are logical and can be applied without any great obstacles. No doubt as Shri Deendayal himself points out every economic action has to be undertaken based on socio-economic cost benefit analysis. The action has to be based on facts we call data and analysis that tells us that there is economic benefit to the society.
The important points made are:
1. The economic system must help in the development of every human being (who is born ignorant and helpless) into God-like being (Divine being). As we know, each of us start as an infant and become a person like sanyasi who desires less from the people around but does lot for the society. No doubt in the last stages of life, most of the persons may not be able to do anything. That is why people have start helping others as soon as possible and increase the quantity to the highest level when they have the energy in their body.
2. Economic system of the nation has to be designed to provide all human necessities and goods and services required to protect the nation from aggressors. In addition to these, there has to be objective of helping people of other nations also.
3. Production system has to understand the limitation of the nature and only milk it and leave it in an able state to provide future generations also the resources. The biodiversity in nature that keeps certain desirable properties of the nature in proper quantities has to be understood and preserved.
4. In the production system only a limited number work and they have to provide all the facilities to the remaining population. Children, old people, housewives have to be provided all the facilities required by employed persons. So the system has to recognize that people with ability, work and provide to all. A man works not only for his bread alone, but also to provide for the needs of all others who are dependent on him.
5. Education is compulsory for all children. The economic system has to involve both family members and society to see to it that children are provided with adequate education. Education is a social responsibility along with it being the responsibility of parents.
6. Adequate medical facilities have to be there in the economic system and even free medical treatment has to be provided.
7. Everybody who wants to work must find employment in the economic system.
8. Capital formation has to take place and it will be good if every person can see the capital that is formed due to his effort. When the capital formed due to a person is credited to his account only, he will not feel that he is being exploited by people creating capital. Therefore a system is to be designed that accumulates a certain amount of capital in the account of every person who is working.
9. We have to employ machines to the extent we relieve workers from the burden and increase productivity. Machines should not replace labour and make them unemployed. Buying and installing machines have to be planned in such a way that they do not displace existing workers. New employment must come up with new investment as needed by the society.
10. Seven ‘M’s are to be properly understood and employed optimally in the production system. These are 1. Man 2. Material 3. Money 4. Management 5. Motive power 6. Market and 7. Machine.
11. The ownership of capital can be with the state, individuals or any other entity based on pragmatic or economic analysis.
12. Swadeshi and Decentralization are the two words that characterise the economic system to be designed for India.
Swadeshi means increase or improvement of all parameters of our Swadesh. Some of these parameters are GDP, National Income, Per capita income, literacy rate, life expectancy etc. Decentralization of power of allocating resources is required to ensure effectiveness and also efficiency. According to my studies, India needs to invest Rs. 55 lakh crore in 2016-2017. This means on an average investment of Rs. 10,000 crore has to take place in every parliamentary constituency. Lok Sabha members are the representatives of people interacting with the political executive as well as public administrative service executives. They have to take up the task of facilitating this investment target in the constituency. They have to arrange for interactive sessions with other representatives of people, mayors, municipal chairmen, panchayat presidents, local organizations belonging to agriculture, industry, services, academicians and researchers to identify investment opportunities and set up organizations to increase production of goods and services. There is clear existing opportunity for MPs and MLAs to take initiative and guide development in a decentralized manner in the country. I think, as a part of NITI Ayog budget, each MP is given say Rs. One crore per year to organize development related seminars and publish its proceedings in print, broadcast and online media. Such an activity makes discussion related to development a local issue and people come to know of their role in providing themselves with goods and services through various special organizations and their family production units.
Deendayalji concluded his lecture by saying that we have to revitalize our culture to make it dynamic and in tune with the times (Yuganukul) so that our society is enabled to live a healthy, progressive and purposeful life. We have to produce such institutions as will kindle a spirit of action in us.
Let us turn our attention to analytical imperatives suggested by Deendayalji.
Machine: A machine developed internally or imported must provide economic return. Machines have to be brought only after proper economic analysis that indicates adequate expected profit.
Idle machine is losing proposition to an industrialist. Similarly idle manpower is losing proposition to the society. Full employment of all willing people of the society has to be the primary objective of economic planning and technology choices have to be made with full employment as a constraint.
There has to be advance planning for the skills required for the technologies to be implemented. You should not keep your recently acquired machines idle because required skilled manpower is not there. You should not bring foreign technicians.
Availability of raw materials has to be assessed and then only investment decisions are made to optimally utilize available resources.
Capital formation has to be planned. Available capital has to be appropriately allocated to fixed capital and working capital.
Economic energy forms are to be used based on their availability. Energy productivity analysis is to be done and energy input has to be minimized.
We have to educate and develop managers/leaders. If we cannot develop people who can coordinate at least a dozen people, all other resources remain underutilized and we will underperform other nations.
Good understanding of the consumers’ requirements has to be there in the economic system. The economic analysis has to be based on the preferences indicated by the people.
Bharatiya technology has to be developed. Technology suited to optimal utilization of our resources subject to the constraint of full employment of persons with the desire to work is Bharatiya technology. Swadeshi ideal demands that we develop and employ Bharatiya technology.
I feel the policy prescriptions made by the proponents of Ekatma Manav Darshan are practical and productive. We need to apply them in our economic practice at microeconomic level and ask the representatives of people and the politicians in government to implement them in macroeconomic decision making. It is only through writing memorandums and engaging in dialogue process that we can enrich the economic thought based on Ekatma Manav Darshan and also come across difficulties likely to come up during implementation.
During my reading of various articles and research papers, I came across the framework of capitalism outlined by a Harvard Professor with self interest and freedom as the two input variables. I modified the framework to reflect the commonly known Indian social values and the associated ways uplifting oneself.
The framework is Inputs (behavioural) – Economic System (Society, Govt., Business, Trade Unions) - Outputs
Economic Model Based on Ekatma Manav Darshan (Integral Humanism)
|Self Interest, Others' Interests, Freedom subject to Principles of Dharma|
| (Kama), (Moksh) (Dharma) |
Leads to
| Individual learning, Individual Activity, Increase in Knowledge, Innovation, Social Activity,
| (Dharma), (Karma) (Jnana)
Major Adventures (Public and Private)|
(Rajayogic ventures|
In turn leads to
|Growth in Wealth, Social stability, Socially Committed People|
| (Artha, (Bhakti) |
I posted the model in my blog and circulated it to large number of people for comments. I request to go through the model at leisure and give your comments on how we can refine and explain the components of the model.
Thank you for the patient hearing and look forward to your comments and suggestions first and then your raising specific points that need more clarification.
Ekatma Manav Darshan & Capitalism by Dr. KVSS Narayana Rao
Economic Model Based on Ekatma Manav Darshan (Integral Humanism) by K.V.S.S. Narayana Rao
First Published on 24 January 2016, 1.52 pm (Indian Standard Time)
|Self Interest, Others' Interests, Freedom subject to Principles of Dharma|
| (Kama), (Moksh) (Dharma) |
Leads to
| Individual learning, Individual Activity, Increase in Knowledge, Innovation, Major Adventures|
| (Dharma), (Karma) (Jnana) (Rajayogic ventures|
In turn leads to
|Growth in Wealth, Social stability, Socially Committed People|
| (Artha, (Bhakti) |
Ideas for enlarging the model.
In the intermediate step we can include activities of Consumers and Social Sector Organizations, Government and Political Parties, Business Organizations and Trade Unions. Thus we identify and bring activities of people in the society into the model.
Bhakti can be interpreted commitment to the society, commitment to the organizations and to the people managing the organizations. Commitment will come only when people take care of desires of other people (stakeholders) apart from their own.
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This book attempts to present a roadmap for the re-devlopment and re-construction of a nation as diverse and as huge as India. The roadmap takes into account India's unique histrory, culture and ethos. The ideas and concepts presented in this book are of Pandit Deen Dayal Upadhayaya. This book is also a tribute to a rishi like Deen Dayal on his 100th birth anniversary.
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Baldev Raj Nayar
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Jean-Jacques Lambin
Palgrave Macmillan, Mar 14, 2014 - 312 pages
The 2008 crisis has shaken public trust in the market economy and several economists believe that, to drive recovery, new models of capitalism must be embraced. Will society develop and implement a new balance between state, business and society? How can we amend the capitalist system dominated by the neoliberal doctrine and adopt economic mutations without altering the core principles of a free market economy?
Rethinking the Market Economy explores the changing socio-economic and technological landscape of the twenty first century and what it means for the firm. The lack of vision of tomorrow's political economy system generates uncertainties and undermines the democratization process of Europe and the World Economy. This book adopts an industrial economic approach and is clearly business-oriented, whilst proposing a road map leading to the adoption of a 'societal market economy' model as an appealing and politically acceptable 'third way' between capitalism and socialism.
The main shortcomings of conventional capitalism are presented with their managerial implications for the market-oriented firm. The analysis is transversal and intersects with different kinds of disciplines: economy, sociology, political science, social psychology, strategic management, giving to the reader an interdisciplinary and comprehensive coverage of the topic. This book is well documented and provides a good coverage of the academic and professional related literature.
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Heiko SpitzeckCambridge University Press, Feb 26, 2009 - 438 pages
What is the purpose of our economic system? What would a more life-serving economy look like? There are many books about business and society, yet very few of them question the primacy of GDP growth, profit maximization and individual utility maximization. Even developments with a humanistic touch like stakeholder participation, corporate social responsibility or corporate philanthropy serve the same goal: to foster long-term growth and profitability. Humanism in Business questions these assumptions and investigates the possibility of creating a human-centered, value-oriented society based on humanistic principles. An international team of academics and practitioners present philosophical, spiritual, economic, psychological and organizational arguments that show how humanism can be used to understand, and possibly transform, business at three different levels: the systems level, the organizational level and the individual level. This groundbreaking book will be of interest to academics, practitioners and policymakers concerned with business ethics and the relationship between business and society.
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V.P. VarmaMotilal Banarsidass Publ., Jul 1, 2006 - 211 pages
An attempt has been made in this book to reconstruct idealist humanist philosophy on the basis of Eastern and Western metaphysics and the natural sciences. It supports the basic principle of ethical absolutism as opposed to relativism. It analysis the fundamental principles of humanist political thought with reference to sovereignty, obligation and rights.It is hoped that policy-makers and planers in the developing countries will find here an integral world-view and exposition of concrete technics to meet the challanges of the hour.
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Robert Albritton, Shannon Bell, Richard Westra
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The major problems facing the world as it gets used to the twenty-first century are global inequality, poverty, war and militarism, oppression, exploitation and ecological sustainability. Far from solving these problems, economic and political neo-liberalism seems to be plunging us deeper into them. Diverse opposition movements have arisen over the years to combat these problems, which the groups generally consider to be the result of "globalization". These opposition movements suffer greatly from being opposed to lots of things without necessarily putting forward realistic alternative suggestions. This impressive new book seeks to analyze and develop serious alternatives to the status quo. With contributions from a wide range of scholars, this important book will provide a uniquely varied outlook. Students and academics involved in international politics and economics as well as general readers with an interest in the anti-globalization movement will find this work incredibly useful.
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Thomas Blom HansenPrinceton University Press, Mar 23, 1999 - 304 pages
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The rise of strong nationalist and religious movements in postcolonial and newly democratic countries alarms many Western observers. In The Saffron Wave, Thomas Hansen turns our attention to recent events in the world's largest democracy, India. Here he analyzes Indian receptivity to the right-wing Hindu nationalist party and its political wing, the Bharatiya Janata Party (BJP), which claims to create a polity based on "ancient" Hindu culture. Rather than interpreting Hindu nationalism as a mainly religious phenomenon, or a strictly political movement, Hansen places the BJP within the context of the larger transformations of democratic governance in India.
Hansen demonstrates that democratic transformation has enabled such developments as political mobilization among the lower castes and civil protections for religious minorities. Against this backdrop, the Hindu nationalist movement has successfully articulated the anxieties and desires of the large and amorphous Indian middle class. A form of conservative populism, the movement has attracted not only privileged groups fearing encroachment on their dominant positions but also "plebeian" and impoverished groups seeking recognition around a majoritarian rhetoric of cultural pride, order, and national strength. Combining political theory, ethnographic material, and sensitivity to colonial and postcolonial history, The Saffron Wave offers fresh insights into Indian politics and, by focusing on the links between democracy and ethnic majoritarianism, advances our understanding of democracy in the postcolonial world.
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Parmatam Parkash Arya, B. B. TandonSeminar Proceedings
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Love your fellow beings. This is bhakti.
Jaya Row, in the article "Successful People Look Beyond the Obvious" published in Times of India on 16 July 2016, wrote, "Feel universal love, free from selfishness, expectations and demands. Love your fellow beings. This is bhakti. Swearing love to an unseen God when you hate people around you is not devotion."
http://www.speakingtree.in/article/successful-people-tend-to-look-beyond-the-obvious
What Will Replace Outdated Left and Right Economic Thinking? The Commons Paradigm
By David Bollier2017 September 30
http://evonomics.com/will-replace-outdated-left-right-economic-thinking-commons-paradigm/
Updated on 2 October 2017, 16 July 2016, 10 Feb 2016, 1 Feb 2016
