Economics with Spiritualism and Ethical Businesses are Needed

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Ethics and Responsibility > Best Practices > Economics with Spiritualism and Ethical Businesses are Needed

Economics with Spiritualism and Ethical Businesses are Needed
S Shyam Prasad, Professor, India, Member
Many economists have forwarded different solutions to overcome the human sufferings and lead them to happiness, such as:
- Capitalism
- Socialism
- Communism
- Mixed economy
- Keynesian
just to name a few.
Yet till date the success seems to elude us:
- On one hand hunger, poverty, death due to starvation, unemployment, inflation and many such evils are prevalent in many parts of the world
- On the other we have over exploitation of earth's resources to the extent of taking us to the brink, with pollution etc. growing day by day.
In my opinion, economics with a large dose of spiritualism is the only solution. With 'spiritualism' I mean thinking beyond the just materialistic benefits.
Business people need to develop feelings of contentment, non-possessiveness and ethics.

Economics with Spiritualism
Anura Perera, Director, Sri Lanka, Member
This is a topic that I have been thinking of a lot, and it is close to my heart. I fully endorse this view.
We need a paradigm shift in our thinking and come up with a model in which not only the human beings, but the sustainability of all all living and mother nature is taken into consideration. We are the custodians of the mother earth and it should be shared equitably..

Economics with Spiritualism and Ethical Business are Needed
Olive C. Paraiso, Business School Marketer, Philippines, Member
Indeed none of these 4 politico-economic systems really responded to what the world needs in terms of wealth distribution and benefit rationalization.
It may not be too much to mention the circular continuum that even common characteristics are inherent, still one cannot accept the other.
The bottom line is in the leadership and how the leader does most of things for the good of everyone. Willpower you may think, but conscience is weightier, I believe.

Economic Method That Embraces the Spiritual Needs of People
Bob Simpson, Strategy Consultant, Australia, Member
Could we four people develop a framework that would facilitate deeper conversation about this issue? But can I suggest that the framework starts at a physical situation, working back towards the bigger questions?
E.g. there is a too high level of death through starvation in our country, which research proves diminishes the spiritual, emotional and physical wellbeing of our country!
What rules and regulations if implemented would actually reduce that level of death, i.e. eliminate the situation?
What generally accepted "national principles" would sustain these rules and regulations?
In economic and social terms, what deep "national convictions or psyche" give rise to these principles and would consolidate the rules and regulations?
If we four developed a framework, each of us could test it amongst colleagues in our own country. Then we pool our findings and broaden the conversation through the 12manage network.
Maybe the "situation" is in the mental health of young people in our countries, e.g. cannabis use.

Economics and Spirituality: Never Waste a Good Crisis...
Teun Wolters, Professor, Netherlands, Member
Economics as a science has already brought to light much of the causes of the ecological and economic crises we are in today. We can think of:
- The 'tragic of the commons'
- Externalities
- Lack of transparency
- Opportunism
- Asymmetric information
- Short-termism
- Myopia
- Organizational slack
- The prisoner's dilemma
- Disequilibria
- Power structures, etc.
Let economics be and remain the 'dismal science' showing the consequences of human shortsightedness. However, there is more than economics. The world needs political leadership which let people be at their best. Never waste a good crisis, it is said. A crisis can be the turning point for something better.

Unbridled 'Human Development' is a Cancer of Planet Earth
KRS Raman, Professor, India, Member
If one studies the biology of cancer, one will realize that the effects of uncontrolled human development on mother earth is just like the uncontrolled cancer growth on human body.
Unless humankind can adopt some effective controls to ensure sustainability, the civilization is doomed to self-destruct, like cancer self destructs by eliminating the person.

Human Development as a Cancer
Teun Wolters, Professor, Netherlands, Member
In principle, we can distinguish between development and growth. It must be possible to have human development without continuous material growth.
For a part, the present economic systems will signal the end of natural inputs (higher prices, difficult supplies, political conflict). New technologies are being developed and implemented.
The present search for a green economy internationally is encouraging.
However, what we need is a fundamental choice for sustainability (outside the usual left-right dimension in politics). 'Cancers' lead to crises.
But will they prevent 'a world without end'? Anxiety about this is justified. But let us do what we can in our own environment to make a change.

Economics with Spiritualism and Ethical Businesses are Needed
Wale Adeniranye, Business Consultant, Nigeria, Member
I agree with this viewpoint. This is against the background that spiritualism and ethics preach consideration for others. To a great extent, these two will have a moderating effect on the selfishness of individual that underlie the principles of economics (microeconomics).
However, the subjective nature of spiritualism and ethics open them to different interpretations. In my own part of the world, religion (which people confuse with spiritualism) is a very sensitive issue that often leads to worse deaths (given the sudden nature) than any economic deprivation.
A detailed research with strong analytical model may be useful in establishing the fact that economics with spiritualism and ethical businesses are needed.

Ethical Principles
Teun Wolters, Professor, Netherlands, Member
The discussion seems to stress the fact that reality is wider than a single discipline. Inclusive thinking is necessary to overcome a selfish and predatory way of life. The elements of these are present in many cultures, but fail to have enough impact. Why can't the holistic world visions in Asia prevent ecological degradation and blatant deprivation? Why can't religion stop corruption? Sustainable economic development cannot do without a foundation of fairness, compassion and the acceptance of diversity. This is not a theoretical issue in the first place.

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