Economic story is hurting us and the planet

Article number 39

Human beings are obsessed being at the center of the universe . When Galileo contradicted the teachings of the roman catholic church by claiming that the sun and not the earth was the center of the solar system, he was sentenced to house arrest for rest of his life. This event was one of the single most event which shook mankind as we were dethroned from being center of the universe.

The current crises has again raised some basic questions with regards to compassion and empathy toward the planet. We as humans need to be mindful, as we exist on this earth to coexist with others. Its in our interest that we do not see ourselves as the center of this planet. It is an illusion we are living in.

If you are truly treating the earth with reverence would you allow the level of pollution and contaminants that we allow? If you are really thinking about our children with reverence, and holding responsibility to a  future generation, would you allow some of the things that we allow? So, if the entire society, is allowing economic forces to prevail, rather than the real humanitarian principles and love of the earth, love of each other, and love of our children, then we get what we are getting.

We accept the reality of the world with which we are presented. We have accepted reality as its presented to us, it doesn’t even strike us that things could have been different.

In this current era, the master story is economics. Economics is driving everything. Economic belief is shaping how we think feel and act. We are governed by the markets which lacks moral limits. Economics lacks moral virtue, that is the reason the story that we are living has turned out to be so full of greed and selfishness. The story which we are living lacks a moral compass, but the irony is that we don’t feel it lacks one. We are living and writing new chapter based on what we have read and seen.

The belief, values and assumption that make the economic story aren’t inherently right or wrong, they are just a single perspective, may be a version of created reality and necessity which may or may not be manifested due to greed. This single perspective became so ingrained as the only reasonable reality, that we forget there are other stories and fail to see a larger picture in totality. The story what we are living perhaps was apt during that time period, but inheriting it without changing rather improving it, is i feel a problem.

There is a reason why we should be concerned because we are driven by economics and problem with economics is that there are no boundaries which protects the transaction. Economics doesn’t ask questions, for example,  if some one is willing to pay for sex or kidney. If consenting adult is willing to sell the only question the economist asks is “how much”. We are moving or moved towards a society in which everything is up for sale.

Consider inequality. In a society where everything is for sale, life is harder for those with modest means. More money can buy the more affluence or lack of it matters.

If the only advantage of affluence was the ability to buy yachts, sports car, and fancy vacations, inequalities of income and wealth would not matter very much. But as money commands its influence on basic necessities of life like good health care, safe home, good education, not having money impacts you and thus having money makes a difference.

Commodification of everything sharpens the sting of inequality by making money matter more.  

Over the years we have inherited and accepted these stories and lived it on day to day basis and it has unconsciously shaped our lives. The time has come to be more sensitive and ask questions on the very reason of our existence.

This bring me to the glorification of the phrase “GREED IS GOOD”. My question, is greed really good? I have my answer, you seek yours.

Businesses cannot run only with the motive of making profit or just meeting our needs alone, it needs to be more inclusive and reflect empathy towards nature. We have the power to make the change but so far, we have not been responsible enough. It reminds me of the movie “Bruce Almighty” where the protagonist is given the power to run the world by GOD, but all he does is take care of his own needs. 

The current Corona crises has shown  how nature can make us feel helpless. It is our Karma.

Reference

What Money Can’t Buy: The Moral Limits of Markets Book by Michael Sandel

Monoculture How one story is changing everything F.S. Micheal

Disclaimer: Ideas, views and opinions expressed in the
article represent my own views in my private capacity and not those of any of
my current or previous employer, any institutions. The article is a
research work based only the limited, dated and open source information.
For the sources the statements have been quoted with the authors
name. This article is only for the reading pleasure and while I invite the
feedback and comments on the article, I will not be responsible or liable to
any such comments as the same belong to the responder.

 


One Comments

  • Angshuman

    August 4, 2020

    Economic story = to make money you need to have money = Rich becomes richer (already has the money) + Poor becomes poorer (do not have money) = Economic stimulus from govt for poor = Middle man eats = Rich becomes richer+ Poor becomes poorer = Rich employs poor to exploit natural resources = Poor left with nothing but broken biscuits and rotten food grains = Economic bullshit!!

    Reply

Leave a Reply