SPIRITUALITY IN ECONOMICS FOR COPING CISIS IN GLOBAL KNOWLEDGE ECONOMY
KEYWORDS
Spiritual Economics, SGM (Spiritually guides materialism) strategy, FEAR (false evidence appearing real)
To diagnose and find long term preventive & curative remedies for coping the crisis in global knowledge economy of today through spiritual economic falls in the domain of the present paper. We firmly believe that the rate of progress in spiritualism for peace and prosperity is faster than the rate of progress in materialism for peace and prosperity; therefore, there is need for accepting spiritually guided materialism (SGM) as a solution of various problems which can reestablish economics as a queen of social sciences as conceptualized by Nobel Laureate Paul Samuelson. Business and economics without ethics are like eyes without sight. To do business with morality and honesty of purpose is the need of the day. This is necessary to cope up the threats of panic and fear (false evidence appearing real) of the crisis by all the stakeholders in any knowledge economy of today. To survive and exist in the present world of competition which is both healthy and unhealthy, we need to do everything in the best, efficient and effective way without ignoring the ethics with spiritual input. We need to objective, dependable to know our epics like Quran, Bible, Guru Granth Sahib Ji, Ramayana, and Bhagwad Gita is believed as ism neutral and religion free treatise on welfare economics and management with lessons for every one of us for facing the crisis of any kind.
Professor (Dr.) M.M. Goel & Mayank Goel
The first author is Professor of Economics & Dean, Faculty of Social Sciences, Kurukshetra University, Kurukshetra (India). Ambassador for peace recognition by Universal PeaceFederation at Seoul (South Korea). He may be reached at mmgoel2001@yahoo.co.in
The second author is Assistant Manager, IDBI Bank Ltd., New Delhi. He may be reached at mayank_15@hotmail.com