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Reverse Consumerism is the panacea for worsening Global Economy

Communism failed. Socialism never took roots. Growth powered & unregulated Capitalism is collapsing. No amount of bail out appear to bring global economy on track. The main culprit is the greed of multinational corporations fueled by consumerism beyond one’s means by individuals and Nations. The developed World is paying for the excess syndrome, which is affecting developing countries as well. Now there is talk of austerity measures and observation of World thrift day. Any –ism devoid of divinity is doomed to fail in bringing justice in Society.


There is an urgent need for ‘Reverse Consumerism’ or going back to Nature. Yoga Way of Simple living (YOGism) and Self reliance will solve the problems of Global economy to a great extent avoiding exploitation of the weak which is responsible for the tensions between the rich and the poor affecting the World peace and security.


There is need for drastic change in the mind set from self centric to thinking of World as one family – Vasudevakutumbakamu, from the western democratic concept of “Dignity of Man” to Indian concept of “Divinity of Man” and from the concept of “Survival of the fittest” to the “Survival of the weakest”. The qualities of sacrificing and sharing should predominate the nature of man. Service driven activity becomes divine and useful to society while commerce driven activity becomes demonic and is harmful to society. There is need for spiritual ambience in the society. A spiritual person irrespective of any religion in the true sense of the word, should exhibit the qualities of compassion, contentment, charity, forgiveness, truthfulness, gentleness, simplicity, purity, sacrifice, sharing, service to community and love to God and His creation, the Nature. It is easier said than done. Desire and effort to attain Spiritual nature, must be cultivated. Yoga Way of Living or YOGism is an art of living in harmony with Nature and concern to the whole humanity. In brief live Simple, live Spiritual and live to Serve.  YOGism should be made a movement with its eternal values and universal characteristics. All activities should be treated as service to the people and charge for sustenance and not as business making enormous profit by exploiting the masses.


India is a fine example of unregulated and non monitored democracy resulting in wide gap between the rich and the poor. With divine culture and Ramarajya concept, India’s democracy should have been founded upon the recognition of Divinity of Man as a model for the democratic World. Non-corporate sector dominates Indian economy with large population providing 93% of employment in the country. Share of non-corporate sector in domestic savings is 24%, while corporate sector’s contribution is 8% (P.Kanaga Sabhapathi, Yuva Bharati, Aug 2011). It was not given the importance it deserves. Instead the “Unholy Trinity” of the World Bank, the IMF and the WTO and the financial institutions under their control have taken the advantages of weaknesses of developing countries, imposed on them the so called package of economic reforms of liberalization, privatization and globalization otherwise known as structural adjustment programme i.e. fiscal discipline, strict money policies, deregulation, dismantling public projects and programmes, reduced role of state, low tariffs and removal of barriers to private investment, all aimed at making them a part of the free market world economy (PR Dubhashi, Bhavan’s Journal, April 2009). “Occupy Wall Street” (OWS) protests are spreading World wide. The people are putting up a united fight against the economic model called neoliberalism, run for the benefit of 1% based on “free-market” economic model.   


India, home of World’s largest number of poor people with almost 33% of the population living with an average daily income of less than Rs.100 per day while the rich parade luxury cars costing crores of rupees and flock to Lady gaga concert, buying a ticket for Rs.40000/-. A shameful amount of Rs.32 / day has been decided as cut off for poverty line by planning commission, an insult to the citizen of India. Indians are poor but India is not a poor country says one of the Swiss Bank’s directors. Lacks of crores of black money are slashed away by Indians in foreign banks, making the common Indian poor and starving. According to a study by Wealth X, a global wealth intelligence and prospecting company, India has 8200 UHNW (ultra high net worth) individuals with combined wealth amounting to whopping US$945 billion while India’s foreign exchange reserves are around $300 billion. 


Super rich who constitute less than 5% of the population, is living princely life enjoying imported entertainment options as ‘Formula 1’ car racing, Lady Gaga Raga, maddening Metallica, sexy cheer girls, are not only mocking at but insulting Indian poor indebted farmers committing suicide. 5 star culture should be taxed heavily in developing countries along with better vigilance and strong punishment to the corrupt if democracy has to deliver social justice.


December 2, 2011                                                                        Prof. B.C. Harinath