If a business is built with the help of loans from any source, then that enterprise is termed kátiká in Sanskrit. Suppose someone has no capital but wants to start a business by taking a loan, then that business is called kátiká vyávasá. You might have noticed that there are many countries which suffer from financial stringency, so they take loans from other countries. These loans are then used for ventures like constructing large dams on their rivers.
The science of economics teaches that the rolling of money should never be blocked by any sort of non-productive investment. Sometimes people misuse loans to construct an unnecessary building or a new showroom for their business, and thus prevent the possibility of reinvesting the capital and increasing their wealth. Economics teaches that loans taken for business investment should always be utilized for productive purposes, and should never be utilized in any unproductive venture.
Foreign loans, for example, should never be invested in constructing large railway stations instead of railway lines. [23 March 1986, Calcutta, ”Shabda Cayaniká” Part 4]
The value of money increases with its mobility. That is, the more that money changes hands, the greater its economic value. On the other hand, the more that money is kept immobile in a safe, the more it loses its utility, and thus its economic value decreases. This is the most fundamental principle of economics.
The banking system is indispensable for promoting both collective welfare and the all-round economic advancement of people. The maxim, "Keep money rolling," is as true as the proverb, "Keep the wagons moving."
The banking system must be vigilant about two important points. First, the intrinsic demonic greed of the banks must not be allowed to jeopardize the life of the common people. In the past in most countries of the world the banks threatened the life of the common people. This more or less still occurs today not only in undeveloped countries, but also in developing and developed countries. Secondly, the banks must not allow unwise administrators or governments to print monetary notes indiscriminately without reserving the proportionate amount of bullion in their treasuries.
The first defect not only ruins low and middle income groups, but also impoverishes wealthy people. The second defect destroys the very life of society. It leads to widespread inflation, which in turn jeopardizes internal trade and commerce as well as foreign trade and barter. Even if there is abundant production in a country, the common people do not benefit.
The rich become richer and get more scope to continue their merciless exploitation. In state capitalism, the exploitative rulers tighten their grip over society even more. State capitalism may call itself capitalism, socialism or communism, but ultimately it stands before the masses as more dangerous and bloodthirsty than bloodsucking ghouls and demons.
The banking system must continue, otherwise the mobility of money will be hindered. If people oppose the banking system because they are guided by selfish whims or any other sentiment, then their economy will stay in the dark ages. They are bound to lose equipoise and equilibrium in the physical sphere, remain lopsided in the psychic and spiritual spheres, and reduce themselves to objects of ridicule. It is very
sad to imagine such a state.
So you see, the fundamental aim of the banking system is, "Keep money rolling."
Let governments be active. Let people purchase as much rice, pulses, vegetables, oil, salt, sugar, etc., as they can with money.
Let money go to the grocers, the sugar cane vendors, the confectioners, the factory workers, the labourers and the weavers. And let the colourful saris of the weavers be purchased and worn by the newly married brides, adding to the beauty and prosperity of society. [21 December 1986, Calcutta ”Shabda Cayaniká” - Part 10]
Posted by proutist-universal on March 25, 2006 12:04 AM | TrackBack
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"In economic life there is extreme inequality and exploitation. Although colonialism no longer exists openly in the political and economic sphere, still it persists indirectly, and this should not be tolerated... In this respect you should remember that in economic life, we will have to guarantee the minimum requirements of life to one and all... There cannot be any sort of adjustment as far as this point is concerned. The minimum purchasing requirement must be guaranteed to all. Today these fundamental essentialities are not being guaranteed. Rather, people are being guided by deceptive economic ideas like outdated Marxism, which has proven ineffective in practical life and has not been successfully implemented in any corner of the world. Why do people still believe in such a theory, which has never been proved successful? The time has come for people to make a proper assessment of whether they are being misguided or not." |
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"Human beings have still not been able to form a human society, and have still not learned to move with the spirit of a pilgrim. Although many small groups, motivated by self-interest, work together in particular situations, not even a small fraction of their work is done with a broader social motive. By strict definition, shall we have to declare that each small family unit is a society in itself? If going ahead in mutual adjustment only out of narrow self-interest or momentary self-seeking is called society, then in such a society, no provision can be made for the disabled, the diseased or the helpless, because in most cases nobody can benefit from them in any way... in that case there always remains the possibility of some people getting isolated from the collective. All human beings must attach themselves to others by the common bond of love and march forward hand in hand; then only will I proclaim it a society." |