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June:
Dharma and
Economics & Management
Current business and management practices. Also, topics related to personal
finance
Summary
Many people say that money is the root of evil, others
say that money is what makes the world go round. These two extremes emphasize
the challenge that businessmen, as well as individuals, face in attempting to
run a successful business and manage money, while avoiding the pitfalls that
come with adharmic principles such as attachment (moha), egoism (ahankara),
and greed (lobha). How can businessmen and individuals avoid an excess of
this adharma after tasting the rewards of success, fame, and money?
In terms of economics, how should society be structured?
Is there an obligation to the poor of the world? Along that line, in many
parts of the world there is a huge separation between the rich and poor. Does
the successful businessmen have an obligation to use their money and
influence to help those in need? If they dont, are they acting in an adharmic way?
In terms of management, some of the topics that should
be explored include the duty of a manager to his employees, his partners, and
competing businesses. Also, there is a huge conflict that must be dealt with.
This conflict involves profit motives vs. dharma obligations. In Business
101, all students are taught that the manager’s primary duty is to his
shareholders. Furthermore, this duty can be accomplished through the simple,
yet hard to achieve task of creating profit. In many instances, nothing else
should be taken into consideration. Ultimately, the success of a business
comes from the profit that it achieves. However, how far must a manager go to
realize these goals? Some business cases that demonstrate the paradox of this
question are the cases of Tylenol and cyanide (all Tylenol bottles were
recalled when the company was informed) vs. Ford and Pinto (Ford chose not to
recall even when they knew the Pinto was causing people to die).
Another focus for this topic should be that of personal
finance. The individual faces the same issues that a businessman would. The
goal of life should not be solely based on the pursuit of money, especially
at the expense of other duties (i.e. to family, self-health, and other topics
throughout the course of this year). A person’s dharma should include proper
management of his/her personal finances so that the evils associated with the
pursuit of money and the worries revolving around financial issues are
alleviated. Also, as much of Hinduism states, one should live a life of
moderation. In relation to personal finance, is there a need to spend
lavishly on material items such as houses, cars, clothing, jewelry, etc.?
Does not this excessive spending lead to further attachment (moha) and greed
(lobha)?
Background Articles
Possible Activities and Discussion
Topics
Relevant Organizational Contacts
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Quotable Quotes
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