Hindu Economics – Is There Any Better Economic Theory Than This?
Rohan Stanley’s ancestors were South Indians who settled in UK long ago. He is doing honors in fine arts.
I said I am a finance journalist and working for a US-based newswire. Our talk touched economics when he said: “India has never focused on economics from the time immemorial…Hence it remains as poor, underdeveloped and intolerant country…Even great economic theories like communism and socialism failed in India.”
“I know my country has lot of shortcomings. I also don’t see any great progress in the next couple of decades. But don’t say India never knew anything about economy…As a matter of fact, the only humane and sustainable economic theory – the best ever in the world – was developed and practiced by our ancestors.”
“Mr. Uday, over-patriotism is a sickness! What economic theory India has apart from some non-practical spiritual idiotism? Your theories never address poor working class and downtrodden. Your ancestors were big zero in finance. They didn’t even have a currency or coin. Even dessert dwelling Middle East Arabs had Dinar as currency…”
“You are wrong here. Early punched coins were minted and used for many centuries in India. These coins were made of gold, silver, or copper. 12 Dhanakas = 1 Suvarna, 3 Suvarnas=1 Dinara. An equivalent of Indian Dinara was Greek coin denarius. So even the word dinar comes from India. Modem currency codes Dinar, Rupee, Rupiah, Taka etc. all have equivalent terms in Sanskrit (Dinara, Rupyaka, Tankaka etc). Incidentally, the ‘Dinar’ was introduced in Kuwait in 1960 as a replacement for the Rupee!” I told him: “Our ancestors had an economic theory that was the best in the word… And India was never a spiritual country – it’s a misconception.”Please continue reading at https://www.amazon.com/dp/B01N9PAGLT
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