GITANOMICS

Bhagavad Gita_Chapter 7_Economics of Permanent Income: A Spiritual Lens on Prosperity In Chapter 7 of the Bhagavad Gita, Krishna reveals a profound truth: He is the ultimate source of all existence , the sustaining force behind the universe, and the only permanent reality. Everything else — wealth, material comfort, even the body — is temporary and shaped by Maya , the illusion that makes the impermanent seem permanent. If we shift this spiritual insight into an economic lens, a surprisingly modern and powerful economic philosophy emerges — one that aligns closely with Milton Friedman’s Permanent Income Hypothesis (PIH) and the idea that lasting prosperity comes from stable, sustainable income rather than short-term gains. This blog explores how ancient wisdom and modern economics intersect in meaningful ways.   The Source of All Existence and the Source of All Economic Activity Krishna’s declaration that “I am the origin of all; everything emanates from Me” ; represents the idea o...

The  Bhagavad Gita  provides timeless wisdom, not just in spirituality but also in practical life, including E conomics . The point in seeking guidance in times of doubt is absolutly profound. Often, in economic decision-making—whether personal finance, business, or policy-making—leaders and individuals face dilemmas. Consulting a trusted mentor, advisor, or even one’s own higher consciousness through reflection can lead to better choices. Individuals aim to  maximize utility  (satisfaction) or profit. They have  perfect information  and process it logically. They weigh costs and benefits before making decisions. While Adam Smith is often associated with  self-interest  driving economic prosperity ("invisible hand"), his earlier work,  The Theory of Moral Sentiments , emphasizes  ethical responsibility  and the moral duties individuals owe to society. He acknowledged that markets func...