Economics has an unknown enemy in the Second Law of Thermodynamics, which says that entropy (disorder) cannot decrease in a physical process. If the net disorder is increasing, then how can there be net growth in wealth? Net growth in wealth is possible only with a net increase in order. Conversely, if net order in …
In classical economic theories, the “market” is an abstract entity, used by everyone, but owned by no one. It could be regulated by a government by enacting the rules and regulations of market transactions, but even the government did not own the market (unless it was the sole producer and consumer). In fact, nobody could …
Many people realize at present that there are problems with capitalism, but opinion is divided on what should be done about it. This post explores the alternatives to capitalism and their problems. The reality is that there are no provably stable economic models today. Centuries of economic studies have failed to provide a theory or …
There is a popular narrative in India at present that Islamic Invaders and British Colonialists destroyed India’s traditional culture and civilization. That is not entirely false. But any serious student of history is led to ask: Why did these invaders succeed in conquering India when numerous such invasions were repelled previously? The Mauryan Empire in …
Profits require that the whole must be greater than the sum of the parts. For example, half a chair is not half price of the full chair; most times you cannot sell two halves of a chair separately, or price them separately, even when you assemble the chair yourself from packaged parts. Similarly, the price …
Free market economics is about competition between businesses, and it operates under the assumptions of a closed system in which wealth can be redistributed, but the total wealth must remain constant. Capitalism is the contrary idea that the economy is an open system in which wealth can be infused, in order to create a net …
Vedic philosophy describes the body as a universe and the universe as a body. Since the world is intended for living beings, there is no fundamental divide between “physical sciences”, “life sciences”, and “social sciences”. Thus, the cosmic structure, the social structure, the biological structure, and the psychological structure are parts of a single continuum. …
We generally think of religion as something that pertains to transcendence beyond the current material existence. The reality, however, is that the day-to-day practice of religion involves societies whose cultural norms must be compatible with the tenets of the religion. If there is a misfit between culture and religion, then most likely the religion would …
Even a casual look at Sāńkhya reveals an apparent asymmetry in its ontology, namely that there are five sense-objects called Earth, Water, Fire, Air, and Ether, corresponding to the five senses of knowledge Nose, Tongue, Eyes, Skin, and Ears respectively, but there aren’t corresponding sense-objects for the five senses of action, namely, Hands, Legs, Anus, …
