The root cause of credit crisis is greed

Governments are trying to bail out failed big businesses with the taxpayers’ money in what is being referred to as capitalist socialism. Will the damage-control exercise work? Why are those in governance reluctant to acknowledge that at the root of the crisis is greed that is throwing all caution to the winds?

Talk of correction in markets is always in monetary terms; there is no mention of the need for spiritual solutions. Are moneycentric bailouts a stable solution to problems born of greed? It might be interesting and instructive here to recollect the story of Shumbha’s battle with Durga in the Markandeya Purana.

In the Vedantic context , the term ‘Idam’ refers to ‘This’ and ‘Tat’ to ‘That’ . The physical world is This. What lies beyond the This is That. The This owes its existence to That. The essence of spiritual corruption is when This seeks to exclude That and Dharma begins to decline and conditions ripen for the That to incarnate Itself to reset the cosmic balance. This in a nutshell is the course of cosmic evolution. The Shumbha-Durga battle is one among countless instances of the fall and rise of the spiritual quotient.

Shumbha and his brother Nishumbha were mighty rulers who had conquered all, including the gods. Having acquired so much power, they assumed that their success was due to their physical prowess; no thought was given to the need for Divine Grace. The dispossessed gods invoked Devi, the power of That, to overcome the brothers intoxicated with power to restore cosmic equilibrium.

Devi assumed the form of a bewitching beauty and seated herself atop a hill. She was seen by the servants of Shumbha who duly reported her presence to him. Shumbha sent a messenger to Devi, inviting her to become his queen because he was, he claimed, lord of everything excellent in creation. Devi replied that it was not so easy to attain her; she would have to be won in battle.

Shumbha, infatuated by bounteous This, felt it was kid’s play for him to win her. He sent out Dhumralochana to fetch her by diplomacy or force. But the warrior was easily slain by Devi. Herein was signal enough for Shumbha to mend himself. But he disregarded That and trusted the strength of his physical resources. He sent two generals, Chanda and Munda, with a large army. They were soon routed. Rather than respecting That, more of This was mobilised by Shumbha. A larger army with the selfproliferating Raktabija was sent. Even he was annihilated. Nishumbha was then deployed. He too fell.

Shumbha finally arrived and threw all his remaining resources into the battle, only to lose his life and all. Why? Because he over-trusted This. He totally disregarded That. When Devi had effortlessly vanquished his generals and army, Shumbha still failed to appreciate that herein was a hopeless contest between the That and the This. He persisted with reinforcing his army, rather like adding numerous zeroes to a zero.

In the imagery used in the poem, this was like throwing hay into the fire to douse it! When the hay got consumed at once, more hay was thrown in. Why did Shumbha not recognise the absurdity of the exertion? Why did he not recognise the need for spiritual insight? The Purana says that it was so because he was overwhelmed by Mahamaya , the Great Illusion. Is that perhaps what ails global business today?

Source: EconomicTimes