Vol 8-No. 5



Greed to blame for Current Global Financial Crisis
Adopt "spiritual economics": Rajan Zed


Global financial crisis was the result of excessive human greed, which was a transgression of spiritual and moral law, acclaimed Hindu statesman Rajan Zed. 


In a statement in Nevada (USA), Zed, who is the president of Universal Society of Hinduism, said that all the religions condemned greed. The economics of matter had brought us to this juncture, so let us adopt "spiritual economics" as the solution.


Zed lauded His Holiness Pope Benedictus XVI Joseph A. Ratzinger's remarks while opening Synod of Bishops at Vatican that financial systems were "built on sand", only the works of God had "solid reality", and "all these things that appear to be real were in fact secondary".


Rajan Zed further said that illusion of money veiled our minds, resulting in unprecedented turmoil in the financial markets, bank failures, plunging of world stocks, etc. Saint Augustine (Letter 211) said, "It is better to need less than to have more."


Zed stated that opening theme of pre-BCE Hindu scripture Isha Upanishad was clutching to the Real and declining everything else—everything less real. 


Zed stressed the need to build a new world free from greed. "Greed is a form of pollution. Disappointment is certain if some act is done merely out of greed. Excessive greed blinds the mind. Do not be disillusioned by wants," he added.


Zed quoted ancient Hindu scripture, Bhagavad-Gita, which says: there are three gates to self-destructive hell—greed, anger, and desire. Abandon these three. A person freed from these three gates of darkness, seeks what is best and attains life's highest goal.


Paramahamsa Upanishad described the illumined person as the one who had no selfish attachments, had only minimum possessions, lived his/her life for the welfare of all, and lived united with the Lord, the source of all joy and wisdom. The seeker must free himself/herself from selfish attachments to people, money, and possessions, Rajan Zed argued quoting scriptures.


Pope Ratzinger heads the Roman Catholic Church, which is the largest of the Christian denominations. Hinduism, oldest and third largest religion of the world, has about one billion followers. Moksha is the ultimate goal of Hinduism.


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