|HINDUISM is a
modern word. Vedanta is the best among the numerous names given to the religious faith of
the Hindus. He who professes and practises Vedanta is a Vedantin. This name has not so far
been solely appropriated by any single Hindu denomination.
If regulated cooperative economy must replace individual competition, it calls
for some spiritual and cultural basis and the ethic and culture rooted in Vedanta can
undoubtedly fulfil this purpose. Every one now realizes that the scheme of life which held
the field till recently and which gave what was called prosperity in the nineteenth
century is now out of date.
The prosperity resulting from the economy of private
competition necessarily carried with it in equality of distribution. Indeed, the
prosperity was based on this very inequality. Some people either in the same country or
elsewhere had to live in varying degrees of squalor in order to build up and support that