Economic ideologies governing present policies have proved to be unworkable, not merely because of implementational aberrations as frequently argued, but because of basic flaws and wrong assumptions. For instance - supply, demand, and market mechanisms have been regarded as the basic parameters of economics. Adherence to this mindset has resulted in fast depletion of natural resources on the one hand, and, on the other, a physically elusive and morally indefensible life-style. In contrast, the Hindu view of life has always advocated living in harmony with nature; such harmony desiderates voluntary restraint on consumption. A corollary of this basic premise is that self-restraint is not only inevitable for practical reasons, but also a source of universal joy and a stepping-stone for spiritual evolution.

The relevance of this conservationist approach is now being increasingly recognised by progressive economists in many parts of the world.

It is the neglect of these basics which has driven countries like Bharat to the brink of bankruptcy and the West to regressive colonialist strategies.

That the rubric of Dharma should be reflected in all facets of life is a founding principle of Sangh. A constant endeavour of Sangh and all its offshoots has been the propagation of Hindu values as the guiding principles in all sectors ranging from education to labour, sociology to economics.

Obsession with West-originated theories has resulted in blinkered vision in major knowledge-areas like history, science, technology, economies, administration, etc. Thus, mainstream economics as taught and practiced today is blissfully unaware of the fact that such nuances as real commodity prices were comprehensively dealt with by Shukracharya, Kautilya and other sages.

The materialist approach, blindly copied from the West, has led the country downhill. While Independent Bharat started with a balance of Rs. 18,000 crores, the Bharat of 1992 is in debt to the tune of Rs. 4,00,000 crores. The so-called 'industrial Revolution', supposed to have led to the prosperity of the West, was made possible from the post-Plassey loot from Bharat. With no such plundered capital, Bharat obviously could not reach the heights of material progress scaled in the West. This externally induced impoverishment has been used by the West to make Bharat a debtor country.

However, what should cause greater concern is the culturally induced poverty in the psyche of the people through endlessly repeating 'you are poor', 'you are backward', 'you are primitive'.

The need is to recreate the self-confidence of the people of Bharat. Not so long ago, Bharat produced such superior yarn that Britain had to ban the sale of textiles from Bharat. Likewise, Bharat produced the best steel in the world costing as little as Rs. 50 per tonne, while the 'advanced' West produced inferior steel at Rs. 250 per tonne.

That the indigenous science and technology of Bharat were deliberately crushed by the West is undisputed. Curiously, the same colonialist intervention from the West continues even on the eve of the twenty first century, now in thc form of GATT, World Bank and IMF conditionalities, 'Structural Adjustment', 'Nuclear Non-proliferation Treaty', etc.

While political independence was attained in 1947, a major and sustained struggle for economic independence appears warranted as we approach thc Golden Jubilee Year of political emancipation of Bharat.

A lasting solution to the economic crisis can come only from cultural rejuvenation and re-assertion of Hindu values such as reverence for man and nature, a non-acquisitive and non-exploitative life-pattern, recognising mutuality rather than individual right as the basis of economy, voluntary austerity in consumption, and a premium on self-reliance. Sangh has been propagating this value-system based on self-knowledge and self-control, not merely because it is necessitated by the present state of the world, but even more basically because it is a source of individual joy, social harmony, cultural richness, spiritual advancement and universal peace.