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    • How Did We Get Into This Economic Mess? By Banking on Gandhi’s Seven Sins

    Posted on | April 17, 2009 | 4 Comments

    THE SEVEN SINS IN OUR WORLD  (Mahatma Gandhi)

    1. WEALTH WITHOUT WORK.
    2. PLEASURE WITHOUT CONSCIENCE.
    3. KNOWLEDGE WITHOUT CHARACTER.
    4. COMMERCE WITHOUT MORALITY.
    5. SCIENCE WITHOUT HUMANITY.
    6. WORSHIP WITHOUT SACRIFICE.
    7. POLITICS WITHOUT PRINCIPLES.

    The collapse of American banks and corrupt corporations like Enron seems to be rooted in several of Gandhi’s Seven Sins. In the desire to generate wealth without work – that is, trying to boost profits without creating real value in exchange for it – corporate and investment stakeholders manipulated the system without conscience or due diligence. They set business and personal integrity aside, ignored sound principles and practices, and used fuzzy math (a la the Gaussian copula function) to toss risk around like a hot potato, without recognizing that someone always gets stuck with it at some point, and everyone eventually gets knocked out…or the game ends altogether.

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    Comments

    4 Responses to “How Did We Get Into This Economic Mess? By Banking on Gandhi’s Seven Sins”

    1. katsola
      April 17th, 2009 @ 10:42 am

      Amazing how accurate those words from Ghandi are. I think that sums it up pretty perfectly.

    2. Christina
      April 17th, 2009 @ 4:21 pm

      We have his seven sins posted up in our study as a reminder to strive for good. Thanks for posting this and relating the economic crisis to work and morality. It’s easier for us as a nation to merely look at fixing the economy while forgoing harder changes to improve our nation’s (and our citizens’) character. Not seeing the forest for the trees, et. al.

    3. Josh
      April 20th, 2009 @ 2:05 pm

      that’s spelled Gandhi

    4. grace
      April 20th, 2009 @ 2:16 pm

      Thanks Josh – I suck. *lashing self now*

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