Saturday, December 20, 2014

Possession-Less Monk Says Money Is Not the Problem

The common feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency towards a continuous improvement in the average standard of living, a progressing enrichment of the many. 
-Ludwig von Mises, The Anti-Capitalist Mentality

Could a monk, who has given up his worldly possessions, possibly understand that it is capitalism and free exchange that has resulted in millions being lifted from poverty?  Perhaps so.

Atrhur C. Brooks writes at NYT:
On a recent trip to India....I sought guidance from a penniless Hindu swami named Gnanmunidas at the Swaminarayan Akshardham Hindu temple in New Delhi. We had never met before, but he came highly recommended by friends. If Yelp reviewed monks, he would have had five stars.
To my astonishment, Gnanmunidas greeted me with an avuncular, “How ya doin’?” He referred to me as “dude.” And what was that accent — Texas? Sure enough, he had grown up in Houston, the son of Indian petroleum engineers, and had graduated from the University of Texas. Later, he got an M.B.A., and quickly made a lot of money.
But then Gnanmunidas had his awakening. At 26, he asked himself, “Is this all there is?” His grappling with that question led him to India, where he renounced everything and entered a Hindu seminary. Six years later, he emerged a monk. From that moment on, the sum total of his worldly possessions has been two robes, prayer beads and a wooden bowl. He is prohibited from even touching money — a discipline that would obviously be impossible for those of us enmeshed in ordinary economic life.
As an economist, I was more than a little afraid to hear what this capitalist-turned-renunciant had to teach me. But I posed a query nonetheless: “Swami, is economic prosperity a good or bad thing?” I held my breath and waited for his answer.
“It’s good,” he replied. “It has saved millions of people in my country from starvation.”
This was not what I expected. “But you own almost nothing,” I pressed. “I was sure you’d say that money is corrupting.” He laughed at my naïveté. “There is nothing wrong with money, dude. The problem in life is attachment to money.” The formula for a good life, he explained, is simple: abundance without attachment.

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