Markets, Morals and Motives: Economics and the Guru Granth Sahib – Nirvikar Singh
Abstract
A narrow view of economic thinking focuses only on the role of markets, with some role for government in instances of “market failure.” However, economics has its roots in the broader field of moral philosophy, which continues to influence many modern economic thinkers. This paper first provides an overview of this thinking, on the relationship between economics, collective moral codes, and individual motivation. This framework is then used to discuss the relevance and implications of the message of the Guru Granth Sahib in the economic and social spheres of human action. It also offers some observations on the Sikh way of life as reflected in the actions of the Sikh Gurus and their disciples. Two specific areas where the paper draws some lessons are the process of formation of preferences and attitudes toward economic inequality.
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Author Bio
NIRVIKAR SINGH is Professor of Economics and Sarbjit Singh Aurora Chair of Sikh and Punjabi Studies at the University of California, Santa Cruz. Professor Singh’s work on Punjab and the Sikhs includes research on the Punjab economy (health care, information technology, agriculture, water issues and political economy), the origins of Sikhism, martyrdom in the Sikh tradition, and early-20th century social reform in Sikhism. Professor Singh received his PhD from the University of California, Berkeley, and his BSc and MSc from the London School of Economics, where he was awarded the Allyn Young Prize, Gonner Prize and Ely Devons Prize. He has a long-standing research program on the Indian economy, including the economy of Punjab. He organized one of the first major US conferences on Indian economic reform. In addition to various aspects of the Punjab economy and the Sikh community, Professor Singh’s current research topics include information technology and development, entrepreneurship, electronic commerce, business strategy, political economy, federalism, and economic growth. He has served as Co-Director of the Sury Initiative on Global Finance and International Risk Management, Director of the Santa Cruz Institute for International Economics, Co-Director of the Center for Global, International and Regional Studies, Director of the South Asian Studies Initiative, and Special Advisor to the Chancellor, all at UCSC.