In a recent book Value(s): Building Better World for All (William Collins, London 2021) Mark Carney has identified values needed for finance, business, government and public for creating a better world for all. He criticises market fundamentalism that has dominated the Anglo-American world for the last forty years since the Thatcher/Reagan revolution in the 1980s.
He talks of six values that can create a new world beyond market fundamentalism and will serve the world better: dynamism, resilience, sustainability, fairness, responsibility and solidarity.
Carney then talks of policies, procedures, conventions and practices in finance, business, the government and public that will instill these values in the system, He gives the example of G-20 initiative to set up a financial system which is simpler and fairer.
He believes that cooperation in the international financial system can succeed through: focus on values, willingness to work across boundaries, greater use of soft form of cooperation and mechanism to develop national approaches that are aligned to cross-border cooperation.
Carney hopes that these principles will be the muscles which will grow stronger by practice and would become ingrained in the system.
The author of this article argues that for Carney’s program to success, along with policy and procedural reforms, we need to mainstream spiritual values in our economic, political and social systems. This fusion has to be done on the basis of experience and science.
Here comes India’s tradition and experience. India’s tradition of Yoga can facilitate to promote these values. Once the inner connectivity is achieved through Yoga human values become natural part of the human mind. With inner connectivity, an individual learns how he is the part of the same being as his neighbours.
Universal use of Yoga from childhood is the way to instill these values.
The first step for India is to show that through the regular and universal practice of Yoga along with creative economic and political values, it can become a model country characterised by prosperity, strength, inclusiveness, cleanliness and sustainability, transparency and honesty – all these leading to happiness under the envelope of divinity.