Economic law

Expressions researched:
"economic law" |"in economics there is some law"

Srimad-Bhagavatam Lectures

In economics there is some law. So why the world becomes overburdened?

Lecture on SB 1.8.34 -- Los Angeles, April 26, 1973:

So there is bhūri-bhara, bhūri-bhara. It is said: bhārāvatāraṇāyānye bhuvo nāva ivodadhau. Bhuva, this world becomes overburdened. Overburdened. As soon it becomes overburdened, there must be a war, pestilence, famine, epidemic and finish. This is natural. Overburdened. Nature's law. This is called... In economics there is some law. So why the world becomes overburdened? The earth planet... Not only earth planet. There are many millions of other planets also. They are bearing big, big mountains, big, big oceans. Why it becomes overburdened?

Sri Brahma-samhita Lectures

Actually there is no scarcity, but it is the so-called economic law, man-made law, that creates scarcity. From God's side, there is no scarcity. Sufficient supply—more than what you need.

Lecture on Brahma-samhita, Lecture -- New York, July 28, 1971:

There is grain. By God's arrangement, sufficient grain. But I am a man. I have got some influence. I have got some money, and I go to the bank: "Sir, I want to purchase one hundred thousand, millions of dollars' worth of wheat. So I have got ten thousand dollars. Please give me loan." Bank gives him loan. He purchases. He stocks it somewhere. Nobody knows. The price is increased. There is scarcity. Actually there is no scarcity, but it is the so-called economic law, man-made law, that creates scarcity. From God's side, there is no scarcity. Sufficient supply—more than what you need. But how this man can be checked from this evil propensity, to gather money and stock unnecessarily? In India, in 1942, they created artificial famine by this process. Big men, they collected rice. The rice was selling at six rupees per mound. All of a sudden, within a week, it came to fifty rupees per mound. I have seen it. No rice was available in the market. People were hungry. They were purchasing. But the beauty is one American gentleman was present at that time. He remarked that "People are starving in this way. In our country, there would have been revolution." Yes. But the people of India are so trained that in spite of creating this artificial famine, they did not commit any theft, stealing others' property. They died peacefully. Of course, this is a single instance. But the thing is that problems are not created by God. They are created by us.

Arrival Addresses and Talks

That's economic law. As soon as you put bad money, the good money will vanish.

Arrival Lecture -- Gainesville, July 29, 1971:

If you put something for sale in the market which is very pure, automatically you'll get many customers. Automatic. Because the thing is pure. If you sell pure milk, just from the farm, there will be many hundreds of customers immediately, and if you sell adulterated, homogenized water mixed milk, the milk will be sold, but not very many customers ordinarily. So anything pure will attract. That is natural. Pure love, pure foodstuff, anything pure. Pure gold. In economics also. It is said, "Bad money drives away good money." If you put bad money, just like nowadays the currency is some paper, paper currency, so drives away good money. Good money means gold coins. They are not to be seen. That's economic law. As soon as you put bad money, the good money will vanish.

Philosophy Discussions

Just like the economic law says that you cannot create anything. You simply transform.

Philosophy Discussion on The Evolutionists Thomas Huxley, Henri Bergson, and Samuel Alexander:

Śyāmasundara: He says that the mind never creates anything new. It simply rearranges things. Everything already exists...

Prabhupāda: Yes.

Śyāmasundara: ...but the mind, and the mind merely arranges it. It doesn't create anything new.

Prabhupāda: Yes. Just like the economic law says that you cannot create anything. You simply transform. Just like this table is nothing but wood. So wood is not my creation. Wood is there, but I have transformed the wood into a state which is called a table.

Śyāmasundara: So that newness or novelty is merely rearranging. Something new, they say, "Oh, he has created something new." But it is merely a rearrangement of previously existing things.

Prabhupāda: That is that English proverb, "Necessity is the cause of invention." I require something to sit down, leaning back side, so I create a chair which is called armchair. So I sense first of all a necessity that "I must sit down very comfortably leaning towards the back." So under such spirit I make this chair, and this is called armchair. So necessity is the mother of invention.

1974 Conversations and Morning Walks

The economic law says that man cannot create anything. He can simply transform. These trees, has man created these trees? Why do they claim man has created everything?

Morning Walk -- June 12, 1974, Paris:

Prabhupāda: This is the statement of Mr. Cowper. Man has created nothing. Suppose this building, man has created. But wherefrom the ingredient comes. Has man created? This stone, man has created? Eh? What do you think? Is this stone, creation of man?

Paramahaṁsa: No.

Prabhupāda: Then what... You have done the work of a laborer. That's all. You have taken ingredients from God and worked hard and transformed into a step. That's all. Your creation means just like carpenter creates a furniture. That's all. That is his creation. Then that is... The economic law says that man cannot create anything. He can simply transform. These trees, has man created these trees? Why do they claim man has created everything?

Puṣṭa-kṛṣṇa: But they will say that they made the garden.

Prabhupāda: Eh?

Puṣṭa-kṛṣṇa: They will say that they made a very nice garden.

Prabhupāda: That's all. That is the business of gardener, servant, not creator. That is the business of the servant. Just like I keep a gardener servant, and "Do like this. Do like that." That is not he is creator. It is my money which has created. Therefore it is Kṛṣṇa's, everything. That is Kṛṣṇa consciousness, that you have not created anything. You are servant. You are working, and Kṛṣṇa is giving you your subsistence. That's all. So why don't you accept that you are servant of God instead of claiming that you have created. What you have created? This is our challenge. Am I right or wrong?

1975 Conversations and Morning Walks

But a real human being, he will never be happy. That is human being. Everyone is trying to improve his material condition. Therefore the motor car is going here and there, here and there. Why they are trying? Let them remain satisfied in any condition. The modern economic law is that create new necessities of life.

Morning Walk -- May 23, 1975, Melbourne:

Australian devotee 4: Why, then, Śrīla Prabhupāda, is a person given a human body then, if they...

Prabhupāda: Yes, that means better conscience. He can consider so many things. "Why I am dying? I do not want to die. Why there are so many miserable condition?" We are covering because there is miserable condition of this winter. I don't want to suffer from cold. Therefore I am covered. So this is struggle for existence. The human being can understand that why there is struggle? Why not I am happy naturally? This question must be there. Otherwise he is cat and dog. The dogs do not inquire all these things. Then if you have no such power to inquire and understand, then you are no better than dog. And if you are happy to remain cats and dogs, that is your business. But a real human being, he will never be happy. That is human being. Everyone is trying to improve his material condition. Therefore the motor car is going here and there, here and there. Why they are trying? Let them remain satisfied in any condition. The modern economic law is that create new necessities of life.

That is the way of western civilization. They are creating motor cars every year, and the bank is prepared to give you loan so that you may work day and night. Take loan from the bank and purchase a motor car and repay him by working so their machine will go on. This is the policy, economic policy. Is it not? Yes. Keep them working, busy. But what is the purpose of this working? Now, when death is there, everything is finished. And everything will be finished, for that working? Just see their knowledge. Everything will be finished and for this purpose I have to work so hard?

1972 Correspondence

More demand, higher price, less demand, lower price. That is the economic law. So do the needful according to the situation. But things must be done very nicely.

Letter to Jayapataka -- Honolulu 17 May, 1972:

Our mission is to establish God-consciousness. We can give more information about God from authentic literature. So every religion has got some relationship with God, that is preliminary understanding. But actually what is God, how we can understand Him, how He is working by His different energies, how He is creating, maintaining and annihilating—all this information we can give in details, therefore anyone who is interested in the matter of understanding God, they should give their patient hearing to our descriptions. The result will be that his faith in God will be increased. In other words, if any person who hears from us will become a greater lover of God and learn what is the highest perfection of life.

Unless it is absolutely necessary we should not purchase land at such high price. For the time being we are going to construct the residential quarters and then we shall take up the temple portion. So I think we can wait for some time. If we become very eager to purchase, naturally they will want to raise price. More demand, higher price, less demand, lower price. That is the economic law. So do the needful according to the situation. But things must be done very nicely.