Hinduism Essay: History, Beliefs and Culture

Hinduism Essay: History, Beliefs and Culture Hinduism Hinduism is the world’s oldest organized religion existing for 4500 years. Based on the prehistoric Vedic text, it is a faith in constant change. Populated by an infinite amount of gods, the belief system is open to adopting any of the gods produced by younger religions. Reincarnation and Karma are the primary mechanisms of Hinduism. The Hindu religion also consists of a belief that man has seven principles; these principles consist of the Dense Physical Body, the Etheric Double, Prana, The Desire Body, Manas, Atma, and Finally Buddhi. The Indian Subcontinent is home to some of the world’s largest religions. Some of the religions are Jainism, Sikhism, and Hinduism. The word Hinduism is not found anywhere in scriptures, and the term Hindu was introduced by foreigners who referred to people living across the Indus or Sindhu River, in the north of India, around which the Vedic religion is thought to have originated. Hinduism believes that there is only one absolute called Brahman. Nevertheless, it does not advocate the worship of one God. Hindu’s believe that one characteristic of God is human, and their different Devas are nothing but various characteristics of nature, each recognized and worshipped. Sanatana Dharma which also means everlasting religion is a label preferred today for Hinduism. Sanatana reflects the principle that these ways have always existed, while Dharma includes duty, natural law, social welfare, morals, wellbeing, as well as transcendental awareness. Dharma is then a holistic approach to the good of all, subsequent to order in the cosmos. The holy language of Sanatana Dharma ranges from great simplicity to extreme sensuality, from the heights of individual dedication to the heights of intangible beliefs, from metaphysical proclamations of oneness behind the physical world to adoration of images representing a variety of deities. The cultural influences that have made Hinduism essential to the region in which it originated is that thousands of years ago, the beliefs in the Vedas were broken into various schools of thought by philosophers. These values were brought forth experientially by methods of great spiritual discipline. Unlike many other religions, Hinduism is a way of life; Therefore people who practice the Hindu religion attempt to teach their religious values by passing the word to their children and others. There are many sacred teachings that relay the word of Hinduism; the first is called Samhitas, these were hymns of praise to the gods. Soon after there was the Brahmanas, this was a book of guidelines regarding ceremonial sacrifices to the deities, finally, the last of the sacred teachings was the Upanishads, and this was a collection of teachings from highly recognized divine masters. These teachings explained the transformation that results from psychic contribution to the rituals. The Sanatana Dharma honors the divine in numerous forms; As a result, there is a religious celebration in India almost every day. There are sixteen religious holidays that are recognized by the Indian Government. Most Hindu celebrations articulate theology in its happiest parts, these festivals keep the religion alive. Every individual that practices Hinduism typically finds a way in which to place him or herself to a Guru, also known as a saintly educator. The label guru is applied to admired holy guides. Gurus do not declare themselves as teachers; followers are drawn to them because they have achieved the spiritual status the seekers aspire. Gurus are frequently regarded as enlightened individuals. A guru does not provide scholarly training; they offer guidance, good examples, and encouragement to those in search of enlightenment or self-realization. Works Cited Primary Source Easwaran, Eknath. The Bhagavad Gita. Trans. Eknath Easwaran. 2nd ed. Canada: Nilgiri P, 2007. The Bhagavad Gita, Prince Arjuna asks direct, adamant  questions of his holy guide on the eve of a great battle. In this expanded edition of the most renowned of Indian  criptures, Eknath Easwaran analyzes and explains the key concepts of Hindu religious thought and the difficult vocabulary of yoga. Accordingly, this translation uses simple, comprehensible words to convey the poetry, universality, and timelessness of the Gita’s teachings. Secondary Sources Besant, Annie. The Seven Principles of Man. 2nd ed. London: Theosophical Society, 1892. Besant lays out in specific terms the theosophical doctrine of our multidimensional being. Besant claims that mans nature has seven aspects that can be studied from many different points of view, with seven principles consisting of the Atma, Buddhi, Manas, Kama Rupa, Prana, Linga Sharira, and Sthula Sharira. Bhaskarananda, Swami. The Essentials of Hinduism. 2nd ed. Seattle, WA: Viveka P, 2002. Bhaskarananda’s book, â€Å"The Essentials of Hinduism† explains the philosophical ideas of Hinduism in a clear and easily understandable way, with many excellent analogies. The book covers the foundation and goal of Hinduism, concepts of God; the four yogas; creation and the three Gunas. The book explores the different spiritual paths, the holy books and doctrines of karma, reincarnation, and predestination. Panikkar, Raimon. A Dwelling Place for Wisdom. Trans. Annemarie S Kidder. Louisville, KY: Westminster, John Knox P, 1993. The title of this book is taken from the first chapter: â€Å"Prepare a Dwelling Place for Wisdom,† a lecture given in Munich by the Panikkar in 1990. The following three long chapters are lectures or essays given at various times and places, now translated into English. Panikkar draws on his broad understanding of Hinduism and Buddhism to present the reader with his unique insights into Wisdom. Wright, Leoline. An Anchient Basis for a New Psychology. Pasadena CA: Theosophical UP, 1998. Leoline Wright looks deeper into each principle of man, like Besant she explores mans nature in seven aspects, and thoroughly investigates the qualities of each principle. Works Cited Primary Source Easwaran, Eknath. The Bhagavad Gita. Trans. Eknath Easwaran. 2nd ed. Canada: Nilgiri P, 2007 Secondary Sources Besant, Annie. The Seven Principles of Man. 2nd ed. London: Theosophical Society, 1892. Bhaskarananda, Swami. The Essentials of Hinduism. 2nd ed. Seattle, WA: Viveka P, 2002. Panikkar, Raimon. A Dwelling Place for Wisdom. Trans. Annemarie S Kidder. Louisville, KY: Westminster, John Knox P, 1993. Wright, Leoline. An Anchient Basis for a New Psychology. Pasadena CA: Theosophical UP, 1998. Hinduism and the Seven Principles of man Price Controls: Advantages and Disadvantages Price Controls: Advantages and Disadvantages Price Control I. Introduction In a market economy, such as in the United States, the price of a good reflects the demand relative to the supply. This is a term known as scarcity.(Ten Things 2015) When an item has a high price it is said to be scarcer than an item of lower price. By looking at the relative prices of an item, consumers and producers can choose how to respond to market scarcity.(Ten Things 2015) Higher prices for example, can lead consumers to choose products that require less scarce resources. The government can play a significant role in a market economy in different ways. One of which is by setting what is called â€Å"price controls† on certain products and services. A price control is a maximum or minimum price that a government imposes on specified goods.(Sowell 2011) The most common type of price control is a price ceiling. This is simply when the maximum price is set below the market price. Common examples of price ceilings are rent controls. On the other end of the spectrum is a pric e floor. This is the opposite of a price ceiling in that a minimum price is set below the market price.(Sowell 2011) A common example of a price floor can be found in the agricultural markets. Price controls have existed all over the world for thousands of years and have applied to almost everything at some point in time.(Sowell 2011) According to economist Thomas Sowell price controls are imposed â€Å"in order to keep prices from rising to the levels that they would reach in response to supply and demand†(Sowell 2011) A large topic of interest regarding price control is, what affect does not allowing prices to fluctuate freely according to supply and demand but rather by law, have on the overall market. Most agree that price controls in the long run lead to shortages and surpluses as well as black markets and corruption, however most also agree that in markets where prices are volatile, price controls are a necessary evil. This paper will discuss the advantages and disadvan tages of price controls in regards to maximum and minimum price setting, as well as touch on the policies used to implement them. II. Disadvantages of Price Controls The disadvantages of price controls can be summed into two different scenarios. Both scenarios while relying on completely opposite regulations, lead to an unbalanced market. The first of the two scenarios is when a price ceiling is imposed. To reiterate this is when the maximum price is set by law to be lower than the market price. The instatement of a price ceiling leads to a fundamental Keynesian problem. By keeping prices artificially low, consumers naturally demand more of the product. When this number becomes greater than the producer is willing to supply we have what is called a shortage. Nobel Prize winner Milton Friedman once said, †We economists do not know much, but what we do know is how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can’t sell tomatoes for more than two cents per pound. Instantly you’ll have a tomato shortage† A market shortage commonly results in one or more of the following negative consequences. Black markets can arise in which products that are unavailable in the regular market are sold.(Price Controls Adv.) This can also be true of products with excess demand that are sold at higher prices than in the conventional market. Black markets often involve non-monetary bargaining methods such as nepotism and violence. Another common result of a market shortage is price discrimination. This is when similar goods or services are priced differently by the same producer to differing regions or groups of consumers.(Investopedia) Essentially this is the practice of charging different prices to different buyers of the same product. Theoretically price discrimination discourages the resale of a good and leads to a decrease in competition.(Investopedia) This is the foundation for a monopolistic economy that does not operate at maximum efficiency. Yet another result of a market shortage is the use of rations, or the controlled distribution of scarce goods and resources. A prime example of when rationing was used is during World War II, when food shortages pushed up prices so high that price controls and rations were used in an attempt to keep the cost of living reasonable. (World War II) Rationing often leads to the emergence of a black market as people seek out goods that are not available in the rationing system. ( The second scenario in the disadvantages of price controls is when the result of a price floor is a surplus. A surplus can be just as detrimental to the market as a shortage. Having an excess supply can result in the market being in disequilibrium. This occurs when the price of a good cannot be adjusted naturally due to price controls. In a state of disequilibrium a market is not operating efficiently. (Price Controls) One example of a price floor that can cause a surplus is that of the labor market. The minimum wage is an example of a price floor, which establishes a base line per hour wage. This can result in employers hiring fewer employees and subsequently the supply of workers exceeds the amount of work available causing the unemployment rate to go up. (Boundless) III. Advantages of Price Controls While there is certainly no arguing that in the long run price controls can lead to major economic drawbacks, there is a brighter history in the success of price controls in the short run. Generally speaking price controls can achieve three things. The first is that certain control regulations can ensure that necessary goods, such as food, remain affordable to most citizens. (Boundless) This can also be seen in more luxury markets such as football games. Tickets to important games are often set at a maximum price rather than the market price (which would often times be absurdly high) in order for the common supporter to attend the game.(Price Controls Adv) Secondly price controls can make sure producers receive enough revenue allowing them to adjust to the market climate and limit the possibility of a shortage. (Boundless)This is extremely important in the commodities market where there is frequent fluctuations in price.(Price Controls) Without price controls farmers would experience extreme ups and downs that would not allow for continued production. Price controls can also help during a time when a shortage has taken place. (Boundless)In the latter case price controls prevent producers from overcharging consumers. The most popular form of when price controls helped during a shortage is in the housing market. The use of a rent ceiling put a limit on the amount landlords could charge their tenants when the market would allow for detrimental price gouging. (Rockoff) Another practical example of a necessary price control is the use of a ceiling on interest rates. A ceiling here can take the pressure off of borrowers who were forced to take out loans in a time of desperation that very well could have been caused by the state of the nation. IV. Analyses of Price Controls Price controls can be quite tricky to analyze because there are contradictory ways of looking at each individual case. Going back to the football ticket example, while a proponent of price control legislation would argue that a ceiling allows for the common fan to attend games, a critic would argue at the same time that a shortage has been created and less total fans attended the game. Both sides are correct yet one policy must be made. This is a prime example of where long-standing political views collide with market economics. In analyses of the negative impacts of price controls one could argue that without letting a market naturally work its way back to equilibrium then we will never achieve efficiency. This is also where the positive impacts of price control show that welfare and market intervention can increase the standard of living. So it is a choice of whether the government wants to adhere to strict economic idealism and respect the balancing nature of Keynesian economics o r if it wants to intervene in order to prevent a possible disaster. I think the answer lies on a case to case basis. For instance in the case for putting a price floor on agricultural products, our country relies on the farming industry for our well-being and survival. Without control of the weather and other exogenous factors farmers often are in need of assistance to survive and I think most economists would argue that the most effective way of helping the would be to have a consistent price floor. In a different case however, such as the pharmaceutical market I believe there should be little government intervention. The danger in such an area is that a proposed price ceiling to make drugs affordable for seniors on Medicare would result in less profit gained by pharmaceutical companies. This would in turn cause a downward trend in their research and innovation spending prohibiting the discovery of new cures and medications. Another example of when a price control wasn’t per haps the best solution was in the 1970’s when the administration rose the demand for gasoline so high that long lines were found at gas stations throughout the country. (Rockoff) Most would agree that a good as necessary as gasoline, especially at the time, should not inhibit a citizens day to day schedule. V. Conclusion So in conclusion, the amount someone is willing to pay for an item is the items price. From here we derive our basic set of supply and demand functions for our market economy. Essential to the market economy is the term scarcity, demand relative to the supply. Scarcity is what determines the market for goods and services. If the government feels the need to intervene in the market it can implement a price control. The government can approach implementing a price control in two different ways. Price controls are defined as when a government sets a minimum or maximum price for a particular good or service. (Sowell 2011) In the arguments for and against price controls it can be found that most all price controls lead to an inefficient economy in the long run but a possible increase in market stability in the short run. (Sowell 2011) It is up to each administration to decide if government intervention is necessary and most economists agree that it is wise to proceed with the utmost cauti on when doing so. Price controls when ineffective can result in not only long term disequilibrium, but also negatively affect the day to day life of citizens. (This can be seen in the oil example of the 1970’s.) When effective price controls can protect both consumers and producers, increase market stability, and maintain a reasonable cost of living.(Such as the farming example) In analyses it is best to determine whether a price control should be used on a case by case basis because each market represents different views, challenges, and characteristics. It is important to learn from the past examples of price controls, as they have been occurring for thousands of years, as they will continue to shape not only our financial future but our political future as well. VI. References Boundless. â€Å"Arguments for and Against Government Price Controls.† Boundless Economics. Boundless, 03 Jul. 2014. Retrieved 25 Feb. 2015 from https://www.boundless.com/economics/textbooks/boundless-economics-textbook/introducing-supply-and-demand-3/government-intervention-and-disequilibrium-49/arguments-for-and-against-government-price-controls-188-12286/ Hugh Rockoff. Price Controls.The Concise Encyclopedia of Economics.2008. Library of Economics and Liberty. Retrieved February 25, 2015 from the World Wide Web: http://www.econlib.org/library/Enc/PriceControls.html Parker-Lue, S., Santoro, M., Koski, G. (2015). The Ethics and Economics of Pharmaceutical Pricing. Annual Review Of Pharmacology Toxicology, 55191-206. doi:10.1146/annurev-pharmtox-010814-124649 Price controls – advantages and disadvantages. (n.d.). Retrieved February 25, 2015, from http://www.economicshelp.org/blog/621/economics/price-controls-advantages-and-disadvantages/ Price Controls: Maximum and Minimum price. (n.d.). Retrieved February 25, 2015, from http://www.dineshbakshi.com/ib-economics/microeconomics/161-revision-notes/1766-price-controls-maximum-and-minimum-price Price Discrimination Definition | Investopedia. (2007, May 17). Retrieved February 25, 2015, from http://www.investopedia.com/terms/p/price_discrimination.asp Sowell, T. (2011).Basic economics: A common sense guide to the economy(4th ed., p. 21). New York, N.Y.: Basic Books. Ten Things Debaters Should Know About Economics. (n.d.). Retrieved February 25, 2015, from http://www.csun.edu/~dgw61315/aboutecon.html World War II on the home front: Rationing. (n.d.). Retrieved February 25, 2015, from http://www.learnnc.org/lp/editions/ww2-rationing/5922