Empowering Economics for Human Benefit
In a talk in Montreal in 1912, Abdu'l-Baha, the son of Baha'u'llah and the designated successor of the Baha'i Faith, urged for a world where people are endowed with justice, striving to provide for the comfort of all and creating a paradise-like world. This vision was further elaborated upon by Shoghi Effendi, the Guardian of the Baha'i Faith, who explained the divine nature of the economic solution.
The Baha'i Writings remind us of our moral and spiritual duty to protect and care for the poor, a responsibility that has become increasingly pressing in the face of the pandemic. Thousands of people are struggling with financial hardship, while a small percentage of people are adding billions to their already colossal wealth. This disparity has highlighted the need for a fundamental change in the economic system.
The solution proposed by the Baha'i Faith is Humanomics, a human system with human values and less of economics. This system aims to reshape economic systems to be more responsive to people's needs and to integrate morality and spirituality into economics.
To implement Humanomics, the economic focus should shift from pure profit and wealth accumulation to enhancing human and social welfare. This means developing policies and practices that emphasize equitable distribution, sustainability, and human dignity over mere financial metrics. Incorporating morality and spirituality may involve policy frameworks that incorporate ethical considerations explicitly, such as fairness, justice, and compassion.
Humanomics also involves systemic measures to combat inequality, including progressive taxation to fund social services, universal access to basic economic needs (healthcare, education, housing), and policies that reduce the wealth gap and support marginalized populations.
The present financial system is a by-product of the old order and was built on the assumption that people only think of their interest without concern for others. Humanomics may entail creating economic models and systems that capture real human needs and risks rather than purely financial abstractions.
The recent pandemic has shown the importance of aligning health and economic outcomes. Approaches like embedding equity in health systems demonstrate how analytics and evaluation tools can ensure systems serve populations fairly and holistically, reflecting Humanomics principles of equity and human-centric value.
While direct, detailed texts on Humanomics practical implementation were limited, this synthesis is based on integrating related expert views on economic justice, morality, and social-centered economics from the latest discourse. It's important to note that this is not a formal, fixed Humanomics implementation blueprint, and further research into primary Humanomics sources may be required for complete strategies.
Baha'u'llah, the prophet and founder of the Baha'i Faith, is known as "Father of the Poor." Practicing truthfulness, trustworthiness, and other moral values in economic activities is essential for creating a more sensitive economic system that serves humanity. The possibility of the economic system becoming more humane may seem like a far-fetched dream, but with desire and effort, it can be transformed into a tool for the prosperity of humanity.
Personal growth requires understanding and applying the teachings of Humanomics, a system advocated by the Baha'i Faith that integrates morality and spirituality into economic decision-making. This education-and-self-development journey involves recognizing the importance of equitable distribution, sustainability, and human dignity over financial gains and implementing policies that align with these principles for personal-finance management and business practices.
