Jainism and Ethical Finance: A Timeless Business Model

Atul Shah · Aidan Rankin

Eph 2017 · Routledge

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The financial crisis of 2008 has led to a re-evaluation of the role of financial institutions and their relationship with the wider economy and society. This process has meant an increased questioning of both the conduct of business itself and the principles behind commercial and financial activities. Yet non-western voices have been notably absent from this debate, as have alternatives to the dominant western-derived economic ideologies. From the ancient spiritual wisdom or Dharma of the Jains, there emerges a practical modern philosophy fully in tune with the re-emergence of India as a global economic power. Jain individuals, businesses and charities have played a powerful role in India’s rise and within the global Indian Diaspora. Jain communities are noted everywhere for their contributions to business, the professions and science. These successes are based on the principles of interdependence and co-operation, with an emphasis on long-term consolidation rather than short-term bursts of growth. Researchers and students interested in the ethics of finance, accounting and economics will find Jainism and Ethical Finance a scholarly and illuminating evaluation of Jain Dharma as a non-western case study. In the light of current concerns about the way global finance and banking systems operate, this book offers a timely alternative perspective.

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Atul K. Shah PhD ACA is an academic, senior lecturer at Suffolk Business School, chartered accountant and social entrepreneur. A Jain community leader in the UK, he is a founder of Jain Spirit magazine and Young Jains. Atul is author of Celebrating Diversity (2007) and contributes to numerous financial journals.

Aidan Rankin MA (Oxon) MSc (Econ.) PhD is a London-based independent scholar and property consultant. He has written three books on Jain thought: The Jain Path: Ancient Wisdom for the West (2006), Many-Sided Wisdom: A New Politics of the Spirit (2010) and Living Jainism: An Ethical Science (2013).