How to take the callousness out of capitalism

Tuesday, 15 May 2012

The Dharma of Capitalism aims to redefine moneymaking, just as the world is doing the same. We speak to founder of Dharma Investments and the book’s author Nitesh Gor about the balance of business – and the mysterious ‘mode of goodness’

Tell us about the ‘mode of goodness’ mentioned in the book – what exactly is it?

It is one of the three primary modes of behaviour modified from Hindu teachings on human instincts. In The Dharma of Capitalism the other two modes are ignorance and passion. It is a concept – but also a strategic tool.

 

How can we use this tool?

We can assess how each mode motivates and influences every action in our working lives and, to a large extent, our personal lives.

 

How does this link to current issues in the business and financial worlds?

Behind the mode of goodness is the shift towards a more long-term view of profitability, one that factors in a wider range of stakeholders, rather than just dealing with the immediate, with instant and individual gratification.

 

What is the background behind the book?

We initially set up Dharma Investments with a view to creating a global Dharma Index monitored by Dow Jones. The concept developed into the Dharma Consultancy, which works to refocus attention on leadership and individual responsibility.

Why is it so timely?

Recent economic events have shaken up the way people view capitalism. The 1970s definition of capitalism as the pursuit of profit has been exposed as destructive, and has now become irrelevant.

 

What has been the problem?

We have seen the mode of passion being at the forefront of business motivations, and the problem with this is that it creates a state of flux. The markets have been too transient; we are now seeing the value in creating a stable, sustainable pattern. Austerity – not just cuts, but the restraint from pursuing short-term earning boosts – is key to this.

 

What do you hope the book will achieve?

Banks, politicians and society are talking about the concepts, and I hope that The Dharma of Capitalism will provide the framework for these discussions. The danger is if questions get lost – without something to back them up they simply stay as ideology. We want the concept of a higher purpose to become constructive, as opposed to a catchphrase.

 

Find out more

The Dharma of Capitalism – A Guide to Mindful Decision Making in the Business of Life is available now from Kogan Page, hardback £12.99 RRP