Impact of Globalization and Liberalization on Indian Democratic Socialism

  • SHIV KUMAR SHARMA MJP Rohilkhand University Bareilly UP India
Keywords: Globalization, Liberalization, Democratic Socialism, Ethos, LPGC


??? ???????????? ???? ??????????, ???????????? ?? ?????? ?????????? ?[1]  Maha         Upanishad of Sam Veda tradition propounds that for noble persons who know the supreme truth, whole world is one family. Ancient Indians believed in sarve bhavantu sukhina or happiness of globe. When these Vedic principles are read with the eternal law of Dharma, concept of Vedic Bhumandalikaran (globalisation based on values of Veda) evolves. English philosopher Jeremy Bentham formulated, ‘greatest happiness of the greatest number’. Western 'primum non nocere' means first do no harm. John Stuart Mill stressed that power can be applied upon any member of society only to prevent harm. But LPGC- Liberalization, privatization and globalization when associate with corruption prepare the way for exploitation of some by others. Corruptocracy in the name of democracy and capitalism in the name of development have become tools of ‘minimum number of elites to swallow the share of maximum numbers’. In the contemporary materialistic and selfish world high ethical values are losing their significance. Accumulation of wealth not only for the use of oneself but for increasing red tapes has become ‘modern way of life’. This status improving property of wealth alarmingly proliferating outlawed traits among people of the world.



[1] Mantra VI-72, Maha Upanishad of Sam Veda legacy


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How to Cite
SHARMA, S. K. (2019). Impact of Globalization and Liberalization on Indian Democratic Socialism. Journal of Global Economy, 15(3), 189-201.