Delivered by Maxwell Ranasinghe to MCGP forum
Introduction
Market based economy is an economic system (neo-liberalism) that prioritizes the accumulation of capital and profits, and on the other hand, sustainability focuses on meeting the needs of the present generation without compromising the ability of future generations to meet their own needs, with a focus on environmental, social, and economic well-being. While sustainability can contribute positively to addressing social and environmental issues, it may not necessarily address the inherent inequalities and power imbalances that exist within market based economic system.
Market based economist, or neoliberals believe in free markets, limited government intervention, and individual responsibility. Some people argue that sustainability is a new religion of neoliberalism because it emphasizes individual responsibility and market-based solutions to environmental problems.
However, there are important differences between sustainability and neoliberalism. Sustainability is not about individual responsibility alone. It is also about collective action and government intervention. For example, governments can regulate pollution, provide incentives for sustainable practices, and invest in renewable energy. Sustainability attempts to provide a human face for the vicious market-based mechanism. Sustainability is also not about free markets alone. It is about finding ways to balance economic growth with environmental protection. This may require government intervention to correct market failures, such as pollution.
Therefore, sustainability may not be considered as the new religion of neoliberalism as it is a complex and multifaceted issue that requires a variety of approaches, including individual responsibility, market-based solutions, and government intervention. Then let’s probe whether there is a relationship with religions and sustainability, to what extent sustainability will play a role in sharing social justice and fairness that is advocated by religions.
Complex concepts to merge
Religion and sustainability are broad and complex concepts that can be approached from various perspectives. Religions exert influence on the economic, socio-cultural aspects of human societies, including how business is conducted, taxes are paid, notions of right and wrong are determined, how respect is shown to each other, laws, customs and consumption patterns are shaped. Similarly, sustainability initiatives of the market economy attempt to influence many of these economic and socio-cultural aspects of humanity. However, the relationship between religion and sustainability is not straightforward or uniform, as it depends on factors such as context, culture, history, and practices. While some religions may espouse teachings or values that support environmental stewardship and social justice, others may hold beliefs or practices that conflict with or disregard sustainability goals. Therefore, comparing religion and sustainability requires a nuanced and multidimensional analysis that accounts for the diversity and complexity of both phenomena. On the other hand, one may argue that religion and sustainability, can go hand in hand depending on how it is understood and practiced by different communities and individuals. This article posits that for sustainability initiatives to be established and implemented effectively current market economy, they should be viewed as a modern religion that can coexist and complement other established religions. Furthermore, it discusses the similarities and differences between both phenomena, what sustainability can learn from the practices and administrations of religions that have sustained for centuries.
Religions and social justice
Religions have played a complex and multifaceted role in shaping social justice and fairness in the world. While they have often been a source of inspiration and advocacy for social justice, they have also been implicated in promoting inequality, discrimination, and social injustices at various times in history. The impact of religions on social justice and fairness is influenced by numerous factors, including interpretations of religious texts, cultural contexts, historical circumstances, and the actions of religious institutions and leaders.
Sustainability to mitigate the negative effects.
In this scenario, sustainability initiatives can potentially play a role in mitigating the negative effects of market-based economic systems where religions have not been able to achieve. In a different note, it can align with certain values and principles promoted by religions, such as care for the environment, social justice, and compassion for marginalized communities. For example, some religious traditions emphasize the importance of stewardship of the Earth and the protection of natural resources as part of their teachings. Sustainability initiatives can provide a practical framework for implementing them in economic systems. Sustainability initiatives can promote responsible resource management, fair labor practices, environmental conservation, and social inclusion, among other principles. By incorporating sustainability into economic decision-making, market-based economies can potentially become more responsible and equitable.
Sustainability to transform the capitalist.
Sustainability can play a role in transforming the market-based systems towards fairness by integrating social and environmental considerations into economic decision-making. For example, sustainable business practices that prioritize social and environmental responsibility, such as fair wages, worker protections, and environmentally friendly production processes, can contribute to more equitable outcomes. Sustainable resource management can also ensure that resources are distributed fairly and not exploited at the expense of vulnerable communities or future generations. However, achieving fairness in economic systems requires a comprehensive approach that goes beyond sustainability alone. It requires addressing the underlying structural and systemic issues that perpetuate inequality and working towards economic systems that are built on principles of fairness, social justice, and sustainability.
Values and Beliefs
Both sustainability and religion often involve a set of values and beliefs that guide one’s actions and behaviors. In sustainability, the belief is that our actions should strive to create a balanced and harmonious relationship between society, environment, and economy, with consideration for future generations. In religion, the beliefs and values are often based on a set of principles or teachings that guide an individual’s actions in alignment with their faith.
Faith and Commitment
Just as religion requires faith and commitment to its teachings, the practice of sustainability also requires a similar level of dedication and commitment. Sustainability involves making choices and taking actions that prioritize long-term well-being over short-term gains, even when it may require sacrifice or effort. It requires a sense of responsibility towards the planet and future generations, and a commitment to taking actions that are aligned with sustainable principles.
Community and Collective Effort
Religion often involves a sense of community and collective effort, where individuals come together to practice and uphold their faith. Similarly, sustainability is not an individual endeavor, but a collective effort that requires collaboration and cooperation across different stakeholders, including individuals, communities, organizations, governments, and nations. It involves working together towards common sustainability goals and supporting each other in making sustainable choices and actions.
Religion often involves rituals and practices that are performed regularly to express and reinforce one’s faith. Similarly, sustainability also involves adopting certain practices and behaviors in our daily lives that align with sustainable principles, such as reducing ones carbon footprint, conserving energy, practicing eco-friendly habits, supporting sustainable products, and advocating for sustainable policies. These practices become a part of an individual’s lifestyle and help create a sense of connection and commitment towards sustainability, just like religious rituals.
Books, stories, proponents, and symbols
Religion often refers to holy books, remarkable stories, and uses symbols to explain its principles, dogma, and beliefs. Proponents such as Jesus Christ, Lord Buddha, Prophet Mohammed, Adi Shankaracharya, Ramanuj Acharya, Confucius etc., sustainability also have proponents such as Herman Daly, E.F. Schumacher, Wangari Mathaai, Vandana Shiva etc. Similarly, sustainability also involves seminal books, declarations from international conferences, stories about the impact of human activities on the environment, as well as success stories of corporations adopting sustainable practices such as waste reduction, energy conservation, and eco-friendly habits. Additionally, different symbols are used to represent fundamental elements of sustainability, just as in religion.
Sense of Purpose and Meaning
Both religion and sustainability can provide individuals with a sense of purpose and meaning in their lives. Religion often gives individuals a sense of connection to a higher power, while sustainability can provide a sense of connection to the natural world and a greater purpose of protecting and preserving it for current and future generations. Both can instill a sense of responsibility, stewardship, and mindfulness in individuals, guiding them to live purpose-driven lives that go beyond their personal interests.
Personal Transformation
Just as religion can bring about personal transformation and growth, the practice of sustainability can also lead to personal growth and development. Embracing sustainability often requires individuals to change their mindset, habits, and behaviors, and to adopt a more holistic and systemic approach to decision-making. It can lead to increased awareness, consciousness, and mindfulness in individuals, leading to their personal growth and transformation.
Institutional Setup
Religions are well-established and institutionalized, with hierarchical organizational structures, rules and regulations, administrative setups, schools, and training centers. Similarly, to establish and promote sustainability on a global scale, a similar type of institutional setup and operational framework is required. This could involve the collaboration of universities, national and international organizations, NGOs, and other stakeholders to create a robust institutional setup for sustainability initiatives. Just as religions have superior leaders at the top and leaders at various levels, sustainability initiatives could benefit from having leadership structures at international, national, and local levels to promote, implement, and sustain sustainability initiatives effectively.
Funds
Just as religions have mobilized significant funds to teach, propagate, and implement their practices, inculcating sustainability among individuals, communities, corporations, and countries requires substantial funding. Devotees, governments, and other organizations have provided funds to religious institutions for extended periods of time, and these institutions continue to grow their wealth through investments and donations. However, establishing sustainability initiatives may require a large amount of funding in a relatively short period, as sustainability initiatives do not have accumulated funds like religious institutions. Therefore, it is crucial for the wealthy individuals, organizations and countries to contribute to a global initial fund for sustainability, and establish mechanisms for regular commitments of funds to sustain the sustainability initiatives at both global and local levels. This funding mechanism is already indicated in the recent United Nations conventions on sustainability.
Conclusion
Religions have played a complex and multifaceted role in shaping social justice and fairness in the world. While they have often been a source of inspiration and advocacy for social justice, in practice they have also been implicated in promoting inequality, discrimination, and social injustices at various times in history. The impact of religions on social justice and fairness is influenced by numerous factors, including interpretations of religious texts, cultural contexts, historical circumstances, and the actions of religious institutions and leaders.
The practice of sustainability shares similarities with the practice of religion in terms of values, beliefs, faith, commitment, community, rituals, practices, sense of purpose, institutional setup, funding, and personal transformation. While they may not be identical, they both require a deep-seated commitment, a sense of responsibility towards a greater good, and an intentional effort to incorporate sustainable principles into our daily lives.
Ultimately, whether sustainability is a new religion is a matter of personal belief. However, there is no doubt that sustainability is a powerful force that can transform our lives and our world.
Keywords: Religion, Neo liberalism, Market based economy, Sustainability