Guest guest Posted February 28, 2002 Report Share Posted February 28, 2002 ---------- Forwarded Message ---------- New Text 149 (14 lines) Bhakti Vikasa Swami 25-May-00 10:00 (15:30 +0530) Prabhupada Said Hari Sauri (das) ACBSP Satyanarayana (das) ACBSP (Hartford, CT - USA) share markets and gambling --------------------------- Srila Prabhupada equated speculative business enterprise with gambling. "Gambling of all description, even speculative business enterprise, is considered to be degrading... SB 1.17.38 My understanding is that this would especially mean activities like playing the stock market, which, like other forms of gambling, means taking risks in the hope of getting quick money with little effort. Steady investment with relatively reliable returns, such as in government bonds, would therefore not be considered gambling. Any comments? (Text 149) ---------------- ------- End of Forwarded Message ------ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 8, 2002 Report Share Posted March 8, 2002 Srila Prabhupada equated speculative business enterprise with gambling. "Gambling of all description, even speculative business enterprise, is considered to be degrading... SB 1.17.38 My understanding is that this would especially mean activities like playing the stock market, which, like other forms of gambling, means taking risks in the hope of getting quick money with little effort. Steady investment with relatively reliable returns, such as in government bonds, would therefore not be considered gambling. Any comments? Haribol What exactly does the word "speculative" mean here? In philosophical discourse, we would consider it to mean deviating from a basic philosophical framework of shastra. The phrase "speculative business" indicates there are standard bona-fide business practices and other practices which differ or deviate from this. In business, what is the deviation in reference to? If one researches a company well and chooses to buy its stock, then one becomes an owner or partner of a tiny fraction of the company. On the other hand, if one chooses something "stable" like gov't bonds or a bank, then one may be risking slow losses of one's or Krishna's money since actual inflation can be greater than the small gains. In these cases, which is speculative and which is bonafide? Therefore, it would be helpful to ascertain from shastra or some artha-shastra what is bona-fide business. ys Gerald Surya Quote Link to comment Share on other sites More sharing options...
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