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The purpose of this paper is to show the limitations and inadequacies of the “Homo Economicus” model of human behaviour in terms of promoting human development and to outline directions for economics to promote “true human development”.

The paper first discusses the concept of “Homo Economicus” and the criticisms of this model. It then explains the ladder of human development as propounded by Bhagawan Sri Sathya Sai Baba. The paper compares the “Homo Economicus” model with this ladder of human development. The economic philosophy of Bhagawan Sri Sathya Sai Baba is then explained to show the proper way ahead. Finally the paper gives future directions for economics to aid in “true human development”.

The paper finds that the “Homo Economicus” model of human behaviour is inadequate and needs to be substituted with a broader framework. The economic philosophy of Bhagawan Sri Sathya Sai Baba gives clear directions to develop this broader framework.

The paper has practical implications in terms of understanding human development in the proper perspective and the steps that must be taken to move in this direction.

The paper compares the “Homo Economicus” model with the ladder of human development as outlined by Bhagawan Sri Sathya Sai Baba. The paper is also original because it gives future directions based on the economic philosophy of Bhagawan Sri Sathya Sai Baba.

The paper aims to discuss the management of financial market scandals using two different approaches – regulatory and values‐based.

The paper discusses the motivations behind financial scandals to occur and then explains in detail both the approaches. The paper first presents the elements of the regulatory approach. Using the teachings of Bhagavan Sri Sathya Sai Baba, the values‐based approach are delineated. The paper also compares the two approaches and identifies their respective utilities.

While both the regulatory and values based approaches have their own utilities; stressing the values‐based approach helps with preventing financial scandals on a sustainable basis.

The practical implication is that it is necessary to stress the evocation of human values among investors and capital market intermediaries so that scandals can be avoided.

The social implication of the paper is that values evocation is very important to tackle the behavioural motivations behind financial scandals. Unless values are evoked, the root causes of financial scandals will not be removed. In such cases, regulation will have only a limited effect.

The paper uses the philosophy and teachings of Bhagavan Sri Sathya Sai Baba to develop value guidelines to prevent financial scandals.

The 2008‐2009 global crisis was not only a financial calamity, but also a major ethical disaster. The purpose of this paper is to discuss the dharmic transgressions that took place in connection with the crisis using the philosophy of Bhagavan Sri Sathya Sai Baba, a world spiritual leader and teacher.

The paper initially gives a brief overview of the unfolding crisis, its devastation of the world economy and a review of related literature. The paper then outlines the concept of dharma which, as expounded by Bhagavan Baba, must ultimately result in social welfare. The paper goes on to analyze the factors that created, triggered and fuelled the crisis from this perspective. The paper also outlines solutions based on Baba's philosophy to prevent such a crisis from occurring in the future.

The fundamental finding of the paper is that the global financial crisis was triggered and fuelled by factors which were transgressions of dharma. Thus, the solution to prevent such a crisis is adherence to dharma.

The paper gives several recommendations to investors, institutions and regulators to act in a way to prevent such crises in the future.

If the principles of dharma are adhered to, they will not only prevent occurrence of financial crises, but will also make the financial system work for the welfare of the entire society.

The paper shows the relevance of the teachings of Bhagavan Baba which are quintessentially the philosophy of “Sanathana Dharma” (eternal dharma) in solving current economic problems and contributing to social welfare.

The purpose of this seminal paper is to present the concept of sustainability in its purest form as conceived by Kautilya and bring out its relevance to the current issues and the areas of concern in the global perspectives.

This paper goes with the premise that the concept of sustainable development (SD) as enunciated by the western theorists has not been fitted in an integrated framework. An attempt is made in this study, to bring to light an unwritten model of SD of Kautilya, which is universal in approach and relevant to many of the current issues of today.

The Kautilya's model of SD is an assimilation of idealistic and realistic views of human life. The quintessence of this model is that SD can be realized only if each one in a society lives for the other and all collectively for the welfare of the mankind.

The success of this model depends on the level of understanding, design of socio‐economic and political institutions required, the goals and the means set for oneself and society and the degree of accountability exhibited in implementing the model.

This model can be tailored to suit the requirements of modern society in the short run as well as in the long run.

This paper is original in nature because a modern concept like SD is analytically linked to the development‐design of Kautilya with a view to infusing profundity, realism and applicability to it.