From Politics to Maya: A Descent Through Economics, Democracy, and the Illusion of Reality - Ideas in Progress: Meaning, Mischief & Mayhem

I started this week as I usually do — got the kids ready for school, brewed a pot of coffee, and sat down to read the news. And there it was again: the same old drivel.

The Guardian says the poor are being squeezed, public services are crumbling, and the rich are getting richer.
The Telegraph says the rich are being squeezed and will flee the country, the public sector is bloated, and the economy’s in the doldrums.

That’s when my descent into one of the most fascinating internal dialogues I’ve had in a while began.

Because, like everything else in this world, the truth probably lies somewhere in between.

Public services have shrunk — especially where they matter: local government, mental health, legal aid. But the public sector is still massive: 5.7 million employees and growing.

Wealth inequality has increased. Asset owners have done well over the last two decades. But income inequality, in many places, has stabilised or declined, thanks to redistribution. High earners are taxed heavily — but the ultra-rich still use loopholes. The middle class really is squeezed — shouldering the weight of both top and bottom while battling housing, inflation, and taxation. And working-age poverty in the UK is undeniably growing.

So, what’s really happening?

Both sides are right — about different things. Like the parable of the six blind men and the elephant, they describe parts of the truth.
The system is inefficient and unfair, fuelling both narratives.
The poor are being squeezed, the middle class is drained, and the ultra-rich often float above the rules.
The public sector isn’t bloated or broken — it’s misaligned.

We need a new narrative — one that lives in the centre, without being wishy-washy.
A belief that government must be efficient, but not dehumanising.
That wealth creation is good — but rentier capitalism is parasitic.
That not all government spending is productive — but not all cuts are wise.

But is such a middle ground even possible?

That took me deeper. To capitalism, socialism, and the nature of government.

Capitalism isn’t the villain. It’s simply voluntary exchange and private ownership, with innovation as its engine.
But distort it with rent-seeking, cronyism, and regulatory capture — and it becomes toxic.

What if governments did only the bare minimum? Just protect property, enforce contracts, maintain basic order?

That sounds elegant. But what about monopolies? Externalities? Market failure?

Which brought me back to balance.
It’s not capitalism vs socialism — it’s about where power lies, and how well power is constrained.

And then I got thinking about democracy.

In theory, it represents the people.
In practice, it rewards short-term pandering.

Politicians promise freebies paid by future taxpayers, blame others, and defer hard decisions.
Voters, meanwhile, are rationally ignorant, emotionally reactive, and detached from the consequences of what they demand.

So, we get policies that sound good, but don’t work.

Is there a better system? Probably not. All systems decay.
The key is discipline — disciplined democracy, with guardrails against both mob rule and elite capture.

But here’s the catch: if the electorate is undisciplined, how can democracy be disciplined?

Even the United States — with its founding brilliance, separation of powers, and constitutional foresight — is now polarised to tribal madness, fiscally reckless, and drifting in public trust.

So maybe, just maybe, the ancients were right.

Everything That Rises Must Fall

Hindu philosophy teaches us that time is cyclical, not linear.
Everything that is created will decay. Every order, no matter how divine, will dissolve — only to be reborn.

This stands in stark contrast to Western belief: that history moves forward, that democracy and science will solve human nature.

But what if the opposite is true?

And now we come full circle — to human nature, money, and economics.

I’ve been reading Richard Murphy’s blog, a UK advocate of Modern Monetary Theory (MMT). It’s a fascinating idea: that governments who issue fiat currency don’t need to borrow before spending. They can print, and use taxes and interest rates to manage demand.

It sounds liberating — until you remember human nature.

MMT assumes governments will be wise. That politicians won’t misuse the printing press. That inflation will remain tame. But once people get their hands on an unlimited money tree — they don’t stop.

Inflation is not just economic — it’s psychological.
Taxation is not just policy — it’s political suicide.

It’s like giving a suave conman unlimited IOUs and hoping he won’t take the piss. But in this case, when the con collapses, the people suffer — not the conman.

And that’s when it hit me: economics is not the study of the economy. It’s the study of human behaviour.

Money works because we believe it does. Debt exists because we trust it will be repaid. Stock markets are dreams priced daily.

Money is imaginary.
Debt is imaginary.
Valuations are imaginary.
Nations are imaginary.

But imaginary isn’t fake.
Laws are imaginary — yet we obey them.
Corporations are imaginary — yet they employ millions.
Governments are imaginary — yet they wage wars and collect taxes.

These are shared hallucinations. And when belief breaks — they crumble.

So why don’t they collapse more often?

Because humans are creatures of habit. Because institutions anchor belief. Because we prefer the familiar lie to the terrifying unknown.

And in that moment, Krishna’s words came flooding back:

“Naasato vidyate bhaavo, naabhaavo vidyate satah”
That which is unreal never is; that which is real never ceases to be.

Everything in this world — wealth, success, identity, politics, love — is conditional, temporary, unreal in the deepest sense.

But Krishna doesn’t say renounce the world. He says:

Act in the world, but don’t be of the world.
Do your duty. Practice detachment. Anchor your actions in dharma, not desire.

This is Karma Yoga.
It applies to kings, warriors, entrepreneurs — even binmen.

Money, power, and creation are not the truth. They are tools.
And if used with clarity, discipline, and detachment — they still matter, even in the dream.

I’ll leave you with my favourite verses:

कर्मण्येवाधिकारस्ते मा फलेषु कदाचन।
मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥

Karmaṇy-evādhikāras te mā phaleṣu kadācana
Mā karma-phala-hetur bhūr mā te saṅgo ‘stv akarmaṇi

You have the right to perform your duties,
but not to the fruits of your actions.
Never think of yourself as the cause of the outcome,
and do not be attached to inaction.

सर्वं कृष्णार्पणमस्तु।
“May everything be offered to Krishna.”