I just don’t have the energy to write against the popular teaching (perhaps I have read the wrong books) that Hindu jurisprudence is contained within the Smriti, mainly the Manusmriti, and the property systems of the two schools — Mitakshara and Dayabhaga (I forget which region each school belongs to). But these are laws, not jurisprudence. I admit I do not know the subject of jurisprudence deeply — such a tragedy — but it seems to me these were laws made for the time and place according to the wisdom of the sages of that era. The Smriti writers themselves clearly said that the source of their understanding is the Veda. So, anyone who wants to understand exactly what truth Hindus hold must study the Vedas. Those who cannot may go through the Upanishads (major texts distilled by sages to teach the essence of the Jñāna part of the Veda). Those who still find that difficult may turn to the Mahabharata (which is in itself a “great battle” to understand), or they may study Mīmāṁsā, Nyāya-śāstra, or other branches of philosophy like Sāṅkhya-darśana to know what exactly Hindus regard as truth. And it is this conception of truth that guides jurisprudence (as far as my limited knowledge allows me to say). Nyāya-śāstra can guide the methods for executing law in court by providing principles of proof, valid knowledge, and procedure. My memory suggests that Sāṅkhya, Navya-Nyāya, and others also contribute here (ChatGPT can easily correct my naming if needed). Anyone who attempts to understand how Hindus guide justice may go through the Smritis, but that will be nothing more than being alive without enlightenment — yet enjoying the fruits of life. Since life in itself is enlightenment, it is poverty of mind to be unable to acknowledge that fact. Similarly, those who are rich in thoughts and complex philosophies — who run this complex world — may fail to sense that Smriti is law and that it lacks an explanation of justice or methods for reaching justice. It simply sets out rules, like the old-fashioned Jyotiṣa who just tables predictions (phala part) without explaining the rationale. Such predictions can be verified in their results but remain without the explanation of their methodology. It is root learning — yes, it is — when one knows, one knows; it is what it is.
I want to bow before great mother Vindhyabasini, all great sages of all times, great thinkers of western/eastern world and thankful to all friends who contributed to shape my thoughts.
Investors in equity market (secondary) are quite familiar with averaging practice of prices. When a stock of higher cost was already purchased but the prices drop down, then purchasing stocks at lower prices (must be probable to gain some increment in those latest prices) will average the per unit cost and given increment in latest prices but lower than previous prices till make loss over previously purchased stock lesser loss making. Now, thinking the institutional capacity of banks and financial institutions and production and distribution capacity of national economy, given flood of remittance, there must be a lag in mobilization of funds through banks. Thereby keeping interest rate at lower side till national economy's capacity to produce and distribute gets increased. However, let's imagine a scenario where funds are ever demanded and loans are distributed at higher cost. Deposit rates are increased in the name of liquidity problem or liquidity premium is so high that retu...
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