Traditional Indian concept of time and its economic consequences

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Abstract
Values and judgements about time tend to agree with the local culture's major ideological premises, its normative framework, and the level of local technological development. In contrast to the essentially historical nature of European civilisation, Indian classical tradition denigrates time as mere illusion, emphasising the timeless nature of reality. This attitude, with the idea of rebirth, seems to have contributed to the diffuseness and devaluation of ideas of time in modern India. It leads to lethargic habits in the workforce, low industrial productivity, regular delays in completing commercial projects and, above all, to slow macro-economic growth.

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