Page 47 - IMDR - Journal of Management Development and Research - March2019-20

religion, nation and ideology. The point is that actualisation of individual potential is

closely linked with free, fair and ethical social conditions. Free individual is an
essential condition for free society.

In the end of this paper, we mention two other forces that dominate our living in the
contemporary world, and they are a) Market and 2) personality market

Dominance of Market and Personality market

The Market: Trade and commerce have evolved from barter system to present day
market system of Stock markets and Malls. Transactions between buyers and sellers is

possible with money as a means of currency for exchange of goods and services. But
unlike barter system, which was based on ‘use value’ of the goods in buyer- seller

transactions, value in the present day ‘market’ is determined by ‘exchange value’. In
other words, a seller can enhance exchange value of goods with marketing efforts

either brand building and also by unethical means like artificial scarcity of goods,

oligopoly, pricing, lobbying etc. The point is that exchange value can be many times
higher than the production and use value. Market perception developed by media is

more influential than the actual experience or reality. Also, vested interest groups can

inflate exchange value of goods with low use value. For example, farm- products in
India in the recent past are priced so low in commodity market that farmers have

destroyed the crops and committed suicides in a large number. Markets are ruthless
and they represent the dark side of an economy driven by capital.

The impact is that those who are victims of the market lose faith in honest work and

what is relevant to our topic is that there is a loss self -respect and confidence.

Maslow’s theory of motivation rightly mentions that without satisfaction of self-
esteem and recognition need, a person cannot aspire for next higher level of need, i.e.

self- actualisation.

Market logic may go against the natural tendency of humans to grow and develop
which is a fundamental belief and assumption of Humanist school of psychology to

which Maslow belonged. The challenge for those who live in post -modern world is

for those who aspire for actualisation of potential also depend on the market for
survival. The market converts humans into either a commodity or faceless consumers.

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