Vicious Economic Spiral (VES Theory): A Realistic Diagnosis of Economic Evils in a Developing Bharat

Abstract

This article takes a fresh look at the Vicious Economic Spiral (VES) Theory—a way to understand the real roots behind the growing economic and social problems we're seeing in a developing country like Bharat. Instead of the usual idea that crime happens simply because people lack morals or money, it suggests that issues like unemployment, scarce resources, and insatiable desires—coupled with a decline in core human values—are trapping society in a dangerous cycle. From cyber scams to white-collar crimes, that cycle just keeps getting worse. Using real social trends and grounded theory, this article offers a model that’s beyond economics; it’s about values, empathy, and living mindfully. It also emphasizes how modern institutions—think education and media—sometimes unintentionally add fuel to the fire by promoting competition over kindness and consumerism over contentment. The problem isn’t just about not having jobs or money, but about losing our moral guide while chasing social success and status. The rise in cybercrime, economic scams, and youth disillusionment can’t be separated from the emotional stress and unrealistic expectations created by today’s consumer-driven society. The VES Theory encourages us to think more deeply about how we measure progress—are we just counting achievements and earnings, or are we also focusing on well-being, integrity, and making a positive contribution to social harmony? It’s a call to rethink what true success looks like.