Bhaktivedanta VedaBase: Śrīmad Bhāgavatam 7.6.4

tat-prayāso na kartavyo

yata āyur-vyayaḥ param

na tathā vindate kṣemaḿ

mukunda-caraṇāmbujam

SYNONYMS

tat — for that (sense gratification and economic development); prayāsaḥ — endeavor; na — not; kartavyaḥ — to be done; yataḥ — from which; āyuḥ-vyayaḥ — waste of the duration of life; param — only or ultimately; na — nor; tathā — in that way; vindate — enjoys; kṣemam — the ultimate goal of life; mukunda — of the Supreme Personality of Godhead, who can deliver one from the material clutches; caraṇa-ambujam — the lotus feet.

TRANSLATION

Endeavors merely for sense gratification or material happiness through economic development are not to be performed, for they result only in a loss of time and energy, with no actual profit. If one's endeavors are directed toward Kṛṣṇa consciousness, one can surely attain the spiritual platform of self-realization. There is no such benefit from engaging oneself in economic development.

PURPORT

We see materialistic persons busily engaged in economic development all day and all night, trying to increase their material opulence, but even if we suppose that they get some benefit from such endeavors, that does not solve the real problem of their lives. Nor do they know what the real problem of life is. This is due to a lack of spiritual education. Especially in the present age, every man is in darkness, in the bodily conception of life, not knowing anything of the spirit soul and its needs. Misguided by the blind leaders of society, people consider the body to be everything, and they are engaged in trying to keep the body materially comfortable. Such a civilization is condemned because it does not lead humanity toward knowing the real goal of life. People are simply wasting time and the valuable gift of the human form because a human being who does not cultivate spiritual life but dies like the cats and dogs is degraded in his next life. From human life, such a person is put into the cycle of continuous birth and death. Thus one loses the true benefit of human life, which is to become Kṛṣṇa conscious and solve life's problems.

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His Divine Grace A. C. Bhaktivedanta Swami Prabhupāda, Founder Ācārya of the International Society for Krishna Consciousness