Gandhiji on Wealth


wealthymatters.com

“It is my conviction that it is possible to acquire riches without consciously doing wrong. For example I may light on a gold mine in my one acre of land. But I accept the proposition that it is better not to desire wealth than to acquire it, and become its trustee. I gave up my own long ago, which should be proof enough of what I would like others to do. But what am I to advise those who are already wealthy or who would not shed the desire for wealth? I can only say to them that they should use their wealth for service.

It is true that generally the rich spend more on themselves than they need. But this can be avoided. Jamnalalji spent far less on himself than men of his own economic status and even than many middle-class men. I have come across innumerable rich persons who are stingy on themselves. For some it is a part of their nature to spend next to nothing on themselves, and they do not think that they acquire merit in so doing.

 The same applies to the sons of the wealthy. Personally, I do not believe in inherited riches. The well-to-do should educate and bring up their children so that they may learn how to be independent. The tragedy is that they do not do so. Their children do get some education, they even recite verses in praise of poverty, but they have no compunction about helping themselves to parental wealth. That being so, I exercise my common sense and advise what is practicable.

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Gandhiji on Trusteeship


wealthymatters.com

Following are some of Gandhiji’s favourite quotes from the Gita:

Na twaham kamep rajyam na swarnam na puparbhavam
Kamaye dukh taptanam praninamarti nashwam

Neither I desire a Kingdom nor do I crave for heaven or salvation, I simply desire the end of miseries of all creatures who are afflicted with grief.

Javata Priyate Dehuh Tavatsatva Hidehinam
Adhikam yo bhibhanayat sa stano Dand marhati

As much as is necessary for one’s own living only that much is one entitled to have. One who has excess of this is a thief and deserves punishment.

Ishtan bhogan hi wo deva dasyante yagna bhavitah
Tairdattan pradaryabhyo yo bhangyakte sten aiv sah

Fostered by sacrifice (hard work) you will get all enjoyments. He who enjoys it without sacrifice and giving in return is undoubtedly a thief.

These words from the Gita shaped Gandhiji’s thoughts on his concept of trusteeship of wealth.Following is an explanation of the concept in his own words:

‘Suppose I have earned a fair amount of wealth either by way of legacy or by means of trade and industry. I must know that all that belongs to me is the right to an honorable livelihood no better than what is enjoyed by million of others, the rest of my wealth belongs to the community and is to be used for the welfare of the community.’ Read more of this post

Per Capita Gold Jewellery Consumption Per Year


wealthymatters.comFor all those complaining about the amount of gold jewellery that Indian women consume , take a look at this graph.Less than 5 grams per capita doesn’t seem all that excessive compared to the figures for Saudi Arabia and Hong Kong.

Interestingly,the fastest growth in consumption comes from China.The 2009 figure was 1/4th of a gram per person.

The Meaning Of Wealth


wealthymatters.comFollowing is a very interesting article from the WSJ on what wealth actually means to people from different countries round the world.It’s interesting reading why people might actually want wealth in the first place and what they choose to do once they have it.The most interesting question is ,of course ,why people  choose to do what they choose to do?

Wall Street Journal by Robert Frank
Monday, May 24, 2010

We like to think the reasons for seeking wealth are universal. Humans, by nature, like to be comfortable, like to have power and like to have the choices and freedoms offered by lots of stuff and money.

Yet it turns out there are some regional variations in the meaning of wealth around the world.

The new Barclay’s Wealth Insights study, released this morning from Barclay’s Wealth and Ledbury Research, finds that the emerging-market rich view wealth very differently from the older-money Europeans and the slightly less nouveaux Americans.

The study surveyed 2,000 people from 20 countries with investible assets of $1.5 million or more. They shared some common themes: a vast majority of rich people from all regions agreed that wealth enables them to buy the best products and that wealth gives them freedom of choice in their life. Most also agreed that wealth is a reward for hard work. Read more of this post

I’ve Joined Tne RandomBlog2011 Challenge


wealthymatters.comI’m a bit late, but I’ve decided to join the RandomBlog2011 challenge I found at http://whatsbuggingmetoday.wordpress.com/randomblog2011-challenge/. So here is what I’ll do :-

1.    I will read a minimum of 2 new blog posts every day from any of the tags on WordPress.com at a blog I have never visited before.

2.    I will look outside of my comfort zone and read something totally different from what I normally would. In this way I will expand my horizon.

3.    I will go “Tag Surfing” on the Hot Topics page.

4.    I will follow a “comment trail” – starting with a comment on a friend’s blog from someone I’ve never met and see how far it takes me.

5.    I will try and find new bloggers looking for readers and leave a “like” and a “comment”and ssk them to join in the fun and check out the RandomBlog2011 Challenge.

6.    I will tag my own posts with RandomBlog2011.

7.    I will visit the Daily Post and read through the comments and see if I can find someone looking for readers.

8.  I will specially visit and comment on blogs that may have recently joined the WordPress PostADay2001 or PostAWeek 2011 Challenge.