Plutocracy: Know More About this Subtle Economic Evil that is Slow Poisoning this Earth to Catastrophe!

Have you ever heard about this word Plutocracy?

Since you are reading this blog in English, the chances of you knowing about Aristocracy, Democracy, Bureaucracy and Technocracy could be a better possibility. But plutocracy is a relatively a new term and in the 'free market' and 'liberalized' world order of the current times, it is very very important to know more about it, if you haven't known about it earlier.

Plutocracy is the situation when a society is indirectly ruled by a few rich individuals. It is the situation when a handful of the wealthiest people indirectly controls the country or the world and its governments and the people.

If you have the intelligence, capacity and interest you should consider knowing more about this by reading about it in Wikipedia.[ Read about Plutocracy in Wiki by clicking here!] 

Now you should consider reading the research article by the Global Research Centre for Research on Globalization on Global Plutocracy.

Let me quote a few lines from this article which warns us about the modern economic evil called plutocracy:

There is no parallel in human history to the immense concentration of wealth that exists today, nor to the extremes of parasitism and decadence that constitute the “new normal.” Contemporary capitalism—what the ruling class and its political and media flunkies call the “free enterprise system”—has created a world in which every policy decision is dictated by the need to protect and increase the wealth of an infinitesimal portion of the world’s population.

This global plutocracy—by definition, a society governed by the wealthy—generates a huge and ever-increasing portion of the ruling elite’s wealth not from the production of useful products and expansion of society’s productive capacities, but from the manipulation of money, speculation and outright swindling—essentially criminal activities that are destructive of the productive forces.

A few hundred people, backed by an army of bribed politicians, academic apologists, intelligence spooks, experts of all sorts and the repressive force of the military and police, hold civilization by the throat and threaten to destroy it to satisfy their insatiable greed.

This social—or, to be more precise, anti-social—element is virulently hostile to the people, contemptuous of democratic rights, and militaristic.

In its effort to expand its personal wealth, it relentlessly attacks the living standards of the working class—the vast majority of the population. All over the world, governments controlled by the plutocrats impose ever more painful austerity, cutting wages, slashing jobs, dismantling social programs, closing schools, gutting health care. State treasuries are emptied to provide bailouts to the banks and corporations and central banks pump trillions into the financial markets to drive up stock prices, corporate profits and CEO pay. All legal restrictions on profit-making are lifted.

If a few persons are managing the wealth of the nation or the globe wisely, I should not have any problem with that. Rather no one should have and we should be happy. But if they draw their wisdom from evil sources and not as per divine guidance, then they are perhaps becoming agents of  evil forces either knowingly or unknowingly. The end result would be catastrophe or painful destruction and misery. 

When some one becomes a victim of slow poison, it is not very easy to understand its effects immediately. But end result is sure.

How do you know whether you are an advocate of plutocracy? 

You should consider reading this blog too where you can read about the  divine advice regarding management of wealth .

What could be done to prevent plutocracy from slow poisoning our world to catastrophe?

It is time to think!

What Prevents Most Indian Business Men to Excel Globally ?

This blog is not about those Indian businessmen who made  global foot prints by acquiring large business firms in foreign lands. It is about those hardworking Indians who through sheer enthusiasm and dedication have successfully manufactured useful products and yet could not keep a noteworthy presence of their products in the market. Many of them either carry out their businesses on a low profile or proceed in a wavy manner or simply vanish from the scenes without any one noticing.

Some time ago I happened to visit a food product factory being run by a low key Indian business man in Central India. I had heard about his success in producing glucose in large tonnage using many kind of starchy agricultural products as raw materials. This industrial conversion involves many complex chemical processes and was a guarded industrial secret kept by the foreigners some decades ago.

His father who worked for the foreigners in the pre-independence era later ventured in to this field and set up a few factories in India to make this product profitably. His sons later continued with the business. Knowing about this story, I got a technical interest to see the functioning of this industrial unit hidden from normal public gaze somewhere inside the rural area of central India. My interest  perhaps was due to my formal training in chemical engineering. I told my intention to a friend who worked as a superintending engineer of the state electricity board who was officially connected with the work of this factory. My friend in turn informed the owner of this factory who agreed to receive me as a guest to his premises. Incidentally another friend of mine who worked as a leading banker told me about the financial status of this business man. According to him, this industrialist made huge profits from his business and was indeed a billionaire. 

So finally I reached the small town to the pre-designated spot where this business man came personally to receive me. I was surprised when I noticed him coming on a two wheeler to meet me and a four wheeler driven by his driver. The four wheeler was for taking me to his factory. I was taken around the factory by one of his knowledgeable supervisors and I learnt a lot about his factory and the processes. Later I was invited to his house to have lunch with him.

He was indeed a very average looking ordinary Indian and his wife a caring Indian housewife who prepared all the food herself for us. There was nothing there to show off the billions they possessed ! I had a long conversation with this man during the couple of hours I spent with him in his house. He was knowledgeable, successful and enthusiastic to try many innovations in his factory and production lines. He was already making huge profits. Those worked for him in the factory were apparently very satisfied as they were being provided with  permanent employment and the employer apparently was kind and considerate to them.

We talked about the Indian business scenario and many such things related to it. During the talks, he told me about the poor scope of business development, especially in those areas concerning with the processed food industry. The discussion pin pointed to the case of the tomato ketchup industry and about the failure of the case of a ketchup factory set up in Central India by a business group with much fanfare and its eventual failure. His point was that the processed food industry such as this, though had been successful in the western countries, was not so in India.

When he concluded I asked him a different question. I asked him the strength of employees in his factory and the highest pay that he was paying to his highly paid employee. There were nearly 1000 people working for him and the highest paid were only a few and they got something around Rs.10,000/- per month. No doubt, his employees were getting more than what specified by the government as minimum wages and they were a satisfied lot. But he as the owner made a neat profit of over ten thousand times that of the highest paid one got ! I told him that his employees were in fact 1000 consumers who could potentially consume processed food items like glucose and tomato ketchup but unfortunately their incomes are so low that they do not have any extra margin  incomes to indulge in such small luxuries. Whatever money they got is just sufficient to meet their essential needs !

I told him a scenario like this instead. What could have been the situation if he could have distributed, say 25 % of the yearly profits among his employees ? That would be an average Rs.25000 /- per employee per year and that would amount to Rs.25,000,000/- in an year extra in the hands of his employees that would get pumped in to the consuming markets immediately. Perhaps that would turn hands at least 20 times in an year making the total money in the market at a whopping Rs. 500,000,000/-

And that would make the market potential swell so that business men like him would be able to grab it back with their business acumen ! Imagine the government grabbing a neat percentage of that as the taxes !

Imagine the potential when the thousands of businessmen like him in India would do the same ! Then millions of extra house holds would be in a position to buy tomato ketchup, glucose products and such other things which otherwise they would not dare !

It is the simple trick of creating the markets ! It is the trick of mentoring the markets to grow for your own benefits ! It is the trick of inclusive growth !

When I explained this to him, for quite some time he was speechless ! Finally he said: 'Sir, I think you told me some thing that I haven't cared to think so far !'

Though he insisted that we should meet again in future, I could not meet him later. I also do not know whether he made any changes in his business outlooks later !

The point I wanted to make here is simple : Most Indian business men, though shrewd, are misers of the highest order when it comes to sharing of their profits with their employees and shareholders. Even those in the government are also not better when things like giving out come for consideration.

Many of them fear that a proliferation of affluent people in the country would make things worse for them ! Of course it is a baseless fear !

Money accumulation in the hands of a few people are not going to make a prosperous state. Let it happen for motivational purposes. But at the same time, it should not be by depriving the majority. A system where business profits are shared to a large number of people would ensure a society with more people with higher purchasing power. A society where the purchasing power of people are high would grow faster !

It is all about creating more and more economic activities. More economic activities means more employment and more opportunities for innovation and development.

Wake up Indian business men !

There is nothing you would gain by accumulating wealth for yourself ! There is no guarantee that your accumulated wealth would be of any gain to your descendants ! Accumulated wealth in a deprived society is potential danger !

But there is much for you and your descendants to gain if you voluntarily share a portion of your accumulated wealth with the people who associated with you to make your profits !

Every extra rupee that comes into the hands of more and more people is going to make the markets swell and the country richer !

This is just one aspect of spreading prosperity. Being in leadership position of wealth and power, you are also in a position to pull talents to perform much better. That is called mentoring !

For that you should learn the art of developing organizations built up on compassion, empathy and of course character and not organizations built up over inhuman robotic mechanisms !

If you learn these things, there is nothing that can stop this country from becoming another USA or Japan !

If you do not adopt these, your success would be short lived even when you have billions in your accounts !

Should I tell more about the reasons of failure of the Indian businessmen and the Indian society ? You may not publicly accept those failures if you sit there with your muscles tightened !

It is just a food for thought !


[Please also take some time to come back and read my previous  blogs and blogs on other topics as well. You can reach to those by clicking the links in this page. I would be happy if you take some time to express your views using the comments facility down below. Please  use the same comment facility to interact with me for any doubts or clarifications that you might have. Here is the page link which gives the   list of all my blogs  where you can open all my blog titles.]

Doing Business and Managing Wealth-This Is How It Should Be Done !

The other day I happened to read online the first chapter of the Book written by the famous British business magnate, Sir Richard Branson. I also liked the way he chose to title the book as: Screw Business As Usual. I have not seen this man, but I have read about him and the way he made up his business empire, the Virgin Group. It is indeed a commendable thing that a boy with a learning difficulty (known now as dyslexia) overcame that in just about four decades to establish a multinational business empire from scratches by sheer dedication and sincerety to his work.

His book is in reality a kind of his autobiography and he has attempted it in the most down to earth manner which is very touching. In this book, he tells the world how to do business in the most ethical and honest manner and still remain profitable and sustainable. He repeatedly stresses the importance of doing things better, not for the sole purpose of making profits but for the overall benefit of all, the customers, the employees, the shareholders, the suppliers and most importantly to mother earth. And through his many examples, he highlights the fact that doing business this way is not difficult at all or rather it's easy and rewarding in the long run. Another important point he makes is the relevance of empowering the people in decision making and having a business organization that is not top heavy.

Richard Branson tells his contemporaries his idea of doing philanthropy and charity in the non-conventional manner wherein the synergies of the people are channelized to achieve overall good in the society. He explains touchingly how his Virgin Unite was founded for this purpose. On the overall, this modern day business man passionately believes and works for making his business as a force for good.

His book Screw Business As Usual is not yet available in my country-India- to buy. I think I would buy it and read the rest of his passionate business story once I get it. It is another matter that he has pledged all the royalty inocome from this book to charity. I feel that my country men, especially those inclined to do business and those already doing business should think of reading this book. Because, there are many in this country who think that business cannot be done ethically. Business in India, unfortunately, is linked to corruption and the general perception about business men is not good.

The preface and the first chapter of Screw Business As Usual is available free in this blog site of Richard Branson. [You may use the link in this site to read it ]

It is indeed a good thing that the number of business men who want to convert their wealth and money and their business acumen as tools for doing good for the society and the people, are increasing. It is also a good thing that many modern day politicians and governmental authorities are giving all encouragements to entrepreneurs to generate and manage wealth in a sustainable manner, ensuring overall good to the society or the country. There are also innumerable living examples where we see businessess adopting unethical practices perish, however big they might have been.

In this context, I am tempted to tell you what Jesus Christ had advised about the management of material wealth to a wealthy man of his times. This is from my favourite book, the Urantia Book, as, such details are not available other sources such as the Bible.

Jesus had explained ten different forms of material wealth and the best manner in which one should deal or manage it. The essence is managing wealth for the good of all, just as Richard Branson is perhaps doing in our times. [Incidentally, I do not know whether Mr Branson had read the Urantia Book or not!]

I give below those ten cases of managing wealth of various kinds as explained by Jesus Christ as given in the Urantia Book:

1. Managing Inherited Wealth — riches derived from parents and other ancestors.

As steward of inherited wealth you should consider its sources. You are under moral obligation to represent the past generation in the honest transmittal of legitimate wealth to succeeding generations after subtracting a fair toll for the benefit of the present generation. But you are not obligated to perpetuate any dishonesty or injustice involved in the unfair accumulation of wealth by your ancestors. Any portion of your inherited wealth which turns out to have been derived through fraud or unfairness, you may disburse in accordance with your convictions of justice, generosity, and restitution. The remainder of your legitimate inherited wealth you may use in equity and transmit in security as the trustee of one generation for another. Wise discrimination and sound judgment should dictate your decisions regarding the bequest of riches to your successors.

2. Discovered wealth — riches derived from the uncultivated resources of mother earth.

Everyone who enjoys wealth as a result of discovery should remember that one individual can live on earth but a short season and should, therefore, make adequate provision for the sharing of these discoveries in helpful ways by the largest possible number of his fellow men. While the discoverer should not be denied all reward for efforts of discovery, neither should he selfishly presume to lay claim to all of the advantages and blessings to be derived from the uncovering of nature’s hoarded resources.

3. Trade wealth — riches obtained as a fair profit in the exchange and barter of material goods.

As long as men choose to conduct the world’s business by trade and barter, they are entitled to a fair and legitimate profit. Every tradesman deserves wages for his services; the merchant is entitled to his hire. The fairness of trade and the honest treatment accorded one’s fellows in the organized business of the world create many different sorts of profit wealth, and all these sources of wealth must be judged by the highest principles of justice, honesty, and fairness. The honest trader should not hesitate to take the same profit which he would gladly accord his fellow trader in a similar transaction. While this sort of  wealth is not identical with individually earned income when business dealings are conducted on a large scale, at the same time, such honestly accumulated wealth endows its possessor with a considerable equity as regards a voice in its subsequent distribution.

4. Unfair wealth — riches derived from the unfair exploitation or the enslavement of one’s fellows.

No mortal who knows God and seeks to do the divine will can stoop to engage in the oppressions of wealth. No noble man will strive to accumulate riches and amass wealth-power by the enslavement or unfair exploitation of his brothers in the flesh. Riches are a moral curse and a spiritual stigma when they are derived from the sweat of oppressed mortal man. All such wealth should be restored to those who have thus been robbed or to their children and their children’s children. An enduring civilization cannot be built upon the practice of defrauding the laborer of his hire.

5. Interest wealth — income derived from the fair and just earning possibilities of invested capital.

Honest wealth is entitled to interest. As long as men borrow and lend, that which is fair interest may be collected provided the capital lent was legitimate wealth. First cleanse your capital before you lay claim to the interest. Do not become so small and grasping that you would stoop to the practice of usury. Never permit yourself to be so selfish as to employ money-power to gain unfair advantage over your struggling fellows. Yield not to the temptation to take usury from your brother in financial distress.


6. Genius wealth — riches accruing from the rewards of the creative and inventive endowments of the human mind.

 

If you chance to secure wealth by flights of genius, if your riches are derived from the rewards of inventive endowment, do not lay claim to an unfair portion of such rewards. The genius owes something to both his ancestors and his progeny; likewise is he under obligation to the race, nation, and circumstances of his inventive discoveries; he should also remember that it was as man among men that he labored and wrought out his inventions. It would be equally unjust to deprive the genius of all his increment of wealth. And it will ever be impossible for men to establish rules and regulations applicable equally to all these problems of the equitable distribution of wealth. You must first recognize man as your brother, and if you honestly desire to do by him as you would have him do by you, the commonplace dictates of justice, honesty, and fairness will guide you in the just and impartial settlement of every recurring problem of economic rewards and social justice.

7. Accidental wealth— riches derived from the generosity of one’s fellows or taking origin in the circumstances of life.

 

Except for the just and legitimate fees earned in administration, no man should lay personal claim to that wealth which time and chance may cause to fall into his hands. Accidental riches should be regarded somewhat in the light of a trust to be expended for the benefit of one’s social or economic group. The possessors of such wealth should be accorded the major voice in the determination of the wise and effective distribution of such unearned resources. Civilized man will not always look upon all that he controls as his personal and private possession.

8. Stolen wealth — riches secured by unfairness, dishonesty, theft, or fraud.

If any portion of your fortune has been knowingly derived from fraud; if aught of your wealth has been accumulated by dishonest practices or unfair methods; if your riches are the product of unjust dealings with your fellows, make haste to restore all these ill-gotten gains to the rightful owners. Make full amends and thus cleanse your fortune of all dishonest riches.

9. Trust funds — wealth lodged in your hands by your fellows for some specific use, now or in the future.

The trusteeship of the wealth of one person for the benefit of others is a solemn and sacred responsibility. Do not hazard or jeopardize such a trust. Take for yourself of any trust only that which all honest men would allow.

10. Earned wealth — riches derived directly from your own personal labor, the fair and just reward of your own daily efforts of mind and body.

 

That part of your fortune which represents the earnings of your own mental and physical efforts — if your work has been done in fairness and equity — is truly your own. No man can gainsay your right to hold and use such wealth as you may see fit provided your exercise of this right does not work harm upon your fellows.”

My dear reader, I hope you could appreciate the essence of the above. Managing wealth most appropriately for the good of all in our planet is a great responsibility . We need to encourage and honour those who do it responsibly in the manner that God wants them to do it.

Material prosperity by an individual might tarnish his prospects for spiritual growth because of the danger of that person fully pre-occupied with material pursuits and greed for self aggrandizements.

However, it is also important to realize that material prosperity is a necessary thing for civilization to prosper to greater hights where individuals get the opportunity to pursue intellectual and spiritual knowledge and mind capacities. 

The Urantia Book stresses the need for leisure just as it stresses the importance of work. Sincere work, more sincere work and more sincere work and that is very important. 

Materialism and spiritualism have to go hand in hand. A hungry and physically tired person cannot possibly have a mind suited for spiritual advancements in a material world.

And no human being should be deprived of his legitimate share of a decent material living. And that is to be ensured not just for this generation, but for the generations ahead.

And that is a great responsibility. And whoever works to achieve that needs to be admired !

Let me conclude this with another quote from the Urantia Book :

High civilizations are born of the sagacious correlation of material wealth, intellectual greatness, moral worth, social cleverness, and cosmic insight.


[Please also take some time to come back and read my previous  blogs and blogs on other topics as well. You can reach to those by clicking the links in this page. I would be happy if you take some time to express your views using the comments facility down below. Please  use the same comment facility to interact with me for any doubts or clarifications that you might have. Here is the page link which gives the   list of all my blogs  where you can open all my blog titles.]

Treasures,Talents and the PPM Process !

Some years ago I read a story of a South Indian man who owned a small dhaba [a type of cheap motel that is commonly found in India] on a high way connecting Mumbai and Bangalore. 

I do not know the truth in this story. Yet it is believed to be a true story.

One day a fakir came to his dhaba and had some snacks. But he did not have the money to pay the shop owner. Instead, he took out a transparent looking stone from his dirty pyjama pocket  and offered it to the shop owner.

The shop owner understood that this fakir did not have any money.  Anyway he accepted that stone instead. He thought that the fakir might have collected that stone from somewhere while on his routine errands for alms in the country side.

He examined the stone in his hands for some time and decided that it is a good paper weight for his dilapidated cash counter table.

From that day on, the stone was on this dhaba owner's cash table as a raw ornamental show piece and a paper weight. Customers, mainly truck drivers and other high way passengers looked at the odd looking stone curiously, many examining it by taking it in their hands and feeling its smoothness and transparency. 

The stone was on his table always, day and night. He didnot feel it as some thing valuable to be protected or kept in safe custody. 

Then one day, two jewel traders from Mumbai accidentally stopped their Mercedez car in front of his dhaba for some tea. While making their payments for the tea, these gentlemen too examined the stone on the cash table curiously. They asked the shop owner about its source and the man told the story honestly.

Then they asked the shop owner about their liking of the stone and their desire to have it.

The shop owner was too willing to hand over the stone to them for free. But just at that moment the gentlemen offered the shop owner one thousand rupees in return for the stone.

Suddenly the shop owner snatched the stone back from the gentlemen and put it in his drawer and flatly refused to hand it over to them at any cost !

Within seconds, the value less stone became a priceless treasure !

It was later realized that the stone was an uncut diamond of many carats. Eventually it went up and got locked inside a bank locker owned by the shop keeper. It has transformed itself to a treasure worth millions of dollars internationally.

There are certain things that we can learn from this story.

Whether it is a material thing as a diamond stone or an  piece of art or a piece of land or a talent of a person, the value of it depends on how people realize it.

You need some one who realize the value and project that value for the appreciation by others.

Picking, projecting and mentoring (PPM) is an essential process to enhance the value of treasures and talents !

Without PPM,  treasures and talents are worthless !

There could be innumerable treasures and talents in our world. But without some one to do the PPM they  all of them may not get the recognition and the value. 

Those who know the art of PPM are the wealth managers of the world !

Many rich countries are rich because they know the art of PPM better than others !

My own country India is potentially rich with innumerable material treasures and talented people. But unfortunately, there are not many who could do the PPM properly.

India's riches are like the dhaba owner's paper weight stone !

Yet to be picked up, projected and mentored for full realization of value !

Do you agree with me ?

What Makes You Consider (You, Me or They) As the Most Fortunate ?

Long ago, a friend of mine took me to one of his uncles living in a palatial house in the midst of the largest metro city of India.

The man was in his Seventies and was living with his old wife and a host of servants.

His house was a three storeyed one having many rooms and facilities like a star hotel. Guessing by the size of this modern house, I guessed that there would be some swimming pool too some where behind !

He was very courteous and welcomed his not so wealthy nephew and his friend warmly and took us to one of his posh guest entertaining rooms which had a mini bar at one side displaying exotic brands of liquors in various designs of  glass bottles in varying shapes and colours.

While entering the house through the security gate, I had observed a few imported cars in the compound, kept shining by regular care !

He made us sat on the luxurious sofas comfortably and sat by our side. He was making extra efforts to make me feel at ease with his magnanimous gestures.

Yet there was that unmistakable guise of artificiality in all his gestures, which had become part of his personality as a successful business man over the last few decades.

Within minutes an young lady, brought in to a few sparkling glasses in a tray. Obviously tea or coffee were for those lesser mortals. And he was not one of that kind !

I commented and appreciated him for his fortunes and worldly achievements of wealth !

But he seemed not content with his achievements.

He told me that he was a very unlucky man and a dejected father.

Unlucky because another business man of his city of his age, who had nothing a couple of years ago when he had millions, was now marching forward to become one of the richest in the world !

Dejected father because his only daughter who had become a doctor of eminence had rejected to accept the wealth he had amassed in his life and refused to look after his business empire in India. She had migrated to a foreign country !

For nearly two hours he kept telling us many things. Obviously he wanted some one to share his mind which was nearly absent in his palatial mansion like home !

In between he told me that the chair I was sitting was occasionally occupied by the first citizen of the state who was a close soul mate of him.

When I said he was a very fortunate bureaucrat he denied that and told us some real stories to prove the misfortunes of his soul mate.

Obviously this enormous wealth this old man and the enormous political power of his old friend were not making them fortunate in their own assessments during those years when they got the time to do the self assessments !

I was in doubt now. Should I benchmark my self with these so-called fortunate individuals who evaluated themselves as not fortunate !

If I do not, then how can I work out a standard for measuring my 'fortunes' or any one else 'fortunes' ?

I want to ask those who read this, about their views on this.

What makes you feel fortunate in life ?

[I no longer consider benchmarking wealth or power with any one. Nor do I consider possession of these by any one to be regarded as some thing fortunate in life. Instead, wealth and power, in the hands of any one as a great responsibility. A great responsibility to do greater service to others. If this responsibility cannot be taken up, wealth and power is a burden. If wealth and power are used for personal enhancement of pleasures, they would eventually become agents of destruction causing much distress and pains some time later. 

At this point I am compelled to quote a few things from my favorite book- the Urantia Book- which narrates the incident when a rich Roman citizen approached Jesus for his counselling regarding the use of his wealth. For brevity, I am reproducing only some select portions from the original narration:

After many intimate conferences this wealthy citizen asked Jesus what he would do with wealth if he had it, and Jesus answered him:

“I would bestow material wealth for the enhancement of material life, even as I would minister knowledge, wisdom, and spiritual service for the enrichment of the intellectual life, the ennoblement of the social life, and the advancement of the spiritual life. I would administer material wealth as a wise and effective trustee of the resources of one generation for the benefit and ennoblement of the next and succeeding generations.” 

But the rich man was not fully satisfied with Jesus’ answer.

He made bold to ask again:

“But what do you think a man in my position should do with his wealth? Should I keep it, or should I give it away?”

Jesus then decided to advise him some more as the rich man was willing to listen to his advice.

"As steward of inherited wealth you should consider its sources. You are under moral obligation to represent the past generation in the honest transmittal of legitimate wealth to succeeding generations after subtracting a fair toll for the benefit of the present generation. But you are not obligated to perpetuate any dishonesty or injustice involved in the unfair accumulation of wealth by your ancestors. Any portion of your inherited wealth which turns out to have been derived through fraud or unfairness, you may disburse in accordance with your convictions of justice, generosity, and restitution. The remainder of your legitimate inherited wealth you may use in equity and transmit in security as the trustee of one generation for another. Wise discrimination and sound judgment should dictate your decisions regarding the bequest of riches to your successors.

Everyone who enjoys wealth as a result of discovery should remember that one individual can live on earth but a short season and should, therefore, make adequate provision for the sharing of these discoveries in helpful ways by the largest possible number of his fellow men. While the discoverer should not be denied all reward for efforts of discovery, neither should he selfishly presume to lay claim to all of the advantages and blessings to be derived from the uncovering of nature’s hoarded resources.

As long as men choose to conduct the world’s business by trade and barter, they are entitled to a fair and legitimate profit. Every tradesman deserves wages for his services; the merchant is entitled to his hire. The fairness of trade and the honest treatment accorded one’s fellows in the organized business of the world create many different sorts of profit wealth, and all these sources of wealth must be judged by the highest principles of justice, honesty, and fairness. The honest trader should not hesitate to take the same profit which he would gladly accord his fellow trader in a similar transaction. While this sort of wealth is not identical with individually earned income when business dealings are conducted on a large scale, at the same time, such honestly accumulated wealth endows its possessor with a considerable equity as regards a voice in its subsequent distribution.

No mortal who knows God and seeks to do the divine will can stoop to engage in the oppressions of wealth. No noble man will strive to accumulate riches and amass wealth-power by the enslavement or unfair exploitation of his brothers in the flesh. Riches are a moral curse and a spiritual stigma when they are derived from the sweat of oppressed mortal man. All such wealth should be restored to those who have thus been robbed or to their children and their children’s children. An enduring civilization cannot be built upon the practice of defrauding the laborer of his hire.

Honest wealth is entitled to interest. As long as men borrow and lend, that which is fair interest may be collected provided the capital lent was legitimate wealth. First cleanse your capital before you lay claim to the interest. Do not become so small and grasping that you would stoop to the practice of usury. Never permit yourself to be so selfish as to employ money-power to gain unfair advantage over your struggling fellows. Yield not to the temptation to take usury from your brother in financial distress.

If you chance to secure wealth by flights of genius, if your riches are derived from the rewards of inventive endowment, do not lay claim to an unfair portion of such rewards. The genius owes something to both his ancestors and his progeny; likewise is he under obligation to the race, nation, and circumstances of his inventive discoveries; he should also remember that it was as man among men that he labored and wrought out his inventions. It would be equally unjust to deprive the genius of all his increment of wealth. And it will ever be impossible for men to establish rules and regulations applicable equally to all these problems of the equitable distribution of wealth. You must first recognize man as your brother, and if you honestly desire to do by him as you would have him do by you, the commonplace dictates of justice, honesty, and fairness will guide you in the just and impartial settlement of every recurring problem of economic rewards and social justice.

Except for the just and legitimate fees earned in administration, no man should lay personal claim to that wealth which time and chance may cause to fall into his hands. Accidental riches should be regarded somewhat in the light of a trust to be expended for the benefit of one’s social or economic group. The possessors of such wealth should be accorded the major voice in the determination of the wise and effective distribution of such unearned resources. Civilized man will not always look upon all that he controls as his personal and private possession.

 If any portion of your fortune has been knowingly derived from fraud; if aught of your wealth has been accumulated by dishonest practices or unfair methods; if your riches are the product of unjust dealings with your fellows, make haste to restore all these ill-gotten gains to the rightful owners. Make full amends and thus cleanse your fortune of all dishonest riches.

The trusteeship of the wealth of one person for the benefit of others is a solemn and sacred responsibility. Do not hazard or jeopardize such a trust. Take for yourself of any trust only that which all honest men would allow.

That part of your fortune which represents the earnings of your own mental and physical efforts — if your work has been done in fairness and equity — is truly your own. No man can gainsay your right to hold and use such wealth as you may see fit provided your exercise of this right does not work harm upon your fellows.”

If you have read this much, you possibly have understood what I concluded earlier!

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Just How Much Money I need for a Living ?

My country India is a rich nation of poor people. Some of the world's richest individuals are Indians. There could be millions of Indians who have multi-millions at their disposal.

But I do not know just what do they intend to do with this money and wealth that they have inherited or amassed. Money making for some people is some thing similar to an addictive game.

For some others money is some thing they cherish and love for its power to control others.

For some others money is for enjoying life the way the moneyed people are doing. Though they do not know for sure what these 'others' might be doing.

So those who have learnt the tricks of making money keep amassing wealth more and more and do any thing and everything for making more money.

Some years ago, I had an opportunity to meet a big business man who had amassed millions. He had a humble start as a lowly employee of a private firm years ago.

While he was explaining the greatness of the wealth and the company he had established, I just casually asked him whether he was happy with all these wealth he had amassed.

To my utter surprise, I found this old gentleman almost instantaneously burst into tears. Later he peevishly admitted that he was not happy with the money. Apparently there was no reason for him not being happy. But in reality that was not the case. He admitted that the life he had in earlier years as a lowly paid employee was better than the rich life he had created over the years.

But he was not able to explain the reasons.

I have met others also like that. A few others have also admitted that. Ofcourse I do not have access to all the moneyed people and I do not know for sure their mental state.

But if you ask me, I do not wish to be rich man. I do not want to sit in a position of power for the sake of that. Have you heard of the story of the Democlese sword ?

I try to imagine me in a situation like that. No, it is not for me. I do not have the capacity and ability to withstand the power of money and the power for making money.

You don't have to get burnt for yourself for knowing fire.

I see the remnants of richness of those rich and famous people from the past. What happened to them?

In my home state Kerala, recently a great treasure hidden in a temple has been discovered. The gold, gems and the like is valued perhaps in trillions. But no one knows who was that man who amassed these just to be locked for ever like this?

Again what is the use of these even now except to be kept in museums? People can enjoy seeing them later by spending a few rupees entry fee to the museum.

But then you can enjoy much greater treasures with out paying any thing. Look around you and above you to the skies.

Bill Gates and a few like him have realised that.

Money and Power do not really make you happy always. If you happen to be custodians of these it is a great responsibility. A responsibility to such an extent that you have to sacrifice your personal happiness and freedom !

So let those who are able to do that take these on to their heads.

For others like me it is better not to aspire to have it and become irrevocably unhappy later ! 

[Interested in reading some more related blogs ? You may read :

What Makes You Consider (You, Me or They) As the Most Fortunate ?

What is Money ?

Do You Want Power and Money ? It's Easy, Just Bow Before Him !  

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