GANDHIAN PHILOSOPHY OF WEALTH MANAGEMENT.pptx

GANDHIAN PHILOSOPHY OF WEALTH MANAGEMENT.pptx

1. GANDHIAN PHILOSOPHY OF WEALTH MANAGEMENT

2. INTRODUCTION M.K Gandhi took the Budha’s ethics of Ahimsa and applied to social, economic and political problems. His ethics in based on spiritual foundation, he treats man as a spiritual being He is an ideal of peace, service, love, self sacrifice

3. GANDHIAN PHILOSOPHY OF WEALTH MANAGEMENT Gandhian Philosophy of wealth management is based on the ‘Servodaya’ principles of Truth, Non-Violence and Trusteeship; wherein class harmony between labour and management reigns supreme. According to Gandhiji , managers and proprietors of business firms are only the trustees of wealth of society.

4. GANDHIAN PHILOSOPHY OF WEALTH MANAGEMENT The idea of trusteeship advocated by Gandhiji , is based on and has its origin in the Bhagaved Gita -in the principles of ‘ aparigraha ’ (non-possession) and ‘ Sambhawa ’ ( equalism ) which were ardently followed by Mahatma Gandhi.

5. BASIS OF GANDHIAN ETHICS Truth & social service Ahimsa (Non-violence) Satyagrahia Non- violent , Non-cooperation with evil Non-thieving or non-possession Trusteeship of wealth Labor is capital sarvodaya

6. GANDHIAN PHILOSOPHY OF TRUSTEESHIP

7. WHO IS A TRUSTEE An individual or organization which holds or manages and invests assets for the benefit of another.  A member of a board elected or appointed to direct the funds and policy of an institution.

8. M. K. Gandhi Said.. Supposing I have come by a fair amount of wealth – either by way of legacy, or by means of trade and industry – I must know that all that wealth does not belong to me; what belongs to me is the right to an honorable livelihood, no better than that enjoyed by millions of others. The rest of my wealth belongs to the community and must be used for the welfare of the community.

9. GANDHIAN PHILOSOPHY OF TRUSTEESHIP Gandhiji's philosophy of trusteeship was a significant concept with a potential to change the economic and social order An original thinker as he was, Gandhiji was probably the first to see the inherent contradiction of both capitalism and communism He always aims at bringing economic equality through non-violent social change

10. GANDHIAN PHILOSOPHY OF TRUSTEESHIP He believed that after meeting the reasonable needs, if someone holds surplus amount should be in trust of society One should not always think of personal interest rather you should use the wealth for the benefit of the society. The doctrine of trusteeship is based on the fact that everything is from God and belongs to god.

11. NEED OF TRUSTEESHIP To bring equality between the people It’s a non-violent way of resolving the socio-economic problems Dominated by moral values To keep the humanity in mind It’s a ideal contribution of economic and moral values

12. GANDHI’S DOCTRINE OF TRUSTEESHIP Trusteeship provides a means of transforming the present capitalism to socialism into an egalitarian one, it gives no preference to capitalism but gives the present owing class of reforming itself It does not recognize any right of private ownership of property except in as much it may be permitted by society for its own welfare

13. GANDHI’S DOCTRINE OF TRUSTEESHIP It does not exclude legislative regulation of the ownership and use of wealth Thus, under state regulated trusteeship, an individual will not be free to hold or use his wealth for selfish satisfaction or in disregard of the in of society. Just as it is proposed to fix a decent minimum living wage, even so a limit should fixed for the maximum income that could be allowed to any person in the be society

14. APPLICABILITY & BENEFITS Applies to both tangible and intangible property Not on business or industry but on human also No right to destroy the property deliberately Promotes relationship Mutual well being Promotes social change

15. SEVEN DEADLY SINS 1. Politics Without Principle If there is no principle, there is no true north, nothing you can depend upon. The focus on the personality ethic is the instant creation of an image that sells well in the social and economic marketplace.

16. SEVEN DEADLY SINS 2. Wealth Without Work This refers to the practice of getting something for nothing - manipulating markets and assets so you don't have to work or produce added value, just manipulate people and things.

17. SEVEN DEADLY SINS 3. Pleasure Without Conscience The chief query of the immature, greedy, selfish. Lately many people seem to want these pleasures without conscience or sense of responsibility, even abandoning or utterly neglecting spouses and children in the name of doing their thing.

18. SEVEN DEADLY SINS 4. Knowledge without Character As dangerous as a little knowledge is, even more dangerous is much knowledge without a strong, principled character.

19. SEVEN DEADLY SINS 5. Commerce (Business) Without Morality (Ethics) If we ignore the moral foundation and allow economic systems to operate without moral foundation and without continued education, we will soon create an amoral, if not immoral, society and business. Economic and political systems are ultimately based on a moral foundation.

20. SEVEN DEADLY SINS 6. Science Without Humanity If science becomes all technique and technology, it quickly degenerates into man against humanity. Technologies come from the paradigms of science. And if there's very little understanding of the higher human purposes that the technology is striving to serve, we becomes victims of our own technocracy.

21. SEVEN DEADLY SINS 7. Religion/Worship Without Sacrifice There is no real walking with people or going the second mile or trying to deal with our social problems that may eventually undo our economic system.