Trusteeship Business and the economics of well-being Rajni Bakshi Gandhi Peace Fellow Democracy and Nation-Building Studies Gateway House Research Paper No. 10 | March 2016 Published by Gateway House: Indian Council on Global Relations 3rd floor, Cecil Court, M.K.Bhushan Marg, Next to Regal Cinema, Colaba, Mumbai 400 039 T: +91 22 22023371 E:
[email protected] W: www.gatewayhouse.in Gateway House: Indian Council on Global Relations is a foreign policy think tank in Mumbai, India, established to engage India’s leading corporations and individuals in debate and scholarship on India’s foreign policy and the nation’s role in global affairs. Gateway House is independent, non-partisan and membership- based. Editor: Sharmila Joshi Cover design: Vinay Jain Layout: Virpratap Vikram Singh All rights reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the publisher. © Copyright 2016, Gateway House: Indian Council on Global Relations. Table of Contents About the Author 1 Acknowledgement 3 Summary 5 Introduction 7 1. Why bother about trusteeship? 7 2. Pressure for change 9 3. In search of Economic Democracy 11 Section One: The historical basis of trusteeship: Gandhi and other global legacies 12 1.1 What is trusteeship? 12 1.2 What Gandhi asked of the rich 14 1.3 Why did Gandhi think trusteeship could work? 16 Section Two: Philanthropy 22 2.1 Why give away