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1. Trusteeship: Business and the economics of well- being

Author:
Rajni Bakshi
Publication Date:
09-2016
Content Type:
Research Paper
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
Economic reforms in India have often arrayed proponents of market-led growth against human rights advocates anxious that markets give primacy to profits over people. A quarter century after the reform process was initiated in the early 1990s, this conflict has sharpened. At the same time, this narrative of polarised positions seems increasingly worn out. Business and society at large have always been intricately co-dependent. This interface is now taking many new forms across the world, with some entrepreneurs seeing profit as a means, rather than the end goal of business. This paper explores these questions. It reviews if and how trusteeship can be a lodestar for globally navigating businesses and public policies through a period of technology- driven disruptions and the uncertainties unleashed by climate change. Trusteeship is a frame of reference on which a wide variety of business models can be based. The emphasis is on transforming rather than demolishing the capitalist system. In essence, Gandhian trusteeship reposes faith in the capacity of individuals and entire classes to re-form themselves, on the premise that the capacity to seek redemption is intrinsic to human nature. There was logic rather than dreamy wishful thinking behind these claims. Gandhi believed that it is a fearful man who tyrannises others or attempts to accumulate wealth by force or by unfair means. By contrast, a voluntary adoption of trusteeship means respect for human dignity, fostering relations based on truth and shared goals. Thus, Gandhi urged labourers to approach employers from a position of strength and self-respect since labour is as vital a component of production as capital, land, and technology. In a time mired by corruption and competitive greed, trusteeship may at first glance seem like a pipe-dream. Can this closer examination perhaps give you cause to rethink?
Topic:
Development, Economics, Reform, and Employment
Political Geography:
India

2. Degrowth: Consume less. Share more.

Author:
Rajni Bakshi
Publication Date:
07-2016
Content Type:
Research Paper
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
Indian business—perhaps even society at large—is currently buoyed by the expectation that we are entering a period of sustained economic growth that might finally make poverty a problem of the past. In this context, it might seem counter-intuitive to draw attention to the possibility of a decelerating global economy and projections about reversals in human well-being. However, there is mounting evidence to show that the prevailing models of economic growth cannot continue unchecked to the end of the 21st century. Apart from the truism that infinite growth is not possible on a finite planet, the accelerating impacts of climate change are set to play havoc with a reliable supply of many natural resources—including food. Unless growth is redefined, degrowth will be forced upon the global economy, as a consequence of chaotic instability in eco-systems and due to the brittleness of political, social, and economic systems
Topic:
Global Recession, Reconstruction, Reform, and Global Political Economy
Political Geography:
India and Global Focus