<p class="bodytext">Is wanting to be rich a crime? And if by dint of hard work, God’s blessings, and serendipity, one does become rich, should that person feel guilty about his richness? And does becoming rich make one happy? Richard Easterlin, the Nobel Prize-winning economist who died last year, was known as ‘the father of happiness economics’.</p>.<p class="bodytext">He introduced what is known as the ‘Easterlin Paradox’, which suggested that individuals tend to judge their well-being in comparison with others, and over time happiness does not necessarily increase with income levels. The scriptures and philosophers had been saying so from time immemorial. The Beatles had said it through melody that ‘money can’t buy me love’ and urged their sweetheart to ‘tell me that you want the things that money just can’t buy’.</p>.<p class="bodytext">Money does not buy one love – or happiness. But unfortunately, as Pope Francis has said in his homilies, ‘It is no longer man who commands, but money, money, cash commands”.</p>.<p class="bodytext">So, what is it about money that drives us to do the things we do? Work ourselves to death, lie and cheat, betray and kill? And is the obsession, or as the Bible says, ‘the love of money the root of all evil?’</p>.<p class="bodytext">There is a subtle distinction here – the love of money is evil, not money. We all need money – for after all, ‘money is what money does’. And it does a lot – it provides us all our basic needs. But the million-dollar question is, how much money does a man need? And having got more than what we can possibly need, what then?</p>.<p class="bodytext">Do we realise that inequality creates societal tensions and that we have a duty to others less fortunate?</p>.<p class="bodytext">Or should the government step in, heeding economist Thomas Piketty’s relentless advice to reduce inequality, and initiate action by increasing taxes? </p>.<p class="bodytext">The Quran goes to the extent of saying that ‘there is a recognised right for the needy and deprived over our wealth’. So do not feel guilty about making money – but give what you don’t need to the needy. As Gandhiji has said, the world has enough for everybody’s needs but not for everyone’s greed and urged that instead of accumulating wealth, we should use it for the benefit of others. And this is the real paradox – that the more you give, the more you will get. As St Francis of Assisi has said, it is in the giving that we receive – and receive we will in more ways than one.</p>
<p class="bodytext">Is wanting to be rich a crime? And if by dint of hard work, God’s blessings, and serendipity, one does become rich, should that person feel guilty about his richness? And does becoming rich make one happy? Richard Easterlin, the Nobel Prize-winning economist who died last year, was known as ‘the father of happiness economics’.</p>.<p class="bodytext">He introduced what is known as the ‘Easterlin Paradox’, which suggested that individuals tend to judge their well-being in comparison with others, and over time happiness does not necessarily increase with income levels. The scriptures and philosophers had been saying so from time immemorial. The Beatles had said it through melody that ‘money can’t buy me love’ and urged their sweetheart to ‘tell me that you want the things that money just can’t buy’.</p>.<p class="bodytext">Money does not buy one love – or happiness. But unfortunately, as Pope Francis has said in his homilies, ‘It is no longer man who commands, but money, money, cash commands”.</p>.<p class="bodytext">So, what is it about money that drives us to do the things we do? Work ourselves to death, lie and cheat, betray and kill? And is the obsession, or as the Bible says, ‘the love of money the root of all evil?’</p>.<p class="bodytext">There is a subtle distinction here – the love of money is evil, not money. We all need money – for after all, ‘money is what money does’. And it does a lot – it provides us all our basic needs. But the million-dollar question is, how much money does a man need? And having got more than what we can possibly need, what then?</p>.<p class="bodytext">Do we realise that inequality creates societal tensions and that we have a duty to others less fortunate?</p>.<p class="bodytext">Or should the government step in, heeding economist Thomas Piketty’s relentless advice to reduce inequality, and initiate action by increasing taxes? </p>.<p class="bodytext">The Quran goes to the extent of saying that ‘there is a recognised right for the needy and deprived over our wealth’. So do not feel guilty about making money – but give what you don’t need to the needy. As Gandhiji has said, the world has enough for everybody’s needs but not for everyone’s greed and urged that instead of accumulating wealth, we should use it for the benefit of others. And this is the real paradox – that the more you give, the more you will get. As St Francis of Assisi has said, it is in the giving that we receive – and receive we will in more ways than one.</p>