CONCEPT OF WEALTH AND

PROSPERITY
Essay on “Your idea of Wealth and Prosperity”

1st INTERNAL ASSIGNMENT

SUBMITTED BY:
MRINAL BHATNAGAR
DIV. ‘A’
Sem3, BALLB
16010125056
IDEA OF WEALTH AND PROSPERITY

The idea wealth and prosperity is constantly evolving. The Merriam-Webster Dictionary
defines “Wealth” as an abundance of valuable material possessions or resources 1 and
“Prosperity” as the condition of being successful or thriving; especially economic well-
being.2

The terms wealth and prosperity have been enshrined in religious scriptures and economic
philosophies all over the world. Different philosophers have interpreted the importance and
usage of wealth and prosperity differently.

Buddha taught us that money is a blessing and that, one effect of an ethical way of life would
be material prosperity.

Simply put, if we are living in poverty ourselves it is difficult to help others:

If every day is a battle for survival, how can we stop to help others survive? If we can’t think
beyond the next mortgage payment and the kid’s university tuition, how are we to focus on
compassionate giving? How much more help is it to have enough wealth to allow us to be
unselfish to as many sentient beings as possible?

Instead of thinking of wealth as selfish (or feeling guilt about its accumulation), we should
instead consider the Buddhist concept that wealth can be a virtuous means to help others.
Practicing generosity creates positive karma. Money, at the origin, is just a means to trade.
Moreover, it's a form of blessing if considered as result of good deeds.
However, getting obsessed and attached to owning money causes suffering and stops one
from being totally liberated. So, money or material prosperity itself is harmless and neutral.3

According to Chanakya, as laid out in Arthashastra, wealth is at root of dharma

(Dutifulness). In order to govern the state well and to keep his people happy and contented,
wealth is essential; welfare of the people is not possible without money. In order to promote
prosperity of the people and stability of the state, it is essential that the state is running
efficiently. It is necessary for a good and successful ruler to keep his desires under control. If
he succeeds in doing so. He cannot only get his wishes fulfilled but also gain prosperity. A

1
“Wealth”, Merriam-Webster.com. Merriam-Webster, n .d. Web. 1 Aug. 2017.
2
"Prosperity." Merriam-Webster.com. Merriam-Webster, n.d. Web. 1 Aug. 2017.
3
http://buddhaweekly.com/buddha-protect-wealth-associate-virtuous-friends-relate-spouse-employer-children-
guidance-lay-practitioners-sigalovada-sutta/
prosperous ruler will govern the state well, take up welfare activities for the people and
promote commercial activities with the result that soon the people also become prosperous.4

In Hinduism wealth is divine. Lakshmi, the goddess of wealth and abundance is revered by
all. In creation, wealth is an aspect of nature. Wealth becomes an evil only when it is earned
by ignoring dharma and used for purposes other than upholding it.5

In a nutshell, the ancient philosophers are trying to convey that those who seek prosperity for
themselves alone are in the end bound to become poor, or to suffer from mental disharmony;
but those who consider the whole world as their home, and who really care and work for
group or world prosperity, find the individual prosperity that is legitimately theirs.

It was not just in the historical times that plentiful literature was based on the concept of
wealth and prosperity. It is a common sight to find bestseller novels in the ‘how to be rich’
genre even today.

There is no doubt that man’s primary motive is survival and for surviving one needs to have
the means and resources.

There’s no denying to the fact that humans chase materialistic happiness; setting their
parameters in terms of acquired wealth. Lack of wealth often causes disruption in harmonious
life, leaving us to face difficulties.

As we get older, the manipulation becomes more damaging, life choices are made in order to
fulfil an implanted image of what we think we should be. We work unfulfilling jobs to pay
for the products we think we must own, or worse, go into debt and spend a life time paying it
off. The cycle is vicious. As the wealth divide gets wider, those less fortunate want what the
rich have. And in today’s society, they can, as long as they go into debt. And that is the point,
feel inadequate because you don’t make enough money, buy stuff you don’t need to compete
with people you don’t actually know, go into debt then work all the hours to pay it off.6

The desire to become rich is seen by some psychologists as a form of mental illness. Oliver
James wrote a brilliant book Affluenza about the corrosive effect of capitalism on people’s
mental health. The desire to be obscenely wealthy, he argues, is a sickness caused by
advertising and sprawling wealth inequality. And it has spread around the Western world like

4
Rangarajan, L.N. (1992), Kautilya: The Arthashastra, Penguin Classics
5
Jayaram V, Money and wealth in Hinduism, http://www.hinduwebsite.com/hinduism/essays/wealth.asp
6
Ben Cohen, Why Wanting to Be Rich Is a Form of Mental Illness, 12 June 2012
a virus. And even if you do happen to be wealthy, it turns out that isn’t actually all that great
either. The effects of rampant materialism are, according to research, pretty damaging to the
human psyche. Wealthier countries recorded higher levels of mental illness, while citizens in
poorer countries were happier and better adjusted. Despite being told that being rich should
make you happy, it in fact does the opposite. The richer we are it seems, the sadder we
become.7

But the solution to this problem seems almost impossible to achieve. However, there are
authors like Rhonda Byrne who through their works, like The Secret have envisaged the role
of positive thinking in acquiring wealth and prosperity, both material and spiritual. She says,
give money in order to get money. By doing this you are telling the universe that you have
plenty of money in your pocket. Therefore, you will attract more money. Be positive and
proactive. 8

Nonetheless, many writers have criticised this point of view for being too vague and
unrealistically optimistic. As for instance, the believers of Aristotle’s theory would argue that
purposeful action contrasts with aimless or thoughtless action, which is action with no end in
view. For Aristotle the final end of human life is to flourish, to live well, to have a good life.

All acts should aim at this end. Of course in order to live at all we need food, clothing, and
shelter, but living is itself the means to the end of living well. And what is living well a
means to? Aristotle says that having a good life is the final end for humans; it is not a means
to anything else. Anything we call good we do so because it is the means to living or living
well. Aristotle thinks this is obvious because no one wants to live poorly. 9

Different people have different ideas about what a good life is. For some it may consist of
accumulating wealth; for others it is having power or being famous or experiencing pleasure.

Accordingly, definition of prosperity can vary from being financially rich to having other
virtues such as richness of character or wealth of knowledge. True wealth needs a healthy
mind and spirit to fully manifest. A mind that is fed and challenged is a mind well used.

In a practical world, it is not possible to be good to be everyone. One needs to be self

-sufficient first and then look out for the welfare of others. This view at first may appear to be

7
Ibid 6
8
Rhonda Byrne, The Secret, Atria Books, 26 November 2006
9
Aristotle, Nicomachean Ethics, Morality and the Good Life: An Introduction to Ethics through Classical Sources
(5th Ed.) Ed. Robert C. Solomon, Clancy Martin, Wayne Vaught, (McGraw-Hill: New York, 2009) p. 109
selfish and apathetical but there have been instances in the past which justify this argument,
for example-

Mahatma Gandhi is considered to be such a good man in the eyes of the people of India that
Indians call him “Father of the Nation”. However, he was not good in the eyes of his own
children because they suffered immensely due to his ideas. They did not get proper education,
nor could they inherit the wealth or legacy of Mahatma Gandhi. The children of other leaders
of his time, who were actually much lower in the stature, did good for their family as those
leaders were more practical. 10

People soon realize that they can’t be good for everyone all the time. Then they stop chasing
being good and focus on making money.

However, acquiring wealth does not necessarily exclude acquiring moral or spiritual
prosperity. One can either acquire wealth without moral considerations and not be able to
hold on to it for long or else keep in mind the obligations towards society and in the process
acquire wealth with the help of the society.

It is an established truth that a person with a good moral character is remembered and
respected by all. Being a firm believer in the theory of karma myself, I feel that the way to
get is only by giving (as discussed earlier through the Buddhist aspect of wealth and
prosperity). Even though this might seem idealistic to some degree, I have experienced the
theory of karma getting actualised in reality. There is no denial in the fact that acquiring
sufficient wealth is the most essential goal in one’s life, there are other factors which
determine how his/her life takes shape.

Not long ago, my mother had contacted Dengue fever which soon developed into a rare
brain-haemorrhagic fever. Her health worsened by each passing day and she was admitted to
the critical care unit of a hospital. The hospital had highly skilled doctors and technologically
advanced equipment. It was therefore implied that her treatment would cost my father a
fortune and it did. My mother’s life was saved because my father could afford to save it. A
cheaper hospital would have probably not been able to do that.

The entire incident changed the way I looked at life in general. I finally realised the
importance of accumulation of wealth.

10
Awadesh Singh, https://www.quora.com/Why is everyone obsessed with getting rich, rather than say being
good?, 24 April 2016
This made me contemplate lot of questions, to some, I was able to find out the answers.

My father embodies many characteristics of an altruist. I have grown up seeing him going an
extra mile to help others. He offers weekly services in a temple, makes yearly donations to an
orphanage, volunteers at a suicide NGO every Sunday, donates blood almost every year,
feeds cattle every morning and so on and so forth. All this does not mean he is not committed
towards his business or he does not realise his duties towards his family. We live in a joint
family and he treats my cousins as his own children, also by financially helping my uncle to
raise them. When my mother was admitted in the hospital we used to have at least ten new
visitors each day who would come and show their support to my father. This re-affirmed my
faith in karma as my father was always there whenever people needed him.

By describing this incident which is so close to my heart, I want to point out that nothing is
black or white; we can’t constrict our discussion on wealth and prosperity only to
highlighting the extremes. Wealth is necessary because without it my mother would not have
been saved; wealth stays with only those who deserve it and know how to utilise it. However,
the utility of wealth is subjective in nature.

Good character is supplementary to acquiring wealth and prosperity, they are not independent
of each other. More importantly, helping others in any which way possible pays back,
nothing in the universe goes unnoticed.

Having a prosperous life is more to do with the inculcation of the idea of prosperity from
within, treating it as a frame of mind rather than acquiring material possessions.

My current state of mind is content and ambitious. I have completed one year in law school
away from home and family. It was difficult to settle in the new environment initially but
eventually I have started to like the city and the college alike. I have made some new friends
and started to enjoy law as a subject. But everything is not so perfect and happening as it may
appear.

Now that the second year of college has already begun, I plan not to repeat the mistakes I had
committed in the first year. I lost a couple of friends because of my own expectations to
which they failed to stand up to. This year, I have planned to expect less from people and
more from myself in order to be self-content and have a peaceful state of mind. For realising
this goal, I wish to engage more in improving my academics as well as my mental wellbeing.
My CGPA also reduced in the 2nd semester from what it was in the 1 st semester. Therefore,
my short-term plans are to be detached to some degree from the people around me and
focussing on improving not only my grades but also my knowledge by reading more novels
in order to enhance my pool of mental wealth.

Secondly, I plan to eat healthy and exercise so that my studies and continuous pressure of
completing many assignments simultaneously, not take a toll on my physical wellbeing.
Thirdly, I have also joined a student reach out initiative which provides for education to
underprivileged children. Thus, in this way I would be able to give back little to the society
on my own. My other short term goals, include, spending less time on the internet, calling my
family more often, reading the newspaper daily, going for walks, not spending money
unnecessarily, etc, in order to live happily and prepare myself to set my long term goals and
be able to achieve them.

We don’t know what life has in store for us. All we can do is prepare ourselves for as many
possible scenarios as we can. Moreover, I believe man writes his own destiny, so what we
become and what we do in life is a result of the opportunities we take and the path we choose
to follow. For this purpose, it is necessary to lay down long-term goals to help us realize our
ideas about wealth and the means to acquire it.

I always wanted to study law and explore the law field as a profession. Joining a law school
has helped me re-enforce my decision to become a lawyer. Law is one profession, just like
that of a doctor, which lies on the foundation of trust. It is law because of which people have
some faith in the present democratic system. I am more inclined towards litigation than
corporate law. My chief aim to pursue law as a career is to help people get justice, especially
the people who are greatly deprived of it; as their faith in law is the only thing that keeps
them stable. However, I am aware of the ground realities; and if I want to acquire sufficient
amount of material wealth to help me sustain in the present age, I would probably have to
take the route taken by most, that is, joining a corporate law firm. In our country, to excel in
litigation is not an easy task, politics and hierarchy determines one’s position in the enormous
legal system.

This is a conflict which arises in almost everybody’s life, irrespective of a lawyer. The easier
path has lot of benefits; now that I know the value of money and how it helped to save my
mother’s life, I would not want to take a risk. But if we look at a larger picture, one can
choose to work hard, along with working smart, and achieve whatever one desires. There
have been examples of plenty of lawyers who have made their mark in litigation by fighting
for the rights of the people. I am not of the opinion that working for corporate biggies does
not constitute as fighting for the rights of people but this is not the purpose for which I joined
a law school in the first place. Someone has to take the road least taken.

In my chosen field to practice law, I want to prosper materially as well as intellectually. I

plan to work so hard that I acquire sufficient wealth to help my family fight any future
disease or sickness or any other unforeseen incident, triumphantly. Similarly, I would want to
judiciously use my knowledge of law to help people who really need it. As pointed out
earlier, I would like to imbibe the virtues of my father and continue the legacy he has started.
In the pursuit for better things in life one must not forget to embrace what one already has.
Happiness to me resides in simplest of things, from eating an ice cream to watching little
children play to resting my head on my mother’s lap to reading a book, and the list is endless.
Enjoying these moments truly, having my family and friends by my side and looking forward
to help enrich the mankind in any which way possible, would constitute for a wealthy and
prosperous living.
Bibliography

1. “Wealth”, Merriam-Webster.com. Merriam-Webster, n .d. Web. 1 Aug. 2017.

2. "Prosperity." Merriam-Webster.com. Merriam-Webster, n.d. Web. 1 Aug. 2017.
3. http://buddhaweekly.com/buddha-protect-wealth-associate-virtuous-friends-relate-
spouse-employer-children-guidance-lay-practitioners-sigalovada-sutta/
4. Rangarajan, L.N. (1992), Kautilya: The Arthashastra, Penguin Classics
5. Jayaram V, Money and wealth in Hinduism,
http://www.hinduwebsite.com/hinduism/essays/wealth.asp
6. Ben Cohen, Why Wanting to Be Rich Is a Form of Mental Illness, 12 June 2012
7. Rhonda Byrne, The Secret, Atria Books, 26 November 2006
8. Aristotle, Nicomachean Ethics, Morality and the Good Life: An Introduction to Ethics
through Classical Sources (5th Ed.) Ed. Robert C. Solomon, Clancy Martin, Wayne
Vaught, (McGraw-Hill: New York, 2009)
9. Robert Kiyosaki, Sharon L. Lechter, Rich Dad Poor Dad, Warner Books Ed, 01 April
2000.
10. Hermann Hesse, Siddartha, Rupa Publications India Pvt. Ltd., 15th Edition, 2015.