To remove economic discontent Gandhiji neither supported western economy nor did he support eastern economy. As western economy, being based on capitalism, gives birth to exploitation, competition and struggle, while eastern economy encourages the decentralization. To remove this economic inequality and dissatisfaction, Gandhiji founded the principle of trusteeship. According to this principle, a capitalist can use his own property as per his requirements and will become a trustee of his remaining property. He can use this property in Public welfare.
Main elements of trusteeship principle :
1. It is a means to convert current capitalist system into egalitarian society.
2. It provides an opportunity to improve to the current capitalists or the owners of wealth to reform themselves.
3. If believes in the change of mental tendency. It wants to liberate persons from the greed of money.
4. This theory opposes the right to own private property and accepts only appropriate needs of an individual.
5. If necessary, it favors to control property through state laws.
6. In this, neither the property should be used for self interest, nor can it be used against the interests of the society.
7. Instead of the ownership of goods or money, it is associated with social welfare. 8. Minimum and maximum limits of income should be fixed. Time and again, these are liable to change whose objective is to end disparities.
9. It will not determine the production on the basis of benefit, but it will be determined by social necessities.
Thus, it is clear that through trusteeship principles, Gandhiji wanted to bring economic equality in the society.
