Price of Greed

India, as a country, was taken over by Britain not just because of the power of the cannon but also by what is known as the "Divide and Rule Policy" of the British. This was nothing but taking advantage of the greed of certain individuals.  The price we paid was huge.  Various accounts are there of how much Robert Clive took back from India to UK in the 1760s. One estimate puts it at Pound Sterling 200 million and he took back personal wealth of Pound Sterling 20 million himself. Not sure if these numbers are true, but we did indeed pay a huge price for the greed of few of us.

The Global Financial Crisis of 2008 was a result of greed perpetrated by various financial institutions and the way bonuses were paid.  The Satyam Computers fraud is another classic example of greed.  There are numerous examples of how greed has destroyed companies, individuals, governments and countries.  Yet, we just do not seem to learn.

Does this mean that most of us are not greedy and only few are? Absolutely not!!! Everyone is greedy... what differs is the extent.  Some take it too far, while most are greedy in moderation.

In the corporate world, the bonus system based on performance "at any cost" has resulted in greed going unchecked.  Should pay be based on performance? Why not? The person working harder and putting in more effort definitely deserves to take home more.  But then, what is enough?  This is the imponderable question.  Very difficult to answer and lies in the judgement of each and every individual.  While a hundred thousand rupees as bonus could seem like greed to a poor farmer who is struggling to pay off a debt of rupees twenty thousand, for the typical corporate executive, this could be peanuts.

So, who is to judge? I believe, no one. Let each company take its call.  However, when it impacts the general public, like what the Global Financial Crisis did, each of those companies should pay for the loss impact or hand over the management to the general public.

I have seen societies live happier with lesser money than what we earn today.  Again, happiness is a state of mind and differs from individual to individual.  Our society in India is paying a very high price for greed (in the form of corruption)...poor roads, power cuts, limited water supply, traffic congestion, adulterated food, poor quality of products/services, poor quality medicines...you name it, greed has a role to play for most of the problems that we experience in our society.

One way to reduce the impact of greed in each of us is to practice "giving" or charity.  If each of us can support a cause that leads to more inclusive growth, our sense of greed starts coming down.  The smile on the face of a poor child when he is able to afford a better school or a better shirt, is definitely worth more than a second penthouse.  This sense of sharing and giving, if inculcated in our children, will make our world a better place to live in.