How much is enough?

• "How much is enough?" is a good question. Anyone involved in capitalism and markets will find this question uncomfortable. It is a qualitative question and is about how money makes us feel about spending, saving and giving and values we stand for.
• Enough is the quality of having everything you need and want but nothing in excess and nothing that burdens you. 
• Income to meet the expenses of frugal living, a home, a car, insurance for health & life, provision for children education and their well being, provision for health shocks, leisure, passions and retirement - is what is enough. 
• The best thing one can do to children is to give roots & wings. And the worst thing is to give them a mountain of wealth under which they will get buried never knowing what they are and what they wanted to be in life.
• Our culture is geared towards endless consumption and upgrades. Reasonable wealth is comfort. Meaningful testament to a life is well spent.
• While personal debt is bad, public debt is necessary not only for prosperity but to avoid economic disasters. A good economy must serve the needs of many instead of the few.
• A great economist told students that the capitalist system was capable of delivering such a sustained and steady increase in output that workers would eventually have all the material goods they could possibly want. They would need to toil for only 15 hours a week and could then spend the rest of the time enjoying themselves. Capitalism was a means, a rather distasteful means, to this end.
• Capitalist economies are efficient, but workers were unsatiated by any material possessions, and devote any of their time to their pleasures. The new servant class which emerged and served the needs of neo rich were paid little more than subsistence wages.
• Modern world is characterised by insatiability, an inability to say enough is enough, and the desire for more and more money. Economics, a narrowly focused discipline in which there is no distinction between wants and needs, has driven to the end of a cul-de-sac. 
• The short-term need to get the economy moving again should not deflect policy-makers from reforms that will lay the foundations of a saner, more stable world.
• Progress should be measured not by the traditional yardsticks of growth or per capita incomes but by the seven elements of the good life: health; security; respect; personality; harmony with nature; friendship; and leisure. 
• Job security is much weaker and the pressure on the environment has increased.
• There is more to life than gross domestic product. Growth at all costs has become enshrined as the goal of economic policy. We live in a country divided into workaholics who have more money than they know what to do with and millions of unemployed and under-employed citizens struggling to make ends meet on the proceeds of work in the informal economy.
• In the middle, there are the debt slaves worried about the mortgage and often one pay packet away from penury. We ought to be able to do better than this. They favour a society with liberalism, social democracy and the good society is within reach.

A little house well filled, little wife well willed and 
little land well tilled are the greatest riches ... Shakespeare 

Money has no utility to me beyond a certain point ... Bill Gates

The fortunate man is he who, born poor, or nobody, works gradually up to 
wealth and consideration, and, having got them, dies before he finds 
they were not worth so much trouble ... Charles Reade

Earnings beyond certain point usually result in gaudy life style - excessive spending, amassing wealth, paying excess amounts for services without much substance. These activities contributes to increase in consumption and wastage, emissions and abuse of nature. Every luxury looses its vigor after 20 uses. You begin to own many things and eventually things will own you. Display of wealth or possessions is not only vulgar but also reflects low self esteem, make others feel jealous, lose real friends and win false acquaintances. They become more and more insensitive and end up knowing the price of everything and the value of nothing. 

Warren Buffet believes that setting up his heirs with a lifetime supply of food stamps just because they came out of the right womb can be harmful for them and is an antisocial act. The perfect amount to leave children is "enough money so that they would feel they could do anything, but not so much that they could do nothing." Bill and Melinda Gates are giving a $10 million only for each of their three children with a remark "It will mean they have to find their own way in life". 

Naveen Patnaik, Mr.Clean

Naveen Patnaik,
Chief Minister of Odisha since 2000

• Naveen Patnaik was born on Oct 16, 1946 in Cuttack from Biju Patnaik, former Chief Minister of Odisha. He was classmate of Sanjay Gandhi at Doon School, Dehradun. He lived in USA until 1997, away from politics. Patnaik's interest in art and culture drew him into the charmed circle of the rich and famous including Jacqueline Kennedy Onasis.
• When his father passed away in 1997, the mantle of continuing his political legacy fell on Naveen Patnaik, then 50 years old. He formed the BJD and was elected an MP from his father's constituency in Aska. He said, "I had inherited my father's responsibilities, not privileges. One of the members of his family had to continue his legacy of social responsibility." 
• In the 2000 Odisha assembly elections, the BJD trounced the ruling Congress and won 68 of the 147 seats, just five short of the majority. Patnaik resigned from the Union Ministry, formed an alliance with the BJP in Odisha and took over as Chief Minister. 
• He moved into Naveen Niwas that his father built near the Odisha airport occupying the servant quarters instead of the main building which he converted into his residential office. He is a bachelor. He lives life of austerity wearing only simple white kurta-pyjamas.
• He decided to break the alliance with the BJP in 2009, over Kandhamal communal riots 2008. The BJD contested the elections without any seat sharing arrangements and won a clear majority.
• Now into his fourth consecutive term, Naveen Patnaik has completed 17 years in the saddle and has joined the list of the longest serving chief ministers of the country (The late Jyoti Basu holds the record of being 23 years at the helm in West Bengal).
• In 2014, at the height of the Narendra Modi wave, the BJD won a whopping 117 of the 147 Assembly seats and made a clean sweep of the Lok Sabha seats winning 20 of the 21 seats.
• He is the only chief minister of India who does not speak the regional language of the state. However, he possesses great mastery over the Hindi, French and English. At rallies, he delivers Odia speeches written in Roman alphabet.
• When Patnaik took over in 2000, Odisha had the country's highest poverty level at 59%. By 2012, the poverty level was down to almost half - 32.5% - the highest reduction in poverty among all Indian states during that period.  Under him Odisha's GDP grew an average of 6.66% annually. Per capita income has grown six fold and touched Rs 66,890 last year. Odisha imported rice from Punjab and Haryana in 2000. It now produces surplus rice. Its anti-poverty programmes and welfare schemes for women have been emulated by the rest of India.
• He uses a compact no frills Suzuki SX4 bought by the state government six years ago. He refused to have his office chair refurbished though the leather seat is fraying at the edges. Nor has he changed the floor tiling saying the money is better spent on development works for the people of the state. 
• He bluntly tells his officers to observe 3T's: Team spirit, Transparency, effectively use Technology and put end to PC (percentage commission) culture.  He gave bureaucracy a free hand and encouraged them to come up with innovative solutions.
• In his first meeting with ministers and bureaucrats of the state, he was repelled by their obsequious behavior, saying their only interest was to find out what was his price. He went about cleaning the Augean stables with political astuteness and ruthlessness that surprised all. He was a mild and incorruptible political leader, and his first tenure in office was marked by his attempts to establish a transparent and corruption-free administration. In the process, he had to act against a corrupt bureaucracy and also some senior leaders of the BJD. He focussed on appalling poverty that had beset the state. He would drop ministers even at the hint of a scandal not fearing political consequences.
• Naveen Patnaik was felicitated by the United Nations (UN) for an effort to evacuate nearly a million people ahead of tropical storm, Cyclone Phailin, that made a landfall on coastal Odisha in October 2013.
• Naveen Patnaik's attempts to bring in transparency in the system and his massive drive against corruption in high places, including his own BJD, has given him the epithet of "Mr Clean". An honest, clean and credible image has become more important than the record of economic performance as the key parameter in accounting for the popularity of chief ministers.
• In 2004, Naveen Patnaik, 57, has grabbed the top slot as the best chief minister.  His impeccable credentials: caring and clean image, credibility, accessibility, and leadership qualities are the things that made him most popular Chief Minister.
• Patnaik still remains by far the tallest leader of the state. He remains unwaveringly focussed on the development of the state and pursues it with relentless zeal. He has no ambitions to move to the centre. His frugal lifestyle ensures that he has a squeaky clean reputation though some of his ministers and MLAs are now dogged with charges of scandals and scams. 
• Patnaik remain unfazed by criticism. He says the lessons of the office have taught him to be "attentive to the requirements of the people, to always keep your ears open to their problems and try to deal with them as effectively as he can. If Patnaik follows his simple but effective mantra and sets his party in order, a fifth term should come his way.
• In the recent Panchayat elections, although the ruling BJD won two thirds of the seats, the BJP won a third of the seats saw its vote share shoot up from 16% to 32%. BJP displaced the Congress as the main Opposition party and can pose a threat to the BJD in the 2019 Assembly elections. 
• Today, after 17 year, despite signs of anti incumbency and BJP emerging as a credible alternative, Naveen is still by far the tallest leader of the state remaining unwaveringly focused for development of the state pursuing with relentless zeal. He has no ambitions to move to Delhi. Despite his clean image, there are concerns about autocratic behavior, his reclusiveness, overreliance on coterie and lacking second line of leadership etc had its impact. But he remains nonchalant. If Naveen sets his party in order, a fifth term could be well within his reach in 2019.

Some excerpts from his interview

One must beware of ministers who can do nothing without money, 

and those who want to do everything with money ... Indira Gandhi

Start where you are, with what you have. 

Make something of it and never be satisfied ... George Washington Carver

My View:
Naveen Patnaik inherited shattered economy of Odisha, from Congress in 2000. Without much help from Central Government, he made significant progress since then, even though much more is yet to be done. A media & publicity shy person he is, yet he made impact on the people of Odisha which is a very much better place than he founded it. His presence in social media is very minimum. Modi should learn lots of lessons from him, who has the habit of talking too much and bombards publicity from all corners with selective truths and blatant lies and highlighting even his failures as grand successes. One of the poorest & backward states, Odisha even today with per-capita income (ranks 27 of 33) is significantly lower than national average and is only better than MP, Jharkhand, Assam, Manipur, UP & Bihar. Modi hasn't given any special assistance to Odisha during his 3 years, despite requests from Naveen Patnaik.

Austerity & Frugal Living

A house or any living place which is very simple and undecorated is said to be austere. An austere person is one who lives a simple life, and is strict and serious. If a person lives a very simple life with the minimum comforts, their way of living is austere.

• Austerity is neither poverty nor self-denial. Austerity comes out of maturity. It is a sign of social health. 
• Austerity born out of compulsion results in resentment of richness and is a pitiable state. The true austerity born out of maturity has tolerance for richness and is never resentful.
• Austerity is not against celebration and just vanity is not celebration.
• One who is rich in spirit can practice austerity. One may be rich materially but if he is poor in spirit he can neither celebrate nor evolve. Poverty of spirit is vanity. Austerity brings freedom from the pride of vanity. But taking pride in austerity is again a vanity!
• Austerity comes out of abundance, and austerity brings abundance. If you feel a lack in any area of life, immediately start austerity. Austerity not only brings freedom but nurtures sharing and caring.
• Enjoy life without luxuries and severe simplicity from time to time. Austere living is not an extreme or harsh form of self-denial. Rather, it is a way of cutting costs and distractions, so as to live deep and suck out all the marrow of life. Follow the frugal living rules: know your money, live below your means, know the difference between spending and investing, buy for quality, avoid consumer debt, know the difference between want & need. Never leave an opportunity to walk. Follow frugal living tips.
• Austerity helps making the world a better place. Lavish consumption is about spending and buying things to feel good, frugal consumption is about feeling good by being smarter and spending less; it’s about finding alternatives to the expensive and wastefulness of old-style consumption. Our 'must-have, must-buy' economy is eating into the planet's resources like never before. 
• If ostentatious, excessively indulgent, extravagant living got our planet into the mess it is in right now, then self-control and simplicity is how we will get out of it. 
• Austerity helps to provide equality among all humans, heal the environment, and improve the quality of life for everyone. 
• It should not be such that the rich can take an even greater share of the wealth while pressing global problems continue to be ignored.

A 2012 survey found that 40 percent of Americans are living paycheck to paycheck, putting them one car repair or one medical bill away from financial catastrophe. The number of Americans living in poverty equals 16 percent of the population. As the economic crisis drags on, the shop-till-you-drop exuberance that drove the long boom has given way to caution. Americans are deleveraging to reduce their debts to manageable levels. 

Read Personal Austerity Plan

Thrift is my guiding principle ... Indira Gandhi 

That man is rich whose pleasures are cheapest ... Henry David Thoreau

My View:

Living simple is often looked upon as a mark of giving up your ambitions, but the reality is that austerity is a virtue that enriches our lives but also contributes in making this world a better place to live. Simple living ensures that unnecessary things are out of life and focus on factors that affect the quality of life. Money is factor for happiness up to a certain point. Simplicity allows you to see the positive side of life, things that one might never be able to realize when mind is full of clutter. Austerity allows you to stay grounded and prevents you to develop feelings of ego, jealousy, greediness, and negativity. You no longer feel the need of getting into unnecessary competition which is superficial and temporary. Opulent person enjoys riches in life, an austere person leads rich life.