The greed for wealth arises from delusion. When we do not place things in their right perspective, some objects are given an inflated value, while others are neglected. Life has to be seen, not in parts but in its entirety. We give undue importance to wealth and so life is exhausted in accumulating wealth. Wealth should be kept in its appropriate place.

As a teenager, the arrival of one of my cousins from abroad caused great excitement. All of us gathered around him, curious to see his imported acquisitions. Finally, he took out his shoes and asked us to guess the price. He was thoroughly amused at our lack of knowledge about the famous Bally shoes and left us speechless at the astronomical cost of US $ 300. The old maid who had brought up my cousin was also present and was aghast – Rs 15,000 for a pair of shoes! The next day my cousin was unable to find his shoes. After a whole morning of confusion, we discovered that the maidservant had wrapped them in a piece of white cloth, placed them on the top shelf of a cupboard and locked it. “How can you wear such expensive shoes on these dirty Mumbai streets?” she asked.

Now, a hat may cost Rs 10 and a pair of shoes Rs 15,000, but the hat is worn on the head and the shoes on the feet. Wealth has got its own use. Wealth is essential to provide us with the necessities of life, therefore, produce and acquire wealth, but keep it in the right place.

The problem lies in the erroneous notion that wealth gives happiness. Wealth can buy comforts, never happiness. Wealth can buy food, not hunger. Wealth can buy sycophants and followers, not friends. With wealth one can make many enemies, but one cannot buy love. Wealth can buy locks but not security. By itself wealth does not really give happiness, so do not give it an inflated value. Give up the greed for wealth.

It seems that this is contrary to modern management counsel, which insists that one must always want more, that one must have higher ambitions. Greed for wealth may be a driving force but when the time comes to enjoy it, one suffers from blood pressure, heart attack and diabetes. For example, people have acquired luxurious beach resorts but they themselves are so busy earning money to pay off mortgages, that their servants are left to enjoy the palatial houses. Look at the irony of life!

The greatest wealth is peace of mind. Therefore, practical wisdom is to live with whatever one earns by honest effort and to entertain one’s life with that. This is the difference in attitude between the East and the West.

Some time ago, while in the United States, I questioned a company executive on the criteria he applied in the selection of his officers. He replied, “We employ a person who has a large mortgage, a good standard of living and sends his children to private schools. Such a person will work and be dedicated to the company. On the other hand, if we employ someone who doesn’t need anything he may leave us whenever he wants.”

So the philosophy of the East is to live in happiness and contentment with the product of one’s honest labor and efforts. Ambition and desire for further achievement is not to be negated. If you can, don’t settle for thousands, go for crores, but live with whatever you can honestly earn.

There are two kinds of people in India, who are considered to be excellent in business. The first kind of people make money and immediately display its affluence in the form of ornate houses, Mercedes cars, diamond jewellery, and beautiful clothes. The other category of people also make millions but live in small flats. They produce more but live a simple life. If you earn a thousand, live by a thousand, if you earn a lakh, live by a lakh, if you earn millions, live by millions, but live by your means, not by your greed. I travel all around the world, but nowhere do I see such cheerful faces as in India, where one can hear joyous laughter even in the slums because people live within their income.

The art is – to live within your means. Hence, the Ishavasya Upanishad counsels us not to covet another’s wealth. Don’t live by contracting debts. Work and live with whatever you produce by your efforts. Greed has no limit, provide for your needs and when your needs are satisfied, there is peace.

In India we have never condemned wealth. In fact, during Diwali, wealth is worshipped as Lakshmi. She is wedded to Narayana, she is the spouse of the Lord. He cannot fulfill his role as the Preserver without her. Therefore, Lakshmi is to be worshipped; she stays at the Lord’s feet, but she makes us dance because we place her on our heads. Here wealth refers not just to money but also to your house, family, life, name and fame, and most important of all, to inner values!

The Author is the Global Head of Chinmaya Mission