Explanation : Trusteeship is a socio-economic philosophy that was propounded by Mahatma Gandhi. It provides a means by which the wealthy people would be the trustees of trusts that looked after the welfare of the people in general. This concept was condemned by socialists as being in favor of the landlords, feudal princes and the capitalists. Gandhi believed that the rich people could be persuaded to part with their wealth to help the poor. The founder of the Tata group, JRD Tata was influenced by Gandhi’s idea of trusteeship. He developed his personal and professional life based on this idea. ....Read more