Trusteeship is a socio-economic philosophy that was propounded by Mohandas Karamchand Gandhi.
[2] Gandhi believed that the wealthy people could be persuaded to part with their wealth to help the poor.
Putting it in Gandhiji's words "Supposing I have come by a fair amount of wealth – either by way of legacy, or by means of trade and industry – I must know that all that wealth does not belong to me; what belongs to me is the right to an honourable livelihood by millions of others.
"[1] Gandhi along with his followers, after their release from prison formulated a "simple" and a "practical" formula where Trusteeship was explained.
A draft practical trusteeship formula was prepared by Gandhi’s co-workers, Narhari Parikh and Kishorelal Mashruwala and it was fine-tuned by M.L.