Who has given the concept of Fiduciary Trust ?

Correct option is B

The concept of fiduciary trust is closely associated with John Locke, a 17th-century English philosopher. Locke developed the idea in his work "Two Treatises of Government", where he explained the social contract and the foundation of government authority. According to Locke, the government holds power as a trust granted by the people, who are the ultimate sovereigns. This fiduciary relationship means that the government is accountable to the people and must act in their best interests.

Key elements of Locke's fiduciary trust concept:

1. Power is delegated by the people to the government under mutual trust.
2. The government must protect the natural rights of life, liberty, and property.
3. If the government breaches this trust, the people have the right to revolt and establish a new government.

This idea laid the groundwork for modern constitutional democracies and the principle of accountability in governance.

Key Points:

1. John Locke viewed government as a trustee of the people.
2. The fiduciary trust highlights the moral obligation of governments to act in the public's interest.
3. Locke’s philosophy significantly influenced the American and French revolutions.

Information Booster:

• Hobbes: Advocated for a strong, centralized authority in his social contract theory but did not frame it as a fiduciary trust.
• John Rawls: Focused on justice as fairness, not on the fiduciary relationship between government and people.
• John Stuart Mill: Championed liberty and utilitarianism, emphasizing individual freedom over fiduciary concepts.

Additional Information:

• Locke’s fiduciary trust concept forms the basis of the modern idea of the rule of law, where governments are accountable to the people.
• This principle is enshrined in democratic systems where checks and balances ensure the government does not abuse its power.