In plain words
That is, in our Bhārata, on the path of surrender steeped in Bhakti, we do also go on savouring so many descriptions of the principle of Īśvara. But as for what being Īśvara means: the right meaning of being Īśvara is just this, one who possesses every aiśvarya. And the greatest within this being Īśvara is Maheśvara. It is the authority of our culture that this creation, sustenance and dissolution take place by the very will of that Maheśvara. It is said that Viṣṇu is none other than the left side of this Maheśvara, Śiva the right side, and Rudra the part between these two. Now, Śiva means He who brings us happiness, He who gives auspiciousness: so He has the name Śiva. Because He stands as our guide in many ways, gives us every aiśvarya and shows the way to this world and the next; because the aiśvarya of Jñāna, the aiśvarya of riches, the aiśvarya of virtue and the aiśvarya of strength all belong to aiśvarya itself; because He gives us every aiśvarya: for that very reason they have been calling Him Śaṅkara. Śaṃ-kara. He who gives happiness. He who gives Cidānanda. He who gives Saccidānanda. Because He is the one who dwells in the hearts of the good, because He Himself lies in the heart of such a one, for that reason too they have been calling Him Śiva. It was with just such sacred meanings in view that yesterday I spoke of three prajñās. Jīvaprajñā, Īśvaraprajñā and Ātmaprajñā. I made it known that jīvaprajñā binds itself, Īśvaraprajñā binds others, and Ātmaprajñā brings release from bondage. But a doubt arose in some: ‘How does this thing called Īśvaraprajñā bind others?’ That is, one can try to bind others by aiśvarya. Īśvaraprajñā, or the aiśvarya given by Him, takes various forms. It may be in the form of wealth, in the form of Prema, in the form of strength, or in the form of intelligence. That is, those who have Īśvaraprajñā may bind some with Prema, some with strength, some with wealth.