Author: Ven. Dr. Thich Tam Due Lecturer, Vietnam Buddhist University

In matters related to what we now refer to as the economy, the Buddha offered a number of ideas which may be particularly helpful in guiding humanity towards the comprehensive resolution of our past and present day problems.

The earliest definitions of political economy of the West were simple, elegant statements defining it as the study of wealth. The first scientific approach to the subject was inaugurated by Aristotle, whose influence is still recognized today by the Austrian School. Adam Smith, author of the seminal work The Wealth of Nations and regarded by some as the "father of economics," defines economics simply as "The science of wealth" or "The Science relating to the laws of production, distribution and exchange." According to the Dictionary of Webster's New World, economy is the management of the income, expenditures, etc. of a household, business, community, or government; careful management of wealth, resources, etc; avoidance of waste by careful planning and use; a system of producing, distribution, and consuming wealth. In general, the definitions of economy mean how to be able to sell the goods (in the side of the producer or seller) or to be able to satisfy the needs (in the side of the buyer); and the economist does not think at all the moral consequences of the economy activities or the stage after the satisfaction of the needs. For example, the producer or seller of wine simply thinks how to be able to sell the wine as much as possible and yet he does not count the consequences of the consumption of it such as traffic accident, family violence.

Nowadays, Buddhism with meditation and techniques of insights into the human condition are well known in the West. Simultaneously, an image of Buddhism with austerity or escape from worldly concerns into a private, hermetic realm of bliss is still quite popular among people. In fact, the Buddha's teachings cover every aspect of suffering life and guide us how to conduct and attain the harmony and happiness in a world full of insecurity.

The sole aim of Buddhism is to benefit the emotional and spiritual welfare of all sentient beings, to decrease suffering and to bring a sense of inner harmony. However, simply reading and reciting the Dharma is not enough. Only through the practice of meditation and mindfulness of thought, action and speech can we truly achieve this sense of internal and external harmony. The Buddha expounded that the world is insufficient, thirsty and enslaved to greed (tanha). He retailed a story of a rich king ruling a powerful kingdom, he was nearly eighty years old; however, when hearing any nation having a number of gold, livestock, pretty women, he got excited and personally sent a punitive expedition against it. Greed of human beings is unlimited. And, it is the cause of social insecurity on many realms inclusive of economy.

As for today's economy, human beings have attained marvellous achievements with an ever-increasing number of applications of science and technology constantly being created to meet humanity's needs. However, these achievements are a double-edged sword. On the one hand, they can be very helpful but unfortunately, they can also be detrimental. Thus, we must., guard against the unjust, immoral, irresponsible and selfish use of the new applications. The world now faces severe problems such as terrorism, fuel shortages, an ever-increasing gulf between the rich and the poor, pollution, AIDS, and immorality. The culprit of these severe results is none other than tatlha of humanity. Buddhism also has a kind of want (chanda) different from tatlha. Tatlha is to satisfy oneself, causing the inner unstableness and social insecurity. Meanwhile, chanda is of altruism, bringing benefits to oneself and to others and contributing security to community, it is the harmony of the individual, society and environment.

What the world needs so far is a progressive revolution of values. Our efforts must aim at building a new global environment which values harmony with nature and the protection of the world's unique ecosystems. The Buddha was concerned with the environment, instructing the monks not to harm the seeds and various kinds of vegetation and not to accept the seeds and fresh meat. We should also seek to transform the world from mono- polar to multi-polar, from monopoly and appropriation to an inclusive structure of helping, sharing and cooperating. Only through a transformation of mind can this purpose come to fruition. Buddhism can serve as the means by which we can bring about this transformation of mind. Buddhism is not only concerned with the ideals of morality and profound philosophy. It also must address practical issues of suffering such as the socio-economical problems of human beings. As the following story illustrates, Buddhism and mindfulness are not only appropriate for the intellectual and religious order but also for the general public. One man sought out the Buddha in order to learn the Dharma. The Buddha gave him a verse.

However, try as he might, the man could not learn it by heart. Then, after discovering that the man was a blacksmith, the Buddha instructed him in the method of counting his breath in and out with the tune like his job. Not so long after that this blacksmith attained enlightenment. And, the Buddha did mention every trouble aspect of life including that of economy.

The Buddha realized that it is hard to lead a pure life under poor conditions. "For householders in this world, poverty is suffering." "Woeful in the world is poverty and debt." Poverty and want, like tatlha, contribute to crime and social discontent. Accordingly, from the point of view of the government, it ought to see the needs of those who are in want and to strive to repel poverty from the country. At the very least, honest work should be available to all people, trade and commerce should be encouraged, capital should be organized and industries monitored to guard against dishonest or exploitive practices. By this criterion, the absence of poverty is a better kind of government's success than the,presence of millionaires.

Furthermore, the Buddha had a number of practical teachings, contributing to the stable developing economy. One time, a Brahmin named Ujjaya went to visit the Buddha to ask his advice on how to gain prosperity through right livelihood. The Buddha answered by explaining the conditions that lead to happiness in the present and in the future:

Brahmin, these four conditions lead to happiness and benefit in the present. They are, industriousness, watchfulness, good company and balanced livelihood.
And what is the endowment of industriousness (utthana-sampada)? A son of good family supports himself through diligent effort. Be it through farming, commerce, raising livestock, a military career, or the arts, he is diligent, he applies himself, and he is skilled. He is not lazy in his work, but clever, interested. He knows how to manage his work, he is able and responsible: this is called endowment of industriousness.

And what is the endowment of watchfulness (rakkhana-sampada)! A son of good family has wealth, the fruit of his own sweat and labour, rightly obtained by him. He applies himself to retesting that wealth, thinking, 'How can I prevent this wealth from being confiscated by the King, stolen by thieves, burnt from fore, swept away from floods or appropriated by unfavoured relatives?' This is called the endowment of watchfulness.

And what is good company (kalyana-mitta). Herein, a son of good family, residing in a town or village, befriends, or discourse with, and seek advice from, those householders, sons of householders, young people who are mature and older people who are venerable, who are possessed of faith, morality, generosity, and wisdom. He studies and emulates the fifth of those with faith; he studies and emulates the morality of those with morality; he studies and emulated the generosity of those who are generous; he studies and emulates the wisdom of those who are wise. This is to have good company.

And what is balanced livelihood (sammaajiva)! A son of good family supports himself in moderation, neither extravagantly nor stingingly. He knows the causes of increase and decrease of wealth; he knows which undertakings will yield an income higher than the expenditure rather than the expenditure exceeding the income. Like a person weighing things on a scale, he knows the balance either way. If this young man had only a small income but lived extravagantly, it could be said of him that he consumed his wealth as if it were peanuts. If he had a large income but used it stingingly, it could be said of him that he will die like a pauper. But because he supports himself in moderation, it is said that he has balanced livelihood.

Brahmin, the wealth rightly gained in this way has four pathways of decline. They are to be given to debauchery, drink, gambling, and association with evil friends. It is like a large reservoir with four channels going into it and four channels going out opened up, and the rain does not fall in due season, that large reservoir can be expected only to decrease, not to increase.

Brahmin, wealth so gained rightly has four pathways of prosperity. They are to refrain from debauchery, drink and gambling, and to associate with good friends, to be drawn to good people. It is like a large reservoir with four channels leading into it and four channels leading out. If the channels leading into it are open up, and the channels leading out are closed off, and rain falls in due season, it can be expected that for this reservoir there will be only increase, not decrease. Brahmin, these four conditions are for the happiness and benefit of a young man in the present moment.

The Buddha then kept on to describe four conditions, which lead to happiness and benefit in the future. In short, they are to possess the spiritual qualities of faith, morality, generosity and wisdom.

In the following passage, the Buddha explains to Anadthapindka, a millionaire, some of the benefits that can arise from wealth:

Moreover, with the wealth that has been obtained by his own diligent labour, acquired through the strength of his own arms and the sweat of his own brow, rightly acquired, rightly gained, the noble disciple makes the five kinds of sacrifice. They are: to relatives (supporting relatives); to visitors (receiving guests); to ancestors (offerings made in the name of ancestors); to the king (for taxes and public works); and to the gods (that is, he supports religion). This is another benefit to be derived from wealth.

Moreover, with the wealth that has been obtained by his own diligent labor, acquired through the strength of his own arms and the sweat of his own brow, rightly acquired, rightly gained, the noble disciple makes offerings which are of the highest merit, which are conducive to mental well-being, happiness and heaven, to religious mendicants, those who live devoted to heedfulness, are established in patience and gentleness, are trained, calmed, and cooled of defilements. This is the fifth benefit to be obtained from wealth.

Concerning economy, the Buddha also emphasizes the expansion of business. "Wealth should be divided into fourfold: 1) One part to be used for conduct of daily life and fulfilling obligations, 2-3) Two parts to be invested in expanding business enterprises, and 4) One part to be put aside for a rainy day." However, he forbids to do some of occupations harming humanbeings, animals, health and human dignity, leading to social confusion. They are: trade in weapons; trade in human beings; trade in flesh (animals for meat); trade in spirits (and drugs); and trade in poison.

However, in comparison with two kinds of happiness, material and spiritual, the Buddha emphasizes the latter is superior to the former. Once, giving teaching to Anathapindka, the Buddha described four kinds of happiness for a householder, i.e., happiness of ownership (attha-sukha), happiness of enjoyment (bhoga-sukha), happiness of freedom from debt (anana-sukha), and happiness of blamelessness (avajja-sukha). And the first three kinds of happiness are not worth a sixteenth part of the happiness that arises from blameless behaviour. He also said, "Wealth destroys the foolish, but not those who search for the Goal.'" The searcher for the Goal, according to Buddhism, is the person who keeps away from tanha.

True happiness is only attained by meditation. One time, after debating with the followers of a different sect, the Buddha asked them whether they believed that he or King Bimbisara lived a happier life. Those hermits replied that the Buddha lived happier than the king, because the king could not sit in meditation for one week, for six days, for five days or even for one day. The Buddha, however, could sit in meditation for one day, one day or even one week.

As Vietnam's economy grows and economic prosperity increases, we should keep in mind the Buddha's message that economic issues must be approached with morality, and the social welfare of all sentient beings must remain the prime focus. In another words, the economy must retain a humanitarian focus. With the contribution of Buddhism - enlightenment, discourses and enlighteners - economic growth is comprehensive and can truly benefit us all.

Herein, householder, there are five uses to which wealth can be put. They are: With the wealth that has been obtained by his own diligent labour, acquired through the strength of his own arms and the sweat of his own brow, rightly acquired, rightly gained, the noble disciple supports himself comfortably, sufficiently, he applies himself to seeing to his own happiness in rightful ways. He supports his father and mother, wife and children, servants and workers comfortably, to a sufficiency, applying himself to their needs and their happiness as is proper. This is the first benefit to obtain from wealth.

Moreover, with the wealth that has been obtained by his own diligent labour, acquired through the strength of his own arms and the sweat of his own brow, rightly acquired, rightly gained, the noble disciple supports his friends and associates comfortably, to a sufficiency, taking an interest in their happiness as is proper. This is the second benefit to be derived from wealth.

Moreover, with the wealth that has been obtained by his own diligent labour, acquired through the strength of his own arms and the sweat of his own brow, rightly acquired, rightly gained, the noble disciple protects his wealth from the dangers of confiscation by kings, theft, fire, flood, and appropriation by unfavoured relatives. He sees to his own security. This is the third benefit to be derived from wealth.