Buddhism and economics

Question

In the present context of the world, the chain of economics and happiness as I see it is, money is necessary to fulfill one's basic necessities (even if not luxuries), to earn money we need jobs, to make jobs we need to manufacture things, to sell things that have been manufactured, they have to be marketed and people have to be eventually 'desire' to buy these items and feel that they are happy to keep the chain alive.

But because of this chain, for example the automobile industry, we have more cars on road, more pollution, more environmental and health issues and so on.

So I was thinking if there is a better economic model which we can learn and devise from the teachings of the Buddha. Is there some other method we can adopt to reinvent this chain and relation between economics, happiness and consumerism? I do understand that real 'happiness' as taught by the Buddha and the happiness that one obtains by practising meditation is the way ahead to limit our desires and achieve a balance in the world. On these lines, I read something on 'Sufficiency Economics' briefly and felt it was a good topic.

I wish to ask if anyone can provide references to any other topics or books that relate economics, consumerism and Buddhism that offer a practical solution to a really happy world.

Answer 1

This is not directly related to economics but Buddha's Ten Royal Qualities (Dasa Raja Dharma) is an excellent guidance to handle a country and thereby the economy as well.

Check this link to get an idea: THE CURRENT RELEVANCE OF DASA RAJA DHARMA

Here's a very brief extract/summary from that article:

The promise of dasa raja dharma (ten principles of Buddhist governance) has been a trademark emotional appeal that our rulers have used to win elections.

1. Dana -- Liberality, generosity, charity.
2. Sila -- a moral character.
3. Pariccaga -- sacrificing everything for the good of the people.
4. Ajjava -- honesty and integrity.
5. Maddava -- kindness and gentleness.
6. Tapa -- austerity of habits.
7. Akkodha -- freedom from envy, ill-will, enmity.
8. Khanti -- patience, forbearance, tolerance, understanding.
9. Avihimsa -- non-violence, which means not only that he should harm nobody, but that he should try to promote peace by avoiding and preventing war, and everything which involves violence and destruction of life.
10. Avirodha (non-opposition; nonconfrontation) as they are related though not the same.

Answer 2

Buddhas aren't in the business of teaching how to be happy. Sorry.

The real deal is concerned with freedom from circumstances, including the ones you're particularly worried about. As it just so happens, this freedom typically brings a kind of happiness but it's only the perfume of the main game.

Work on yourself. This will help others immeasurably.