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Buddhist Philosophy in Economics Episode 04 Wednesday, March 26, 2025
Our Master, the Buddha, has explained five types of business that all Buddhists should refrain from and should not engage in:
1- Sattavaññāja, dealing in weapons for killing, namely making the weapons themselves or having others make them or obtaining them for some reason and selling them.
2- Sattavaññāja, dealing in people, namely people should not trade other people to become slaves of someone else or to serve their sexual desires or in any other form. All people have the same right to live freely.
3- Māmsavaññāja, dealing in meat, namely raising animals, such as pigs, and when those animals grow up, killing them and selling their meat.
4- Majjāññāja, dealing in intoxicants or drugs, namely mixing any substance to become intoxicants yourself or buying them and selling them.
5- Vishvanijja, dealing in poisons or poisoned drugs, is arranging poisons to be produced by oneself or having them mixed or obtained for any reason and selling the poisons or poisoned drugs.
These five types of business should not be engaged in by laymen, laywomen, and Buddhist monks because they cause insecurity and unrest. The trading of these five types of business is called mixed business or mixed business, which is contrary to the right business.
The dharma that brings about these four benefits to a person will bring prosperity and success to that person in this present life immediately.
These dharma are the source and a solid foundation for cultivating and sustaining global organizations, state organizations, and individual family organizations to develop and prosper. If any of these dharma is lacking, those organizations will inevitably be in trouble. In each state, there are many organizations such as economics, society, and politics. In the economic sector, such as industry and commerce, if all the leaders in the world lack dharma, the first is laziness, not making efforts in matters of duty, busy with each other, jealous of each other for personal gain, not trying to keep industry and commerce up to date, the economy cannot be immortal because there is still lying, corruption, theft, embezzlement, bribery, and confusion in the course of life. It is necessary to study and create classes to reach the level of moral education, to study according to the path of truth, in the third, fourth, and fifth stages, namely right speech, right action, and right conduct, for many years until the moral education is noble and pure, which is called noble character. If there is a lack of talent and a lack of talent, there is waste, there is no control over the place, there is always a lot of work, one person relies on another, still in the office, relying only on paper and lists, the results of industry and trade will be damaged, and the economy will decline.
If there are these two dharma, but the third dharma is good friends, there are dishonest people in the relationship with the seller, the buyer, there is fraud and deception for some reason, or there are corrupt colleagues who are in league with the buyer or seller, causing damage to the results of the industry and trade, the economy will decline.
If there are enough dharma 1, 2, and 3, but the fourth dharma is samjhivat, there is more expenditure than income, through waste or using too many employees due to inefficiency, which is an act that is done by only one person, we have 4 or 5 people, and it is not good anymore, or we buy too many items to get a percentage from the seller, while there is not enough money to buy other things, which leads to disruption of the process of industry and trade, the economy will decline.
When the economy declines because of one's own incompetence or because one is wicked and tries to raise the price of goods to counter it, it will cause even greater harm to society and consumers. This view of morality has a broad meaning for all the affairs of the world, as the small point above has already been brought to the fore.
(Work that is useful should be done, knowledge that is scarce should be practiced, unhappiness that is in oneself should be abandoned, and business that is profitable should be traded.)
Buddhist Economic Philosophy
Economics is a branch of knowledge that studies the physical growth (material growth) of humans. First of all, Buddhism is a theory oriented towards spiritual growth. Although economic stability plays an important role in daily life, Buddhism does not promote or encourage material growth because Buddhism teaches that everything is subject to change and is not permanent. For this reason, some people believe that Buddhism is a religion that does not contribute to economic progress and sows a pessimistic approach to the material development of the world.
The following are arguments in support of their view: 1- Buddhism is a religion that helps to make our lives in the next world happy and does not help to make our lives in this world prosperous.
2- Buddhism recognizes that this world is full of suffering and sorrow. Buddhism teaches a doctrine that helps to eliminate desires, which leads to the achievement of worldly progress.
3- The doctrine of "karma" in Buddhism is a barrier to the achievement of desires in this life.
4- The doctrines related to renunciation of worldly pleasures and the doctrines of living a simple life are obstacles to economic progress.
Because of this and the misunderstood, misunderstood, or ambiguous teachings of some of the facts contained in Buddhism, it has been declared that there is no economic philosophy in Buddhist theory. But when we examine this view, we come to the personal opinion that in the Dhamma that Buddhism teaches, there are many words related to the clear philosophy embedded in Buddhism regarding the individual in the socio-economic sphere.
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