Editing SG33SHS-T (section)

==== a. The Buddha’s Teachings on Economics ====

When the Buddha attained enlightenment and began preaching, his first sermon was delivered to five religious seekers in Deer Park. The doctrine he preached was as follows:

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O seekers! In this world there are two extreme ways of living. One is the path of excessive desire for wealth and bodily pleasures, which ultimately leads to suffering. The other is the path of neglecting material existence and seeking only spiritual stability, which results in being trapped in worldly worries. I have escaped from these extremes and discovered the middle way. It is the path of balancing material well-being with the improvement of spiritual life, leading to infinite happiness. (''A New Translation of Buddhist Scriptures'', p. 27)<ref>''Shin’yaku bukkyō seiten''. The original is found at ''Dhammacakkapavattana Sutta'', SN 61: 11. A contemporary translation of the same passage by Bhikku Bodhi may be found at: [https://www.budsas.org/ebud/ebsut001.htm “Setting in Motion the Wheel of Dharma,” BuddhaSasana], accessed September 18, 2024.</ref>
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The middle way entails [the teaching of] “no-self,” as mentioned above in the response to the question posed by the disciple Mālukyaputta. The practice of no-self specifically involves the practice of the Ennobling Eightfold Path, which consists of right view, right intention, right speech, right action, right livelihood, right effort, right mindfulness, and right concentration. In essence, it means perceiving life as it is, recognizing delusions clearly, and living in accordance with the correct way of life. Delusions arise from the concepts of “self” and “desire.” Therefore, awakening entails recognizing “interdependent co-arising” and “non-self,” and engaging in mutual support and coexistence in social life. The ideal of the monastic community (sangha) embodies this principle. However, from the perspective of the middle way, the current form of conceptual spiritualism is clearly a distorted form of Buddhism. The Buddha did not ignore material existence; he insisted that the economy, which is the foundation of social life, cannot be at all neglected.

For example, in the ''Upāsaka Precepts Sutra'', it is written: “After first learning worldly matters in accordance with the Dharma and being well-versed in them, one should then seek wealth in accordance with the Dharma.”<ref>This is presumably Seno’o quoting from a Japanese rendering of a passage from the ''Ubasoku kai kyō'' 優婆塞戒経 in the ''Shin’yaku bukkyō seiten''. For the original, see ''Ubasoku kai kyō'', T no. 1488, 24: 1048c20–22. In this text, the Buddha explains the bodhisattva precepts for laypeople.</ref> As for the method of handling acquired wealth: “If one acquires wealth, one should divide it into four parts: one part should be offered to one’s parents, oneself, one’s spouse, and one’s dependents; two parts should be invested and used in business in accordance with the Dharma; and the remaining part should be saved for future needs.”<ref>T no. 1488, 24: 1048c22–24.</ref>

As for the teachings on the method of preserving this wealth: “Good man, do not donate your possessions to four types of individuals: the elderly, those who live far away, evildoers, and the powerful.”<ref>T no. 1488, 24: 1048c25–27.</ref> “Donate” here refers to entrusting or depositing money. This fourfold calculation is also mentioned in the ''Sigālovāda Sutra''<ref>DN 31; ''Zenshōkyō'' 善生経, T no. 360, 12. The focus of this text is on the “good life” for Buddhist householders.</ref> and the ''Saṃyukta Āgama''.

The ''Sigālovāda Sutra'' enumerates six causes of reckless spending, cautioning against excessive drinking, indulging in nightlife, indulging in entertainment and amusements, engaging in gambling, associating with bad companions, and succumbing to laziness. Furthermore, the Buddha emphasizes other causes of wealth depletion including calamities caused by the king (representing present-day exploitation), bandits, water disasters, fire disasters, natural wear and tear, low interest rates, failure to repay debts, destruction by enemies, and the reckless spending of wayward children.

On one occasion, a young boy named Bhaddiya approached the Buddha seeking a method to live comfortably. In response, the Buddha taught him the following “four foundations of success”:

# Skillfulness in one’s occupation: this refers to being proficient in one’s chosen profession.
# Competence in wealth management: this entails effectively managing and safeguarding one’s wealth.
# Associating with good friends who possess joyful knowledge: this involves associating with virtuous companions who lead a righteous life.
# Practicing moderation in expenditure and avoiding both extravagance and stinginess: this means living within one’s means and not falling into wastefulness or miserliness.<ref>''Dīghajāṇu (Vyagghapajja) Sutta''. A contemporary translation of the same passage from the Pali by Narada Thera (1997) is available at: [https://www.accesstoinsight.org/tipitaka/an/an08/an08.054.nara.html “Dighajanu (Vyagghapajja) Sutta: Conditions of Welfare,” Access to Insight], accessed September 18, 2024.</ref>

These teachings provide guidance on how to live a comfortable and balanced life.

Indeed, when we examine these teachings, it becomes evident that Buddhism is not merely a form of spiritual idealism. The essence of Buddhist faith lies rather in the diligent pursuit of a disciplined and rational way of practical living. It promotes the practice of a genuine middle path that differs from the formal austerities and speculative contemplation found in Brahmanism and other religious practices.