[Buddha-l] Poll on Buddho-capitalism

[David S]

Richard wrote:
  > What the Protestant (and
>Buddhist) ethic results in is that commercial enterprises run by people who
>are disciplined and have integrity tend to prosper, and the entrepreneurs
>make money. Not being encouraged to spend it lavishly on comforts and
>luxuries, they live modestly and accumulate a surplus of resources that they
>then give to charities and invest in other enterprises.
  
 
  "Blumenthal, James" <james.blumenthal at oregonstate.edu> wrote:
Sounds nice.  Where does it exist?
   
  David S. :
   
  Planet Earth
   
  No, it is not widespread, but it does exist.  Did the Buddha despise the rich and wealthy?

Hardly. The Buddha and his Sangha counted on wealthy patrons and benefactors for the
   maintenance of the Orders, for land and buildings.

The Buddha spoke in favor of social equality, but did not despise the wealthy. The Buddha
   spoke against greed and stinginess and this does not preclude amassing wealth. Each lay
   person is required to make a living or have some means of support. The Buddha forbade
   certain occupations, but it had more to do with non-harming than it had to do with how
   much income or wealth is produced.

As more income and wealth is produced, more opportunities for generosity and renunciation
   can result, both paramitas, perfections of the heart. Of course those who are not wealthy
   can still practice generosity and renunciation too and then we all have the opportunity to
   develop mudita or altruistic joy. That is the joy with others' success. For some it can be
   easy to fall into resentment and jealousy, for others it is an opportunity to have joy in their
   success. One feels better for doing so and can head in that direction too.

In this quote from the Buddha, notice that wealth is acceptable:

  “The wise and virtuous shine like a blazing fire. He who acquires his wealth in
   harmless ways like to a bee that honey gathers, riches mount up for him like ant
   hill's rapid growth. With wealth acquired this way, a layman fit for household life,
   in portions four divides his wealth: thus will he friendship win. One portion for his
   wants he uses, two portions on his business spends, the fourth for times of need he
   keeps.”

Digha Nikaya 31, Sigalovada Sutta, Pali Canon

In the above quote, the Buddha states that 25% of income is for daily expenses, 25% for a
   rainy day and a large 50% for investment. Half is for a business, but if one does not have a
   business, this can be in another form of investment, such as a 401K, Certificate of Deposit,
   or other savings.
  
 
  “Monks, these five trades ought not to be plied by a lay-disciple... Trade in
   weapons, trade in human beings, trade in flesh, trade in spirits [intoxicants] and
   trade in poison.”

Anguttara Nikaya 5.177, Vannija Sutta, Pali Canon

In the above quote we see the occupations that are not allowed. There is no prohibition to
   running a business of right livelihood that happens to be successful. There is no prohibition
   against accumulating wealth, as long as there is not stinginess, treating employees
   unfairly, and being attached to the accumulation of further wealth.

Anathapindika was a wealthy businessman during the time of the Buddha. He
   wanted to buy a nice piece of land and donate it to the Sangha. The prince would
   not sell the land. Finally after some persuading, Anathapindika was able to buy it
   by placing about 18 million gold coins all over the land, each coin touching
   another gold coin. Then Anathapindika had buildings and meditation halls built on
   the land for the Buddha and the Sangha.

Cullavagga 6.4, Pali Canon

Now of course there are many examples of greed gone really bad in the corporate world.
   "Don't get me started" as the saying goes about some of the ridiculous salaries made by
   some of the top CEOs. No one is worth USD $5,000 a minute, which is what some of those
   salaries compute to.

But there are also many examples of generosity among the rich and wealthy, such as Bill
   Gates (over $2 billion given away), Warren Buffet (over $30 billion, nearly all of his wealth to
   be given to charity over the next ten years), and Oprah Winfrey (recently opened a $40
   million girls' school in S. Africa). 

I read somewhere that one of the top contributors to charities among all celebrities is Jackie
   Chan, a Buddhist. We tend to hear more of the Gates, the Oprahs, Angelina Jolie, and
   others, but not Jackie Chan. Apparently he gives without tooting his own horn. Wonderful
   generosity, humility, and renunciation.
   
  Many countries that have developed with democracy and capitalism enjoy more free time, a
  better "standard of living" and decreased poverty than nations which developed without
  capitalism and democracy.  Examples include Western Europe and Japan.  Many of us
  may remember when we were reminded to finish the food on our plates as children, 
  because "other kids are starving in Japan."  Democracy and capitalism mixed in Japan
  and it is now an economic super-power.  In Western Europe the people enjoy long 
  vacations and have delved in spiritual pursuits in their spare times, including Buddhism.
   
  In third world nations, poverty is the main issue and no one has time or interest in
  vacations or spiritual matters.  I am not saying that all of them are less happy or that you
   need vacations and spirituality to be happy, but as a general rule, those whose principal
   concerns everyday is if they will eat or not, will not be as content and happy as those who
   have no such fears or concerns.
   
  Socialist and communist societies did not alleviate poverty and instead made the masses
  more impoverished with less incentives and economic opportunities.  The Buddha was no 
  Libertarian as he did call for good working conditions for workers.  But he did express some
  views which could be taken to be similar to the Libertarian Party philosophy:
   
  "Grounds for praise:  He seeks wealth lawfully, without violence.  He makes himself happy
  and pleased.  He shares it and does meritorious deeds.  He uses that wealth without being 
  tied to it, uninfaturated with it, not blindly absorbed in it."
  Samyutta Nikaya 42.4
   
  In the same passage, the Buddha describes the conditions that lead to destruction of 
  families and this includes:
   
  "mismanaged undertakings fail;  or there arises within a family a wastrel who squanders,
  dissipates, and fritters away its wealth."
   
  The context of that passage is an ascetic who challenges the Buddha and his monks
  for doing alms rounds when people are starving.  The Buddha responds in so many words
  that it is there karma for their actions and lack of discipline in not obtaining wealth while
  those who were disciplined and generous became wealthy.
   
  To keep capitalism in check, I think a healthy mix of some socialist ideas can enhance
  it to a better system, sort of like what exists in Western Europe.  I think that would be in
  line with the core of Buddha's teachings on middle way and compassion and also being
  pragmatic and realistic (not indulging in lofty ideals which don't work in practice).
   
  David S.
   

       
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