The popular definition of western economics is “The science that analyzes the behavior of man trying to fulfill his unlimited desires using limited resources.”
By simply analyzing the definition itself, one could understand that this so called ‘Economics’ is mere a futile effort. How in this world, one find a way to satisfy unlimited desires using limited resources. As long as resources are limited (a fact), you can not met with unlimited desires of even a single person, and not to mention on trying to meet desires of all the people. It is just an attempt to find a solution for a problem which they accept by definition as non feasible problem to resolve.
If one still remembers his college algebra, this is just like a futile attempt to find real roots of a square equation of which no real roots available. (i.e ax2 + bx + c = 0 where b2-4ac is less than zero) The mathematicians proved that this type of equations can not have real roots (solutions) and they come up with different solution which involved complex numbers.
However, in modern economics theory, they accept the fact that there is no real solution, still trying out to solve the issue in traditional approach. This western approach is just like a child crying for moon!!. In reality, it has just created a competition to consume most amount of natural and human resources in attempt to full fill (unlimited) desires of people resulting more unrest, hatred and unhappiness among the man kind.
In the contrary, the realistic solution for this dilemma (for Western world) has been known to Eastern world in the form of Buddhism.
Not even if it rained gold coins;
would we have our fill of sensual pleasures.
'Stressful, they give little enjoyment'.
Knowing this, the wise one finds no delight;
even in heavenly sensual pleasures.
He is one, who delights in the ending of craving,
a disciple of the Buddha
All thoughts begin in the mind;
Mind is supreme and mind-made are they.
If one speaks or acts with impure mind, pain follows him,
Like the wheel of the cart, the track of the ox that pulls it.
All thoughts begin in the mind;
Mind is supreme and mind-made are they.
If one speaks or acts with pure mind, happiness follows him,
Like one’s shadow that never leaves.
- Dhammapada (The Buddha)
Now, the solution is different, Buddhism does not promote the idea of trying to satisfy unlimited desires, rather it provide a realistic solution where one has to control his desire knowing that the resources are limited. Unlike the western Economics theory, what Buddha taught is a feasible solution which is in harmony with the nature.
When someone just looks at this Buddhist concept on the surface, he might see this as a heedless and negative view. However, the practical Buddhists who understand the reality of unsatisfactoriness, certainly lives more happily than their western counterparts. The secret for all friendly and happy faces in Buddhist countries is that they have a practical way of life to supersede the reality of unsatisfactoriness.
Those who think that Buddhism is interested only in lofty ideas, high moral and philosophical thoughts, and that it ignores the social and economic welfare of people, are wrong. The Buddha was interested in the happiness of men. To him happiness is not possible without leading a pure life based on moral and spiritual principles.
Buddhism does not consider material welfare as an end in itself; it is only a means to an end- a higher and nobler end. So Buddhism recognizes the need of certain minimum material conditions favorable to spiritual success.
Himself and the World
In the Buddha Dhamma, the human being is an impersonal combination of ever-changing mind and matter. In the flux is found no unchanging soul or eternal principle. The self or soul is then a piece of fiction invented by the human mind. To believe in such an absurdity is to create another source of unhappiness. One should therefore see oneself as one truly is — a conflux of mind and matter energized by tanha or craving, containing immense possibilities for both good and evil, neither overestimating nor underestimating one's capacities and capabilities.
Buddhist never consider oneself as a unique isolated entity in the world, rather thy identified ‘ego’ as a false view and each individuals are part of the nature and its flow of existence.
A Buddhist tries to see things as they really are. He remembers the instability of everything and understands the inherent danger in expecting to find permanence in existence. In this way, he strives to insulate himself from potential disappointments.
Balanced Life
A discerning lay Buddhist is not unduly elated or upset by the eight worldly conditions of gain and loss, honor and dishonor, praise and blame, pleasure and pain. He does not expect too much from others, nor from life, and recognizes that it is only human to have one's share of life's ups and downs.
Heedfulness leads to immortality.
Heedlessness leads to death.
The heedful are immortal,
The heedless, though living are like the dead.
- Dhammapada (The Buddha)
Buddhist is not a heedful or negative one, in fact he must be a very active and headless character. However his effort is now not only for his benefit, but also for others well being and prosperity. A practical Buddhist knows his real needs as oppose to superficial trends created by various marketing elements in the society and therefore, he has time to strive for his own real benefit and also to serve the society with loving kindness.
Simple Life as Oppose to Being a Slave to Marketing Forces
“Just like a hen wondering here and there to find a place to hide her egg, people are starving to satisfy themselves”
Every mindful lay Buddhist sees the world in its real form. He can identify his real needs without get trapped into various marketing campaigns around him, so called social pressure, etc. Buddhist layman is a free thinker. He sees that others spent most of time busy collecting money for so called pleasure seeks. People go for night clubs, drinking, addicted to films or music, etc. The Buddhist layman knows all these excessive activities by people are to satisfy so called ego.
But in this sense, Buddhist has identified the reality of life, its unsatisfactory nature. Having fully understood this reality, they live a happy life. They are no longer living in past or future. They live every single moment happily.
Society of peace and harmony
In the competition, people loose their virtue and internal tranquility. Buddhist society is not place where every one is competing with each other, but a place where every one live in harmony with each other and importantly with the nature and its resources.
References:
What the Buddha taught by Ven. Walpola Rahula
Mind Unshaken by John Walters