A Quote by Ven Payutto on economics, wealth, materialism, marxist, buddhism, possessions, and livelihood

For the individual, the objective of livelihood is to acquire the four necessities or requisites of human existence: food, clothing, shelter, and medicine. Again, the acquisition of these four requisites, be it in sufficient amount or in surplus, is not the ultimate objective. The four requisites are merely a foundation upon which efforts to realize higher objectives can be based.

Some people are content with few possessions and need only a minimum to devote their energies to mental and spiritual development. Others cannot live happily on such a small amount; they are more dependent on material goods. As long as their livelihood does not exploit others, however, Buddhism does not condemn their wealth. Moreover, people who are charitably inclined can use their wealth in ways that are beneficial for society as a whole.

In opposition to contemporary urban values, Buddhism does not measure a person's or nation's worth by material wealth. Nor does it go to the opposite extreme, as do Marxist thinkers, and condemn the accumulation of wealth as an evil in and of itself. Instead, Buddhism judges the ethical value of wealth by the ways in which it is obtained, and the uses to which it is put.

Ven Payutto

Source: Buddhist Economics: A Middle Way for the Market Place

Contributed by: Siona