Abstract

When writing about Buddhism, much attention is paid to Buddha’s Four Noble Truths: Life is suffering; Suffering is caused by craving and attachment; Suffering can be overcome by achieving non-attachment; the means to achieving non-attachment is to follow the Eight-Fold Path. Herein, the focus is on the Fourth Noble Truth, the following of Buddha’s Eight-Fold Path, which is the means to achieve the penultimate goal of Buddhism, non-attachment. Non-attachment is primarily aimed at developing non-attachment to personal cravings, to egoistic desires. The purpose of the non-attachment is to free the self to experience the feeling of compassion for all sentient beings and to take action on that universal compassion to relieve the suffering of all sentient beings. In contemporary parlance, the phrase, all sentient beings can be taken to stand for our global environment, its inhabitants and future generations. Non-attachment thus is not equivalent to detachment.Hidden in the practice of the Eight-Fold Path is the key to Buddhist economics, the Eighth path, the path of Right livelihood. In order to fully implement compassion, the economic path must be rightly chosen. One cannot achieve the goal of universal compassion, that is, the relief of suffering throughout the world, without the proper economic path, designated by the term, Right livelihood. Right livelihood will be the subject of this chapter’s inquiry. In Mahayana Buddhism, one cannot achieve spiritual enlightenment until everyone in the world achieves spiritual enlightenment. When one takes Right livelihood into account, herein also referred to as Buddhist economics, one cannot achieve Right livelihood until everyone in the world achieves Right livelihood and the effects of Right livelihood, the elimination of suffering are universally distributed. The concept of Right livelihood is to be understood as the practice of economic activity that is directed to the elimination of suffering in its most urgent cases, that is, in the most indigent people and places in the world.