Business & Buddhist Ethics

I chanced upon this interesting ebook titled "Business & Buddhist Ethics"  by Subhavadee Numkanisorn. It was published in 2002 if I'm not mistaken.

Basically, it talks about applying Buddhist teachings and ethics in business.

Excerpts from the book:

Buddhism gives freedom to everyone in seeking wealth and making profit, provided it is done in the right way. It is how the wealth is gained and utilised that matters. On the other hand, consumption or economic prosperity are not goals in themselves, but the ground for human development, for helping human beings achieve a better quality of life and attain something of higher value. The creation of economic prosperity is an important task, but economic progress and prosperity must be related to the goal, to lead to a quality of life that prepares people to develop their potential, to create, or practice for, a wholesome life.

1. Seeking wealth: seeking wealth rightfully

2. Using wealth:
  - to support oneself (and one’s dependents)
  - to share with others
  - to contribute to beneficial and meritorious activities

3. Attitude toward wealth obtained: not to be infatuated with wealth, but utilize it mindful of its advantages and disadvantages, to have a mind that is free and to use wealth for further spiritual and intellectual development.

Next is the interesting part is on the business level, if you are a business owner. There's a section on "The solution of ethical problems in business".

1. PRODUCTION

Production in economics means transforming things, in one form into something else. This process almost always involve destruction. Destroying certain things in it's natural for to transform it into something of value in the economic sense. Some types of destruction is acceptable, some not, and others are forbidden. For example, if the process results in pollution or poisoning the environment and its inhabitants, it is unacceptable.

The products itself, although not destructive in the production stage, should not be destructive in it's usage, such as weapons, poisons, etc. So, we must be mindful of production that promotes quality of life, and those that destroys it.

2. LABOUR

There are bound to be conflicts between employer & employee. Employees who are selfish will think that they are unfairly treated and compensated, while employers who are selfish will exploit their employees to maximise profits. The Buddhism solution is to find a middle ground, a meeting point:

Employers should support their workers by:
1) assigning work that is suitable according to physical strength, gender, age, and ability;
2) giving a wage according to the work assigned and cost of living;
3) providing welfare, such as health care in time of illnesses;
4) sharing any extra benefits with them;
5) allowing days off for rest as appropriate.

Employees should respond to this support by:
1) starting work before their employer;
2) finishing work after their employer;
3) taking only what is given by the employer and being honest;
4) striving to improve their work;
5) spreading the virtues of their employers and businesses.

Understanding and meeting each other's needs are important because each party need the other.

3. MARKETING / SELLING

There are 5 types of goods that are forbidden by Buddhism:
1. trade in weapons of destruction such as spears, swords, guns, etc.
2. trade in human beings;
3. trade in livestock and meat;
4. trade in intoxicants;
5. trade in poisons.

I think those examples are self explanatory.

The use of deceptive marketing and advertising causes trouble for other people and should be refrained. Bringing together the principles and teachings dealing with commerce in Buddhism, we can conclude that business dealings according to Buddhist ethics must accord with Right Livelihood, exploiting neither oneself nor others.

4. PROFITS

Can a businessman who seeks maximum profit be a good Buddhist? 

Buddhism has never condemned a millionaire simply for being a millionaire, because wealth achieved justly through hard work is not something to be condemned. By this token, if a businessman is ready and able, he may seek wealth or profit, then rightfully store it and accumulate as much as he can, as far as his/her potential allows. To seek maximum profits within the bounds of fairness and morality is not against Buddhist ethics, as long as it is achieved that profit maximization means a fair maximum profit, one obtained through a pure process, a profit gained through a commercial system which has been created efficiently without exploiting or violating others.

Well, that's about the gist of it.

Incidentally, there's a section on the duty of the state:-

The duty of the state

In Buddhism there is also mention of principles of government. For instance, one of the duties of an emperor is to share wealth to the needy. Buddhism recognizes the importance of wealth in worldly society. Poverty and need are important causes of crimes and social evils, and it is considered the responsibility of the state or government to look after and apportion wealth to poor citizens and to remove poverty from the land. To do this, many methods are required, in keeping with each situation, especially creating opportunities for the people to pursue honest livelihoods, giving career support, allocating funds and equipment, as well as preventing and controlling unfair and wrongful methods, exploitation, etc. We can see from the Buddhist viewpoint that the state has a major role in the economy, unlike the economics of liberalism in which the state has only a minor economic role.

“Health is the greatest gift, contentment is the greatest wealth”