Buddhism and economics

Buddhas aren't in the business of teaching how to be happy. Sorry.

The real deal is concerned with freedom from circumstances, including the ones you're particularly worried about. As it just so happens, this freedom typically brings a kind of happiness but it's only the perfume of the main game.

Work on yourself. This will help others immeasurably.

I believe this market based economist who are highly influenced by the capitalist nature basically they come from a University where these things are taught to them and their brains are programmed in that way and these people are taken as advisors to the government and they provide the solution of higher consumption in the economy higher consumption is the main evil, though for a short period of time higher consumption could lead to higher economic growth but in long run it destroys the basic human nature, consumers become monsters and they want higher consumption at any cost and if consumers are unable to afford it they are provided with credit cards, so borrow more and more to consume and ultimately people loose their peace of mind with such high level of debt and what is the cause of this suffering? Its higher consumption!!

"In the Buddhist view, when consumption enhances true well-being, it is said to be successful. On the other hand, if consumption results merely in feelings of satisfaction, then it fails. At its worst, consumption through tanha destroys its true objective, which is to enhance well-being. Heedlessly indulging in desires with no regard to the repercussions often leads to harmful effects and a loss of true well-being. Moreover, the compulsive consumption rampant in consumer societies breeds inherent dissatisfaction. It is a strange thing that economics, the science of human well-being and satisfaction, accepts, and indeed lauds, the kind of consumption that in effect frustrates the realization of its own objectives.

By contrast, right consumption always contributes to well-being and forms a basis for the further development of human potentialities. This is an important point often overlooked by economists. Consumption guided by chanda does much more than just satisfy one's desire; it contributes to well-being and spiritual development. This is also true on a global scale. If all economic activities were guided by chanda, the result would be much more than just a healthy economy and material progress -- such activities would contribute to the whole of human development and enable humanity to lead a nobler life and enjoy a more mature kind of happiness."

~ Bhikkhu P.A. Payutto "Buddhist Economics: A Middle Way for the Market Place" https://www.urbandharma.org/udharma2/becono3.html

This is not directly related to economics but Buddha's Ten Royal Qualities (Dasa Raja Dharma) is an excellent guidance to handle a country and thereby the economy as well.

Check this link to get an idea: THE CURRENT RELEVANCE OF DASA RAJA DHARMA

Here's a very brief extract/summary from that article:

The promise of dasa raja dharma (ten principles of Buddhist governance) has been a trademark emotional appeal that our rulers have used to win elections.

1. Dana -- Liberality, generosity, charity.
2. Sila -- a moral character.
3. Pariccaga -- sacrificing everything for the good of the people.
4. Ajjava -- honesty and integrity.
5. Maddava -- kindness and gentleness.
6. Tapa -- austerity of habits.
7. Akkodha -- freedom from envy, ill-will, enmity.
8. Khanti -- patience, forbearance, tolerance, understanding.
9. Avihimsa -- non-violence, which means not only that he should harm nobody, but that he should try to promote peace by avoiding and preventing war, and everything which involves violence and destruction of life.
10. Avirodha (non-opposition; nonconfrontation) as they are related though not the same.