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Published on April 10, 2008

Before capitalism came to Asia, Buddhism had been here for more than 2000 years. Intellectuals have often questioned whether the two can really co-exist. This debate took centre stage last Friday at Thammasat University,

concluding that no middle path is in the offing.

More likely, the academics said, is that despite the increasing amount of "loving kindness" exhibited through corporate social responsibility initiatives, the globalised profit quest is likely to crumble, due in no small part to the growing number of people practising a simple Buddhist lifestyle.

"You and I may not live to see it, but there is no other way," Dr Suvinai Paranavilai, Thammasat's professor of economics, said. "Capitalism has taken far too much for too long, so now we're facing major catastrophes like global warming.  Spirituality will help people find an integral new path of living that is more sustainable to replace it."

In reaching this conclusion, the experts said capitalism and Buddhism have one thing in common - both are responses to manage a core element of human nature - tanha or desires.

"But while capitalism feeds into the tanha to satisfy it and create the next tanha, Buddhism stresses that we need to reduce, and eventually get rid of it," Phra Wutthichai Watcharamethee, director of the Buddhist learning centre Vimutta Institute, said.

Banyong Pongpanich, chief executive of Patara Capital, argues that desire drives progress, the benefits of which we cannot ignore. Moreover, capitalism's competition mantra is merely a reflection that humans are hardwired to be self-centred and self-interested.

"Not necessarily," sociologist Witayakorn Chiangoon said. "Humans are not always selfish because of our natural instinct to preserve the species. Religions explain this through practices like making merits, loving and giving. In the end mechanisms for group survival are critical, as we know nobody can live alone."

Phra Wutthichai said it is all about how we manage our desires.

"Desire for things, once satisfied, breeds higher levels of desire and the market knows this all too well," the monk said. "That's why today's marketing strategies are to promote consumption beyond the actual value of goods. They make us consume the brand and image to defy who we are. In Buddhism, we call it the consumption of illusion." 

Conversely, he said, one can channel raw desire into positive energy for learning and striving for wisdom to find ways to liberate oneself from living to consume.

Sociologist Witayakorn agreed, citing examples of the growing number of intentional communities springing up worldwide all based on principles of co-operation and environmental stewardship in the production and consumption cycle, not material or wealth accumulation.

Phra Wutthichai said we are in

an era of intensification of both

capitalism and Buddhism. Capitalism now governs most of the world

with the help of corporate globalisation and information technology

and Buddhism is now spreading wider and faster than any time in recent history.

"I've given talks in the most diverse places and to more diverse audiences than I can imagine: from palaces, to corporate offices; in TV talk shows to peasant protest sites," Phra Wutthichai said. "I'm not alone and Thailand's not alone. I dare say no monk would go hungry even in western countries like the US, Europe and Australia."

To Phra Wutthichai, Buddhism is seen as a welcome refuge to a growing number of people, especially among the urban middle class, who feel material consumption fuelled by corporate marketing and advertising is not the path to sustained happiness.  

Ironically, the monk said, if anyone is to learn the true substance of Buddhism, they are most likely to learn it outside temples. Buddhism in Thailand as an institution is on the decline with monks themselves more interested in collecting material wealth and climbing the ladder of decorative titles.

But these monks are joining a tide that is ebbing, economist Suvinai said. To him it is not the matter of if, but when corporate capitalism will be brought down by the concerted effort of learned men.

"I'm speaking an inconvenient truth that capitalists may find hard to accept," he said.

Nantiya Tangwisutijit

The Nation