Buddhist Economics: Relating Skillfully to Wealth

Reading more of Ven. P. A. Payutto's book on Buddhist Economics, someone pointed out to me the following which seems particularly important:

In the Suttas, the Buddha stresses four areas in which householders may relate skillfully to wealth [D.III.188; A.V.176-182]:

Acquisition -- Wealth should not be acquired by exploitation, but through effort and intelligent action; it should be acquired in a morally sound way.

Safekeeping -- Wealth should be saved and protected as an investment for the further development of livelihood and as an insurance against future adversity. When accumulated wealth exceeds these two needs, it may be used for creating social benefit by supporting community works.

Use -- Wealth should be put to the following uses: (1) to support oneself and one's family; (2) to support the interests of fellowship and social harmony, such as in receiving guests, or in activities of one's friends or relatives; (3) to support good works, such as community welfare projects.

Mental attitude -- Wealth should not become an obsession, a cause for worry and anxiety. It should rather be related to with an understanding of its true benefits and limitations, and dealt with in a way that leads to personal development.

The teachings from a monk in Thailand are particularly interesting since Thailand was not subjected to the western colonialism that modified some of the thinking about Buddhism and economics in other Southeast Asian countries. Ven. Payutto's book is also refreshing because he doesn't try to advocate for a specific economic system (such as Socialism, Communism, Capitalism, Feudalism/Manorialism, etc.) but instead talks about the ethical issues surrounding economic decisions.

I would highly recommend his book, especially to American Buddhists who probably haven't heard of any of the suttas that he mentions or quotes.