But the rich spend less probably not exceeding 5% of their incomes, though the amount of money is larger.
This means that savings and investments is economic activities, i.e. economic motives, are not lacking. Buddhism teaches people not to be greedy, but at the same time one has to crry out one own life in a rational way. During economic downturn of 1990 Buddhism provides a way out to the thai rural people. One has to be content and satisfied with one lots. Thouse who work in the cities lost their jobs and returned to thrir hometowns. They have managed to live in a simple way and have not lost their faith and hope to have a better life economically again. They will certainly go back to work again if the economic conditions are favorable. Buddhism, therefore, is not a hindrance though not a direct stimulation for economic development. It teaches people to live in a simple life and be satisfied with all they have got. Anyway, I am not saying that village people are all happy. What I am trying to say is that the rural economic niche helps to lessen the hardship of the life of people. In the village, people do have “ social capital“, to use the term coined by the world bank, to maintain at least a minimum level of living standard. That is they can, at least, survive during the period of economic downturn.