When examining the world-view of most Buddhist cultures, it becomes difficult to determine how these belief-systems justify the rapid economic growth that many of these countries are experiencing. In many ways the Buddhist ethic rejects materialism as another illusion of Samsara . At the same time the ethic of compassion dictates that if possible all members of a community maintain the same standard of living.
According to many social theories many Asian religions are so opposed to materialism that Max Webers refers to them as "world renouncing". Since the world is considered illusionary it is incorrect for devout Buddhists to take a part in the affairs of society. Many Theravada monks reject social activism for that reason.
This approach to worldly affairs is rejected by Mahayana tradition. The ethic of the< Bodhisattva is directly contrary to this notion. The teacher responds to the suffering of the world with compassion and action. This is likely the reason that many look to the Bodhisattva Kuan-Yin for aid through economic and natural disasters.
In business matters, Buddhists routinely reject what Petrich refers to as "Big Think" (7) economic matters. Preferring instead business strategies that reflect the cultural integrity, and benefits of economic development.
In many ways though, Buddhism outlines the responsibilities of government. It should meet the basic physical needs of its citizens, eliminate violence, and regulate the even distribution of goods. In this manner social order will ensure moral order.
This information is excerpted from an excellent article on development and Buddhist culture written by Martin H. Petrich, from Munich Germany.