Happiness, Contentment, Wealth Creation and Sustainable Development

How wealth is created is the subject matter of Economics. On the other hand, values, morals and ethics are often relegated to the domain of religion. The question this paper addresses is whether religion and its teachings on ethics and morality can influence the economic mechanisms through which needs are satisfied? Can the current single-minded pursuit of economic growth and materialism be reformed to serve social and environmental needs? To address these issues, this paper contrasts the current development paradigm with alternative paradigms. Many alternate development models are now beginning to recognize the importance of morality and the inner virtues of mankind. Among these alternative paradigms, the Sufficiency Economy Philosophy (SEP) promulgated by the King Bhumibol of Thailand based on Buddhist principle of Middle Path bears special promise. It conceives a development process that can satisfy the overall needs of this as well as future generations contributing to prosperity, stability and overall happiness