The Buddha considered economic welfare as a requisite for human happiness, but moral and spiritual development for a happy, peaceful and contented life.

A man named Dighajanu once visited the Buddha and said, 'Venerable Sir, we are ordinary laymen, leading a family life with wife and children. Would the Blessed One teach us some doctrines which will be conducive to our happiness in this world and hereafter?

Sometimes the Buddha even went into details about saving money and spending it, as, for instance, when he told the young man Sigala that he should spend on fourth of his income on his daily expenses, invest half in his business and put aside one fourth for any emergency.

Once the Buddha told Anathapindika, the great banker, one of His most devoted lay disciples who founded for Him the celebrated Jetavana monastery at Savatthi, that a layman who leads an ordinary family life has four kinds of happiness. The first happiness is to enjoy economic security or sufficient wealth acquired by just and righteous means (atthi-sukha); the second is spending that wealth liberally on himself, his family, his friends and relatives, and on meritorious deeds (bhogo-sukha); the third to be free from debts (anana-sukha); the fourth happiness is to live a faultless, and a pure life without committing evil in thought, word or deed (anavajja-sukha).

It must be noted here that first three are economic and material happiness which is 'not worth part' of the spiritual happiness arising out of a faultless and good life.

From the few examples given above, one can see that the Buddha considered economic welfare as a requisite for human happiness, but that He did not recognize progress as real and true if it was only material, devoid of a spiritual and moral foundation. While encouraging material progress, Buddhism always lays great stress on the development of the moral and spiritual character for a happy, peaceful and contented society.