Of course, there is no possibility for happiness if one cannot even sustain the basic needs of life. But once an average living standard can be maintained, one must learn to keep life simple, that is, to live contently with fewer desires. If not, happiness will forever be beyond one’s reach.

- Quote from The Right View, "A Buddhist’s Mode of Life"

For example, some people believe that wearing designer clothes, driving an expensive car and living in a luxurious mansion symbolize their high social standing. However, this is in fact what the Buddha meant by self-indulgence because these objects are not necessities. People can never be fully satisfied with their lives if they do not know how to control their desires, as desires can grow and expand endlessly. No matter who you are, there will always be someone who is better than you. If your aim is to get to the top social stratum, your whole life will be spent in the pursuit of such vanity until the end. The consequence of chasing endless desires is never to be happy.

- Quote from The Right View, "A Buddhist’s Mode of Life"

 Because other than a few exceptions, most people must expend a great deal of time, energy and planning to obtain material wealth, which in the eyes of the Buddha is not worth the effort. His view is that Dharma practitioners should be content with a life of fewer desires. To be content with fewer desires is the principle set by the Buddha that we should adhere to in our daily life, but what it means to accomplished practitioners like Milarepa, to monastics in general and to laypeople varies accordingly.

- Quote from The Right View, "A Buddhist’s Mode of Life"

However, when people do become wealthier, their level of happiness has not grown with the improvement of their living conditions. For instance, many well-developed countries in the West, such as those in Scandinavia, have instituted very extensive social welfare systems for their citizens. Almost everything they need in life is provided, but the suicide rates in those countries were surprisingly high at one point. According to the data from the World Health Organization in 1994, the suicide rates of the Scandinavian countries all ranked in the top 10 on their list. Apparently, to the Scandinavians, material wealth was not as important as we thought. Although the standard of living in general is much higher in the West, many people there are not happy. This is but one indication of material wealth not being in direct proportion to happiness.

- Quote from The Right View, "A Buddhist’s Mode of Life"

Everyone is seeking a happy life, yet all seem to be experiencing unhappiness of one kind or another. More and more people realize that having more money and possessions is no guaranty for more happiness. This truth has been well elucidated in the Buddhist texts, which the economists and psychologists in the West only found out now.

- Quote from The Right View, "A Buddhist’s Mode of Life"

In Nagarjuna’s Letter to a Friend, it said that, according to the Buddha’s advice, being content with fewer desires is the greatest asset that one can have. Those who are able to maintain such disposition are truly rich people even if they do not own a single asset, because only they can attain the ultimate, perfect happiness.

- Quote from The Right View, "A Buddhist’s Mode of Life"

In some poor regions, people lacking basic subsistence are far removed from life of material prosperity elsewhere. And everyone there wants desperately to escape from poverty, thinking that everything will be taken care of once they have money. Although we all know that we cannot take anything with us when we die, we still try very hard to get closer to the kind of life that money can buy, just so that we may have a happier life before we go. 

- Quote from The Right View, "A Buddhist’s Mode of Life"

Nagarjuna used the following analogy to describe man’s desire in the treatise entitled Letter to a Friend (Suhrlekha). People who suffered leprosy, a disease caused by bacteria, would feel extremely itchy and painful when the symptoms flared up. In order to alleviate the pain, many lepers would go very close to the fire. The bacteria being stimulated by the heat then became much more active and made the patients suffer even more. This analogy actually hints at man’s desire. We have always thought that money can buy us happiness and so we strive all the time to make more money. But the truth is that being rich often makes us even more miserable.

- Quote from The Right View, "A Buddhist’s Mode of Life"

As a matter of fact, it is an extremely rare opportunity that we were born human, have encountered the teachings of the Buddha and had some time to practice. No other things in the world are as extraordinary as such opportunity. In our countless past lives, we must once have enjoyed great wealth and high esteem that made others envious and might even have owned the most precious wish-fulfilling jewel (Cintamani). The same will happen in the innumerable future lives as well. But all those did not make us any better off today.

- Quote from The Right View, "A Buddhist’s Mode of Life"