Buddhist economics is a spiritual and philosophical approach to the study of economics. The term is currently used by followers of Schumacher and by Theravada Buddhist writers, such as Prayudh Payutto, Padmasiri De Silva, and Luang. which became a landmark book for alternative economics (see also below). 3 P.A. Payutto,. Buddhist Economics; A Middle Way of the Market Place., Bangkok . Schumacher’s seminal book “Small is beautiful” on Buddhist Economics () (Payutto , Puntasen , Sivaraksa ) as well as by Buddhists in.

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For example, the millionaire Anathapindika is said in the Commentary on the Dhammapada to have spent a large amount of money every day to feed hundreds of monks as well as hundreds of the poor. In this striving they sometimes create that which payuutto of benefit, and sometimes destroy it.

A person who produces very little in materialistic terms may, at the same time, consume much less of the world’s resources and lead a life that is beneficial to the world around him. Of all the spiritual traditions, Buddhism is best suited to this task.

It shows how Buddhism shares with economics the view that the wants of humanity are endless. Buddhism, on the payutti hand, offers a clear and consistent picture of human nature: So King Mandhatu began to plot to kill Lord Indra and depose him. Buddhist economists do not believe in measuring standard of living by the amount of consumption because according to them, obtaining maximum well being as a result of minimum consumption is more important than obtaining maximum well being from maximum consumption.

Danger and darkness surround them. There is a belief that any method used to attain a worthy end is justified by the worthiness of that end. bkddhist

Buddhist economics

Early humans, and the first societies, were probably bound together more by their deep emotional needs for warmth and security than any rational planning.

We might find ourselves in fact byddhist Buddhism with the language and concepts of Western economics. Given the twofold meaning of the term Dhamma, it follows that an economics inspired by the Dhamma would be both attuned to the grand sphere of causes and conditions and, at the same time, guided by the specific ethical teachings based on natural reality.


The job of economists is to devise well-reasoned models to help society rise above fear, greed and buddhhist.

As long as their livelihood does not exploit others, however, Buddhism does not condemn their wealth. Although many believe payktto science can save us from the perils of life, it has many limitations.

Unfortunately, as it stands, economics is grossly out of touch with the whole stream of causes and conditions that constitute reality.

The goal of moderation is not restricted to monastics: Obviously, the goods consumed in these two different societies will lead to different social and economic results. Buddhism, however, distinguishes between two kinds of consumption, which might be termed “right” consumption and “wrong” consumption.

Buddhist Economics: A Middle Way for the Market Place

In this all-encompassing sense, Dhamma expresses the totality of natural conditions, that which the various branches of science seek to describe. The very concept of “progress” — social, economic, scientific and political — assumes that society’s highest goal is to reach a state where everyone will be happy.

The way tanha works can been seen in the basic need for food.

Ethical qualities also influence industrial output. Ultimately, economics cannot be separated from Dhamma, because all the activities we associate with economics emerge from the Dhamma.

Buddhist economics – Wikipedia

The initial goal is reasonable material comfort and economic security. But is it in fact desirable to look on economics as a science? If economists were to stop evading the issue of moral values, they would be in a ecoonmics position to influence the world in a fundamental way and to provide solutions to the problems of humanity and the world at large.

Now, one of the King’s treasures was pwyutto cakkaratanaa magic wheel that could transport him anywhere he wished to go. In other words, Buddhist economists would not only consider the ethical values of economic activity, but also strive to understand reality and direct economic activity to be in harmony with “the way things are. Bhutan ‘s King Jigme Singye Wangchuck and its government have promoted the concept of ” gross national happiness ” GNH sincebased on Buddhist spiritual values, as a counter to gauging a nation’s development by gross domestic product GDP.


Even so, in the course of this book, I hope to at least provide some Buddhist perspectives on things that can be usefully employed in economics.

He conferred with his attendants and was informed of the superior enjoyments of the Tavatimsa Heaven realm. To sum up, harmful actions associated with wealth can appear in three forms: Work performed in order to meet the desire for well-being can provide inherent satisfaction, because it is appreciated for its own sake. Although ethical questions, they all have economic ramifications.

Knowledge and its application, the direct results of his work, are not really what he desires; they are merely the means through which he can ultimately obtain money and position. Is it a skillful or an unskillful one? For the most part, these decisions are motivated by an emotional urge for self-preservation. Independent happiness, on the other hand, is the happiness that arises from within a mind that has been trained and has attained some degree of inner peace.

The serious environmental repercussions of rampant consumerism have compelled economists to develop more ecological awareness. Schools of economic thought. From an ethical perspective, your reading is a good action, you are motivated by a desire for knowledge. Production, consumption and other economic activities are not ends in themselves; they are means, and the end to vuddhist they must lead is the development of well-being within the individual, within society and within the environment.

Among buddhiat Buddha’s lay disciples, the better known, the most helpful, and the most often praised were in large part wealthy persons, such as Anathapindika. One-sided scientific solutions are bound to fail, and the problems bound to spread.