Introduction To Buddhist Economics: The Relevance Of Buddhist Values In Contemporary Economy And Society

Description

Living in a market-driven economy where short-term profit and economic growth appear to be the ultimate goal, this book explores how Buddhist teachings could bridge the divide between our spiritual and material needs and reconcile the tension between doing good for social interest and doing well for financial success. This book serves as a pioneering effort to systematically introduce Buddhist Economics as an interdisciplinary subject to audience with limited background in either Buddhism or economics. It elaborates some core concepts in Buddhist teachings, their relevance to economics, and means of achieving sustainability for individuals, society and the environment with the cultivation of ethical living and well-being. Through scholarly research from relevant fields including Buddhist studies, economics, behavioral finance, cognitive science, and psychology, this book illustrates the relevance of Buddhist values in the contemporary economy and society, as well as the efficacy of Buddhist perspectives on decision-making in daily life. Preface......Page 7 Acknowledgements......Page 10 Contents......Page 11 Abbreviations......Page 13 List of Figures......Page 14 List of Tables......Page 16 List of Boxes......Page 17 Introduction......Page 18 Part I: The Subject and Framework......Page 19 Buddhism: The Teacher, the Teachings, and Students......Page 20 Market Economy: Core Components and Mechanics of the Machine......Page 26 Canonical Review......Page 30 Alternative Visions and Paths......Page 31 Analysis of the Economic Arrangements of Buddhist Related Institutions......Page 34 Comparative Study......Page 36 Practical Strategic Models......Page 38 Chapter Summary......Page 40 Further Reading......Page 41 The Four Noble Truths......Page 45 Suffering: The Problem......Page 47 Cause: Origin of the Problem......Page 48 Cessation: Solution to the Problem......Page 49 Path: Practical Guide to Solve the Problem......Page 50 Chapter Summary......Page 53 Suggested Essay Topics......Page 54 Further Reading......Page 55 Part II: The Suffering......Page 56 Economics as a Subject: An Evolving Subject with Many Schools of Thought......Page 57 The Religion of the Market Economy: When Spirituality and Materiality Intersect......Page 60 What Is Wrong with the Market Economy: Human Values and Behaviors......Page 62 Chapter Summary......Page 66 Suggested Essay Topics......Page 67 Further Reading......Page 68 Part III: The Cause......Page 70 Profit Maximization: Spirituality Versus Materiality......Page 71 Economic Rationality: Consistency Versus Plurality of Human Motivations......Page 72 Moral Disengagement: Relevancy of Ethics and Values......Page 74 Limits of Markets: What Is Not for Sale?......Page 76 Can We Buy Well-Being and Happiness?......Page 79 Chapter Summary......Page 81 Required Reading......Page 82 Further Reading......Page 83 Part IV: The Cessation......Page 85 Pursuit of Happiness in Market and in Buddhism......Page 86 What Makes Buddhist Economics “Buddhist”?......Page 91 Comparison with the Market Economy......Page 92 Buddhist Economics as a Strategy and Way of Life......Page 95 Chapter Summary......Page 96 Required Reading......Page 97 Further Reading......Page 98 Buddhist Ethics and Moral Theory......Page 100 Three Cardinal Principles of Buddhist Theory of Moral Life......Page 103 Definition of Wealth......Page 104 Generation of Wealth......Page 105 Use of Wealth......Page 107 Chapter Summary......Page 108 Further Reading......Page 110 Wisdom: Knowledge of Phenomena as They Really Are......Page 113 Dependent Arising: Nothing Arises Alone Independent of Other Conditions......Page 114 Five Aggregates, Six Senses and the Notion of Self: Knowledge of Our “Self”......Page 117 Selflessness: Who Is Really There?......Page 120 Chapter Summary......Page 122 Study Questions......Page 123 Further Reading......Page 124 Beyond Competition: An Collaborative Model of Sustainable Development......Page 126 Dāna: The Practice of Giving......Page 129 Wake Up Together: From Personal Development to Social Development......Page 132 Chapter Summary......Page 136 Online Multimedia......Page 137 Further Reading......Page 138 Part V: The Path......Page 140 Less Is More: Frugality......Page 141 Steady-State Economy: Economics in a Full World......Page 144 Small Is Beautiful: Right Livelihood Based on Buddhist Ideals......Page 147 Chapter Summary......Page 150 Study Questions......Page 151 Further Reading......Page 152 Sustainability: Long Term Versus Short Term......Page 154 From Gross National Product to Gross National Happiness......Page 155 Sufficiency Economy......Page 160 Implementing Changes at Different Levels: Individual, Social, and Environmental......Page 161 Chapter Summary......Page 163 Suggested Essay Topics......Page 164 Further Reading......Page 165 Moral Discipline: The Five Precepts......Page 168 Mental Concentration......Page 172 Virtues: Non-greed, Non-hatred, Non-delusion......Page 175 Compassion for Others: The Buddha and Bodhisatta Ideals......Page 176 Chapter Summary......Page 179 Suggested Essay Topics......Page 181 Further Reading......Page 182 Buddhist Perspective on Effecting Sustainable Change......Page 184 Buddhist Economics in Business and Society......Page 186 Buddhist Economics and Environmental Protection......Page 190 Deep Ecology......Page 192 Envisioning a Sustainable Transformation......Page 193 Chapter Summary......Page 196 Required Reading......Page 197 Further Reading......Page 198 Index......Page 200