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.
Author(s): Ernest C. H. Ng
Series: Studies In Buddhist Economics, Management, And Policy
Publisher: Palgrave Macmillan
Year: 2020
Language: English
Pages: 208
Tags: Cultural Economics
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
