BUDDHIST ECONOMICS

WHAT? HOW? FOR WHOM?

Buddhist Economics is centered around simplicity. Participants in this system would produce and consume only the things deemed necessary to survive. They would implement solar, wind and hydroelectric technology to power the society. The environment and the people would benefit from this environmentally conscious system!

WHAT DOES IT MEAN FOR A BUDDHIST ECONOMY TO BE SUCCESSFUL?

The Buddhist Economy is revolutionary in the fact that work is meant to be meaningful and creative, not stressful. This system is successful when it is able to focus on the health and spiritual well being of the individual as well as the economic goals being fulfilled. Buddhist economics is not based solely on the goods it produces and consumes, and it affects the life of the individual greatly

ADVANTAGES

• Less stress on individuals
• Resourceful - helps long term
• Focus on purifying self
• Non-violence

DISADVANTAGES

• No economic growth
• Only works for small populations
• No contribution to international economy

TRANSPORTATION

• Bus or train
• Traveling as a community
• Working for the common good

ORIGINS

• not actually in practice
• Small is Beautiful: Economics as if People Mattered by E. E. Schumacher

COMPARISON WITH US

• not focused on material gain
• increased consumption does not lead to increased wellbeing
• not driven by self interest
• no self v. the invisible hand
• desire for sustainability

BUDDHIST ECONOMICS AND HUMAN NATURE

• ability to remove/"overcome" self and desire
• not essential to human nature optimistic
• values emotional and intellectual over economic growth

WELL

• Economic freedom-choice
• Economic equity
• Economic security-system based off good quality of life
• Sustainability

LESS WELL

• Economic Growth-enables people to have more goods and services
• Economic effiency-don't use the cheapest but what is best for simplicity and non violence
• Price stability

Describe how the members of a Buddhist economy might view nuclear power:
It would depend person by person, they would like that reduces carbon emissions but there is no way to deal with the other waste it creates.