Wednesday, February 11, 2009

Buddhist Economics vs Western Economics

Buddhist Economics: A Comparison of Buddhist and Northern Attitudes Towards the Economy

Buddhist

Western

Labour

Seek right to livelihood in order to develop one’s faculties and to contribute to society in a way that reflects well on oneself.

A disutility, to be eliminated (the employer wishes output without workers; the employee, income without work).

Leisure

Is complementary to work; both are necessary.

Leisure is preferable to work.

Technology

Tools are to help humans do creative work.

Technology is a means for abolishing human work.

Trade

A sign of local economic imbalance and failure.

A sign of economic progress.

Goal of Life

To perfect one’s character through good work which nourishes the spirit.

To accumulate wealth to satisfy unlimited wants.

Unemployment

Is unacceptable; all who want jobs should have them; mothering is a socially-esteemed profession.

Is tolerable; one who is not employed is probably lazy; mothering is not socially useful work, since it is not paid.

Nature of Work

Should be simple, non-violent, sparing of resources, uses local materials, and provide satisfaction.

Is energy consuming, high pressure, competitive, anxiety-creating; often employs imported materials.

Quality of Life

Consumption is incidental to living; attachment to wealth interferes with satisfaction; one’s role is to blend with the environment, to protect it and to revere life.

Consumption levels measure standard of living; nature is to be conquered and controlled; one should consume whatever comes to hand – one is a fool not to.

Material Goods

Should be simple, long-lasting, beautiful, unique, and as few as possible to live well.

Should be complex, mass-produced, cheaply made, short-lived, and as numerous as possible.

[Source: Excerpt from Clark, M. E. (1989). Ariadne’s thread: The search for new modes of thinking. (p. 146). Basingstoke, UK: Macmillan.]


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