Buddhist economics for business

Abstract

The paper explores Buddhist economics for transforming business toward a more ecological and human form. Buddhist economics is centered on want negation and purification of the human character. It challenges the basic principles of Western economics, (i) profit-maximization, (ii) cultivating desires, (iii) introducing markets, (iv) instrumental use of the world, and (v) self-interest based ethics. Buddhist economics proposes alternative principles such as (I) minimize suffering, (II) simplifying desires, (III) non-violence, (IV) genuine care, and (V) generosity. Buddhist economics is not a system but a strategy, which can be applied in any economic setting. Buddhist economics provides a rational, ethical, and ecological value background, which promotes happiness, peace and permanence. © 2009 Springer Netherlands.