Buddhist economics

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Buddhist economics is a set of economic principles that is based on the belief that individuals ought to do good work in order to ensure proper human development. The term was coined by Ernst Schumacher in 1955, when he travelled to Burma as an economic consultant for U Nu. It is used almost exclusively by followers of Schumacher and by certain Theravada Buddhist writers such as Prayudh Payutto and Phrabhavanaviriyakhun.

This view of the proper relation between work and value is similar to that professed by American novelist-poet-farmer Wendell Berry.

External link

• [Buddhist Economics: A Middle Way for the Market Place] by Prayudh Payutto

 

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