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Budhist Economics



Translation of selected chapters form the book Buddhist Economics: Evolution, Theories and Its Application to Various Economic Subjects

by Professor Apichai Puntasen.

It examines the psychology of the human mind and the anxiety,aspirations and emotions that direct economic activity. Its understanding aims to clear the confusion between what is truly harmful and beneficial in Economics and ultimately tries to make human beings ethically mature.[2] It tries to find a middle waybetween a purely mundane society and an immobile conventional society.[3]It says that truly rational decisions can only be made when we understand what creates irrationality. When people understand what constitutes desire, they realize that all the wealth in the world cannot satisfy it. When people understand the universality of fear, they become more compassionate to all beings. Thus, this spiritual approach to Economics doesn't rely on theories and models but on the essential forces of acumen, empathy and restraint.[2] The Buddhist point of view intents at giving work a trinal function: to give man a chance to utilize and develop his aptitude; to enable him to overcome his self-aggrandizement by engaging with other people in common tasks; and to bring forward the goods and services needed for a better existence.[4] From the perspective of a Buddhist, Economics and other streams of knowledge cannot be separated. Economics is a single component of a combined effort to fix the problems of humanity and Buddhist Economics works with it to reach a common goal of societal, individual and environmental sufficiency.


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