Ethical Principles and Economic Transformation

Laszlo Zsolnai edit a book for Springer entitled "Ethical Principles and Economic Transformation: The Buddhist Approach. The book aims to give a comprehensive presentation of Buddhist economics as it has evolved in the last four decades. The book contains classic writings by Schumacher, Payutto, and Alexandrin as well as contributions by leading contemporary scholars like Richard Welford, Colin Ash, Apichai Puntasen, and others.

Buddhist economics is not only interesting for Buddhists or economists. Centered around the conception of no-self (anatta) and its ethical implications, it challenges the Western conception of organizing economic life. While the basic principles of Western economics are (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 minimizing suffering,  simplifying desires, non-violence, genuine care, and generosity. However, Buddhist economics does not want to create an economic system of its own. Rather it develops a strategy, which can be applied in different economic settings.  The book shows how Buddhist ethics and economics might work for individuals, firms, and communities both in the East and the West. It is not about the economics of Buddhist countries.  Rather presents a fresh alternative view on how to achieve peace, sustainability and happiness in our fast deteriorating, interconnected world. Buddhist Economics contents.pdf