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This paper explores the adaptations Buddhism has made to digital payment methods in the context of the Chinese mainland. To provide the audience with a relatively comprehensive understanding of the general context in which the new method of donation is applied, this paper first introduces the development and digital landscape of the internet and third-party payments in the Chinese mainland. Then, statistical analysis is used to make large-scale claims by analyzing 1328 donation records made to Donglin Monastery in Mount Lu with the statistical software SPSS to determine whether the digital donation method is linked to the purpose of donations, or the amount of money being donated, and to what extent it substitutes for traditional donation methods. [ABSTRACT FROM AUTHOR]

The main aim of the study is to show that a method developed in the context of Buddhist culture (GNH of Business), which measures the happiness and well-being of employees in business and the organisational conditions for this, can be applied in other cultural contexts. The research adapted the logic and computational method of the original questionnaire survey (developed in Bhutan, GNH of Business) to a Central Eastern European country. All business education faculties/institutes of higher education institutions were involved in the quantitative research. The results of 239 employee and 14 manager questionnaires show that the method is fully applicable in Christian cultural contexts. The value of the happiness index of higher education institutions in the field of economics is below the average level. The biggest deficiencies are in the area of 'Quality of Life', while the indicators for 'Cultural and Ecological Diversity' need serious improvement in terms of organisational conditions. This research is the first to apply the GNH of Business calculation method outside Bhutan, demonstrating its validity in practice in European countries. [ABSTRACT FROM AUTHOR]

The article substantiates the thesis about the effectiveness of the traditional economy not only in the past but also in the present. Examples of the development of traditional economies in India, China and Russia are given. The author highlights the following advantages of the traditional economy: regularity of the labour process, lack of profit maximization, low level of competition, natural exchange, trusting relationships, lack of stress, etc. It is suggested that the traditional economy will retain its relevance in the information society, which is associated with new solutions to the problem of free time.

This article explores how vendors of Buddhist goods, which are traditionally associated with death and funerary rites in Japan, have responded to religious decline by venturing into alternative spirituality, wellness, and home décor markets. Drawing on ethnographic fieldwork within Buddhist goods stores, I examine how retailers and artisans have begun re-orientating their business models and product lines from caring for the dead at acute moments of spiritual transition to caring for the living in their everyday conditions of loneliness and stress. By pushing products that generate affects of healing (iyashi) and a calm heart (kokoro), these actors forge a new corporate–spiritual philosophy and religious consumer subjectivity and, in so doing, seek to defend their market share and social relevance in an age of secularism, disconnection, and precarity. However, for commercial actors, the space between religion and spirituality can be surprisingly treacherous and this transition challenges their skills of 'affective retailing'. [ABSTRACT FROM AUTHOR]

The dialectical interplay of agency and structure is a key part of Socially Engaged Buddhist Economics. It has been present in economic discourse over the last several decades, particularly in heterodox approaches that view economics from historical and sociological perspectives. In this article I join the discourse with a new approach by integrating aspects of pragmatism, institutional economics, process metaphysics, and Buddhism. The basic ideas underpinning this integration are (a) that both agent and structure are emergent phenomena and (b) that agency can be seen in a more comprehensive way through the lens of George H. Mead's conception of the "social self." Mead's social self is split into a bipolar model of the subjective I and the objective me. Together these ideas are combined into a single framework of agent, structure, I, and me (ASIM) with implications for ethics as well as Buddhist economics. [ABSTRACT FROM AUTHOR]

During the last few decades, it is observed that the economics and the ecology of the farming landscapes are not moving in the right direction. Farmers are facing many challenges as the cost of food production is escalating but crops are not sold at profitable prices. Even capital intensive chemical farming has a role in environmental degradation and adversely affected human health. These issues are identified as the root cause of various social and ecological problems. In such circumstances, cultivation of ecological consciousness based upon the basic principles of socio-ecological sustainability is emerging as the greatest need of the hour. The middle way path of lord Buddha illustrates the psycho-spiritual perspective of environmental conservation, sustainable development, and peaceful co-existence. It emphasizes community-driven mechanisms for inclusive dialogue, contemplation, meditation, and conflict prevention. With the help of a case study, this work highlights the role of Anupashyana Farming in ensuring the socio-economic well-being of participating farmers. It is an integrated farming approach that combines Buddhist ecological values, principles of Buddhist Economics, the role of social capital in rural transformation, and digital agriculture services.

The concept of Buddhist economics is gaining increased appeal in a world where external (global) factors are once again becoming more of a handicap than a deliverance. A Buddhist economy is a return to the long-established values of agricultural production that has the capacity to take into account the experience and achievements of the industrial and post-industrial economy. Care for the environment, personal development, community development, especially spiritual development -- these are the priorities of the Buddhist economy. In particular, agricultural production is the most convenient means to achieve these goals. However, Buddhist economics are not a rejection of the achievements of modern and postmodern society -- they attempt to use these experiences and achievements in the fashioning of a more intelligent and effective implementation of the goals of the economy, which were defined by Aristotle. The rational model of economic management according to these views consists of thrifty but full consumption and restrained production with environmentally friendly objectives. [ABSTRACT FROM AUTHOR]

While consumers increasingly expect fashion companies to be bastions of social and environmental causes, they also aspire for fashion in ways known to erode human well-being, evidencing an ethics–behavior gap. The purpose of this conceptual article is to explore how Buddhist economics (BE) and mindfulness could narrow this gap; a spiritual consciousness making consumer ethics more consequential. Classical economic theory is contrasted with BE, a moral framework, including moderation and nonviolence. Mindfulness practice is explored as a practice used to temper consumption. It is concluded that on the topics of human nature, self-identity, and the role of possessions, fashion epitomizes human suffering, from a Buddhist standpoint. This article's contributions include educational guide points for consumers, a proposed definition of mindful clothing consumption, and identification of theoretical blind spots in fashion consumer behavior research considerably in need of attention to better understand the relationship between clothing and human well-being. [ABSTRACT FROM AUTHOR]

The subject matter of this paper is Buddhist economics in theory and practice. The goal is to point out the main concepts of Buddhist economics, which is different from Western mainstream economics, and then explain how applying Buddhist teachings to business can possibly improve societal well-being and the condition of the natural environment. The main contribution of the article is twofold. Firstly, it aims to plumb the literature to identify characteristics of Buddhist economics, which is a relatively new field. Secondly, it compares Buddhist enterprises to relatively well-known social enterprises, showing the main differences between them. “Buddhist ideas in practice” are illustrated by examples of such companies as Benefit System or Patagonia. The main conclusion is that money and wealth are allowed in Buddhism, but religion reminds people not to become attached to their possessions and to share them with others. Examples described in the paper lead to an awareness that economic activity can be a means to a noble life. New criteria of assessment of business success including social engagement and care for the environment should be created. Thus, deep institutional changes which redefine the roles and duties of business would be required. The paper is based on literature, documents and online sources. The research methods used are the critique of literature covering the subject matter, comparative analysis and elements of case studies.

In Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist (2017), economist Kate Raworth calls for the need to recreate or re-recognize ties between eco- nomic activities and complex social, biological, and cultural systems. Such re-integration, she argues, is the foundation of a necessary shift from extractive to regenerative systems. In this paper I discuss some of the critical challenges and compelling possibilities that arise when we try to imagine how human self-understanding could be integrated with regenerative practices. Throughout, I focus on co-constitution or mutual causality as a key dynamic that connects Raworth's "seven ways," Buddhist epistemology, and permaculture practices. [ABSTRACT FROM AUTHOR]

From the perspectives of lived practices of Buddhists, Theravāda Buddhism and economics have a deeply intertwined relationship. My proposed theoretical method for the study of Buddhism and economics delineates two approaches: the doctrinal approach of Max Weber and a modified lived religion approach. The doctrinal approach, which focuses on Buddhist texts and the early monastic life, treats anything outside of a posited "pure Buddhism," as a transformation of the "original" teachings into something new and different. The remnants of this idea of transformation can be seen in studies of Theravāda Buddhism, causing economic practices involving Buddhist monks to be analyzed as a deviation from the Buddha's teachings. I propose moving beyond early Buddhism and text-based studies as a baseline for comparison by offering as an alternative a modified version of the lived religion method of Meredith McGuire. My theoretical modifications to this approach allow us to think about lived religion in the Theravāda Buddhist context. I recommend that the cultural logic of Theravāda Buddhism, in particular the economy of merit and contingent conjunctures of engagements with the market, need to be considered in order to avoid understanding Buddhist connections with the economy as a transformation of Buddhist doctrine. [ABSTRACT FROM AUTHOR]

The prevailing view of capacity building is summed up in the adage: "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime." In other words, simple compassion is counterproductive; utilitarian measures of effectiveness are the best standard for evaluating a social innovation. This paper will explore the alternative possibility that practicing simple compassion as the highest virtue, as did the Buddha, can be so productive that the aphorism should be: "Give a woman a fi sh, and she may help you build a fish farm." This argument is illustrated by an exploratory case study of a Thai firm, Siam Hands. The company exemplifies a Buddhist economics approach to social innovation and capacity building, as opposed to mainstream Western utilitarianism. [ABSTRACT FROM AUTHOR]

The financial market is undeniably the prime exemplar of capitalism where practitioners compete under intense pressure to excel in decision making every nanosecond. This unrelenting pursuit of outperformance is limited by human physical and mental capacities to make decisions based on the available technology and information. This paper reviews the state of contemplative practices as a form of "mind technology" in the financial market. In order to deliver outperformance, financial Alpha, in the market, this mind technology seems to suggest that it is important to engage in contemplative practices so that our brainwaves could transcend from the faster neural Gamma and Alpha waves to the slower and advanced state of neural Delta waves. This research looks into the benefits of these contemplative practices, particularly in decision making and management. It then evaluates the potential integration and conflict between contemplative practices and material pursuits. It argues that while contemplative practices are conducive to better decision making and management, they have not reached their full potential. It explores the potential unique contribution of Buddhist Economics and offers some avenues for the modern mindfulness movement to rethink how we could develop our mental capacities to cope with the challenges in the market economy. [ABSTRACT FROM AUTHOR]

Over the centuries, Buddhist monks applied economic models in the operations of their monasteries to make them sustainable while also observing Buddhist principles. The large variety of economic practices observed demonstrate the creativity of monastics in acquiring the resources to support their large monasteries in a way that was viewed as compatible with Buddhist ethics embodied in the Noble Eightfold Path. Researchers have analyzed the integration of faith-based and fi nancially related monastic needs for different countries in different eras. The Buddhist economics approach as it has been developed in the last 40-50 years aims to create an alternative worldview that challenges the main underlying assumptions of Western economics. The mainstream Western economics model is originally based on the following assumptions: rational, selfi sh behavior; profi t-maximization; competitive markets; and instrumental use of the environment. Buddhist economics is based on a different set of assumptions: dependent origination ("pratityasamutpada"), where people are interdependent with each other and with Earth; people are aware of enlightened self-interest based on interdependence and thus are altruistic; fi rms care about the well-being of workers, customers, shareholders, and community; and all activities include caring for the environment. With these assumptions, the Buddhist economic model has shared prosperity in a sustainable world with minimal suffering as its goal. [ABSTRACT FROM AUTHOR]

In this era of economic melt downs, corporate frauds, dearth of ethical leadership and degradation of human values and exploitation of people and environment, the need of time is to revisit our ancient philosophies to address the issues that have plagued our society. Buddhism offers a unique spectrum of ideologies and remedies that can help in overcoming the managerial, economic as well as social issues of 21st century. Buddhism addresses the root of every problem and it is more of an ethical philosophy then a religion which is most compatible with modern thoughts. This paper provides a review of the Buddhist thoughts that can be used to address management issues of 21st century and serve our purpose of developing a holistic and sustainable management theory. [ABSTRACT FROM AUTHOR]

A particularly visible aspect of multidimensional approaches to human development and ecological boundaries has been the elaboration of various types of indicators. But such an activity has often proceeded without much scrutiny of: (i) the theory and philosophy that underpins the multidimensional conception expressed through those indicators; and (ii) the socio-economic structure behind those indicators. This article addresses those questions, through a comparison of two authors who pioneered multidimensional approaches aimed at a more humane and sustainable approach to development: A. K. Sen, who focused essentially on human development; and E. F. Schumacher, who also advocated a humane approach to development, but within a conception where ecological sustainability is at the core of the analysis. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to demonstrate that both leisure and sustainability objectives can be achieved via Buddhist economics informed agritourism. Buddhist economics differs significantly from mainstream (neoclassical) economics in its ontological underpinning. This means that assumptions about human nature are different: the core values of mainstream economics are self-interest and competition in the pursuit of maximum welfare or utility; while in Buddhist economics, “self” includes oneself, society and nature, which are all simultaneously interconnected. The core values of Buddhist economics are compassion and collaboration through which well-being is achieved, leading to higher wisdom (pañña). Because of this, the interconnectedness of activities and relationships, even those not initially obviously so linked, is crucial. Design/methodology/approach – The theoretical argument is illustrated by a pilot study of an agritourism, package tour to visit the properties of Thai farmers involved with a project known as “running a one rai farm to gain a one hundred thousand baht return”. The research is exploratory in character. Findings – A result of this study is to reveal agritourism as a significant market channel to promote sustainable agriculture. Originality/value – Agritourism can be considered an instrument for rural development with its contribution to positive economic impacts, providing economic opportunities to sustain financial security for the farming family, maintaining viability of the agricultural sector and local communities and creating jobs for rural residents together with sustainable agriculture. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to critically evaluate consumer society through various perspectives. In addition, it applies Buddhist economics as an exemplary model which helps managing consumer society. Design/methodology/approach -- The study started by comparing and contrasting the management of consumption between Mainstream and Buddhist economic. In addition, various perspectives such as Marxian economics, Frankfurt School, sociology as well as social critics are added to comprehend consumer society. Finally, it proposed the practices of Buddhist economics as an exemplary model for managing consumer society. Findings -- The study found that while Mainstream economics focusses on increasing the amount of goods and services, Buddhist economics focusses on converting the insatiable to satiable desires. There are two viewpoints of the interconnected spheres of consumption and production through the evolution of consumerism; a producer-led approach and a consumer-led approach. This polarization presents the debate in a very well-established tension between structure and agency. Originality/value -- This paper proposed an exemplary model for managing consumer society by applying the dialectical relationship of both structure and agency. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to explore adaptable Buddhist teachings in economic circumstances, and provide a firm theoretical foundation for a possible Buddhist management approach. It aims to show that the application of Buddhist practical wisdom is contributing to achieve more beneficial economic outcome and management practices. Design/methodology/approach -- The paper is overviewing the Buddhist teachings, which aims at the cessation of suffering. It emphasizes tenets influencing right livelihood and economic practice. Further it investigates the mainstream economic system and Buddhist economics. It compares the two economic approaches by making parallel constructions of them, and reveals the foundation of a new management approach stem from the Buddhist view of economic affairs. Findings -- The application of the Buddhist values of mindfulness, non-harming and compassion in management practice serves adequate solutions to the most pressing issues of economics, since it is inherently fair, just and economically efficient. It allows an individually-, socially- and environmentally friendly management praxis by employing a minimizing framework. Practical implications -- The evidence that doing business in the Buddhist way is economically efficient is the foundation of an alternative management practice. Thus, managers and entrepreneurs are encouraged to employ a Buddhist way for management. Social implications -- Applying Buddhist teachings to economics alleviates the most pressing problems of the society. It contributes to equality, justice and the cessation of poverty by ensuring basic necessities to people. Originality/value -- The paper sets up a parallel investigation of Buddhism, mainstream economics, and Buddhist economics by making a parallel model of them. It contrasts neoclassical economics with Buddhist economics, and ensures a firm foundation for Buddhist management approaches. [ABSTRACT FROM AUTHOR]

This paper constructs utility function and production function following Buddhist economics. It divides the utility into two parts, the utility from outputs done for self-interest and outputs worked for public interest. The production of private outputs uses two factors, time spent and financial assets kept for private use. The production of public outputs combines two factors, time spent and financial assets donated for public affairs. Then it finds the long-run equilibrium or the steady state to maximize the utility. Moreover, it simulates the effect of changing parameters in the functions on the steady states. It discovers that an individual maximizes the long-run utility when he or she lives almost extremely either to help people or to spend time alone combining with the compensation such that when the individual chooses to spend time extremely for other people, he or she must keep financial assets for self-interest, in contrast, when the individual chooses to keep the time for self-interest, he or she must donate financial assets to public affairs. This study mathematically confirms that the principle of middle path in Buddhist economics truly leads to the maximized utility of an individual. [ABSTRACT FROM AUTHOR]

The economic principles and tools that are commonly applied to recover costs for urban water and sanitation arise from the dominant perspective of neo-classical economics, with its emphasis on 'full cost pricing' based on the 'user pays' principle. Kumudini Abeysuriya, Cynthia Mitchell and Juliet Willetts examine two other qualitatively different economic perspectives to demonstrate how they lead to different approaches: ecological economics takes a more holistic approach explicitly committed to sustainability, while Buddhist economics brings ethics to the fore and opens the possibility for cooperation between the various actors in creating solutions to benefit individuals, society and the environment. We propose a set of interconnected guiding principles based on an expanded economic perspective that integrates all three perspectives, to enable water and sanitation services for developing countries to align with sustainability. [ABSTRACT FROM AUTHOR]

This study was undertaken to observe the development process and key success factors in three community enterprises adopting a Buddhist economic approach to development. The enterprises were established by weavers, farmers and housewives from three communities in the south of Thailand. Data were obtained through in-depth interviews and observation with representatives of the groups and their supporters as they participated in community activities. Buddhist economics differs significantly from neoclassical economics in its recognition of ethic and moral issues. In addition to the objective of production or consumption to optimise profit or utility value, Buddhist economics also recognises that many non-financial factors which contribute to an individual's quality of life are important. The key success factor in the community enterprises which were studied was the process of 'good thinking', or the constructive use of wisdom among leaders and group members through the processes of 'right understanding' and 'right thought'. Economically efficient activities were developed through the use of an external factor- a 'good friend', comparable with social capital-and an internal factor-the employment of analytical thinking by members, comparable to the use of human capital. Neither factor can be created from physical capital but is derived from the process of learning and reviewing. [ABSTRACT FROM AUTHOR]

Abstract: The possibility of a fruitful dialogue between Buddhism and economics has generally been repudiated in Western social science discourse. This situation is now changing in recognition of the key role of both social norms and beliefs, and economic matters, in current global political and military tensions, environmental problems, and efforts to change institutions and economies to bring higher levels of welfare. Even within mainstream economics, there are increasing efforts to incorporate socio-cultural influences into the assumptions and analysis of economic behaviour and activities. These developments provide a new basis for mutually beneficial exchange between studies of the economic dimensions of society, and the offerings of the Buddhist world view, logic and potential problem-solving approach. This paper describes some key features of “Buddhist economics” and builds upon Schumacher''s original ideas and other more recent work concerned with the close correspondence between economic (or “livelihood”) aspects of human life and the philosophy, world view, and practice of Buddhism. A systematic comparison of the relevant dimensions of Buddhism and neoclassical economics demonstrates that Buddhist philosophy has intrinsic economic implications and highlights the potential relevance and value of integrated socio-economic analyses for application in the contemporary global context. [Copyright &y& Elsevier]