Kathleen Maclay — Buddhist economics: oxymoron or idea whose time has come?

As part of the course, students have been engaged in conversation with Tibetan Buddhist priest Anam Thubten Rinpoche, who explained Buddhism’s “Eightfold Path” that is based on right livelihood — or a way of making a living that does no harm to others, interdependence and connectedness, and inner contentment. True Buddhist economics, he told the students, recognizes everyone’s interconnectedness.

Rinpoche stressed living a life based on inner values and inner wealth and taking care of those who are suffering or in need. “Wealth is not only your material acquisition,” said Rinpoche, suggesting rejection of modern society’s “grand delusion” in favor of a middle path based on faith, generosity, integrity, wisdom, conscience and contemplation.

UC Berkeley New Center
Buddhist economics: oxymoron or idea whose time has come?
Kathleen Maclay

See also E. F. Schumacher's article, Buddhist Economics, and book, Small Is Beautiful that introduced Buddhist economists to the West.