Buddhist economics
[1] It examines the psychology of the human mind and the emotions that direct economic activity, in particular concepts such as anxiety, aspirations and self-actualization principles.
"[4] Sri Lankan economist Neville Karunatilake wrote that: "A Buddhist economic system has its foundations in the development of a co-operative and harmonious effort in group living.
In Buddhist economics, there are three major functions to work, "to give man a chance to utilise and develop his faculties; to enable him to overcome his ego-centredness by joining with other people in a common task; and to bring forth the goods and services needed for a becoming existence.
"[7] This shift in the way work is viewed, both by employers and employees, if applied to the western world, would be fundamentally altering to the incentives driving modern economies.
This represents a commitment to building an economy that would serve Bhutan's culture based on Buddhist spiritual values instead of material development, such as being gauged by only GDP.
[10] In addition to domestic output (or consumption), measuring economic performance includes equity, sustainability, and activities that create a meaningful life.
The reign of Ashoka is famous for an extensive philanthropic and public works program, which built hospitals, hostels, parks, and nature preserves.
The term is currently used by followers of Schumacher and by Theravada Buddhist writers, such as Prayudh Payutto, Padmasiri De Silva, and Luang Por Dattajivo.
[2] The Buddhist point of view ascribes to work three functions: 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.
[3] They also believe that satisfaction need not necessarily be felt only when something tangible is got back in return for giving something or something material is gained, as stated in modern economics.
Taking this into consideration, they advocate non-production in certain cases because when one produces less materialistic things, they reduce exploitation of the world's resources and lead the life of a responsible and aware citizen.
