Buddhist economics is a field within the study of economics that focuses on the application of Buddhist philosophy to economic and social problems. It examines the importance of Buddhist principles such as compassion, justice, companionship and improvisation in building a sustainable and happy economy and society.
The history of Buddhist economics can be traced back to Buddhist scriptures and philosophical writings of Buddhist intellectuals. Studies of Buddhist economics often focus on examining the concept of resources, health, education, and work in the context of Buddhist principles.
The content of Buddhist economics shows concern for the human way of life, the importance of consideration in the use of resources, and the emphasis on harmony between economic development and spiritual well-being. It challenges traditional economic views by upholding human values and immaterial factors such as happiness, satisfaction and social justice in shaping an economic system.
However, please note that Buddhist economics is not a recognized or popular field in the mainstream economic community. Typically, it is seen as a relatively new approach and is uncommon in the world of economic research.
By Ven. Thich Tam Duc