Sri Lanka

Overview of Buddhist Economics

• Buddhist economics integrates spiritual practice with economic life, emphasizing ethical behavior and community welfare.

• Major themes in Buddhist economics include reducing greed, fostering generosity, and prioritizing mental well-being.

Key Movements and Examples

1. Sarvōdaya Śramadāna Movement (Sri Lanka)

• Founded by Dr. A.T. Ariyaratne in 1958.

• Advocates for the idea that individual liberation is connected to societal liberation.

• Draws from Mahatma Gandhi's teachings and the Pali Canon, interrelating personal ethics with social change.

• Key Principles:

  • Dukkha (Suffering): Recognizing suffering in the world.

  • Origin of Suffering: Understanding that greed, aversion, and selfishness fuel suffering.

  • Cessation of Suffering: Emphasizes the Eightfold Path as a means to alleviate suffering.

• Activities:

  • Members participate in work camps to assist local communities.

  • Functions under principles of generosity, equality, and constructive work.

• As of now, it comprises 26 district centers, 325 divisional centers, and over 3,000 village societies in Sri Lanka.

2. Santi Asoke Movement (Thailand)

• Founded in 1975 by Samana Phothirak, who created a new organization post-defrocking.

• Emphasizes a simple lifestyle and harmonious living with nature.

• Key Activities:

  • Establishes social welfare programs such as thrift stores, farmers' markets, and vegetarian restaurants.

• Lifestyle:

  • Most followers eat once daily and avoid wasteful practices.

  • Practices "open eye" meditation during daily work interactions, reinforcing community engagement.

• Influenced by Gandhian concepts of self-sufficiency and communal living.

• Their slogan: "Consume Little, Work Hard, and Give the Rest to Society."

3. Patagonia Clothing (USA)

• Founded by Yvon Chouinard in 1973, it reflects strong ecological and social values rooted in Zen Buddhism.

• Key Initiatives:

  • Implements environmental practices to reduce its carbon footprint.

  • Donates 1% of profits to environmental causes.

  • Encourages product durability, repair, and second-hand buying.

  • Supports responsible startups through investment funds.

• Chouinard received the Inamori Ethics Prize, recognizing his dedication to ethical business practices.

Conclusion

• Buddhist economics offers a third pathway beyond traditional capitalism and socialism, focusing on balance and connection with nature and community.

• Emphasizes a Buddhist scale of value that seeks to humanize economics and provides a meaningful counter to Western economic dominance.