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Friday, 04 April 2014 13:18

Buddhist Economics

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The Impact of Western Economics on the East                   Dallas food line, 1987                         


This is a transcript of the chapter Buddhist Economics in E. F. Schumaker's landmark book, Small is Beautiful. (Schumacher, E. F. Small is Beautiful, Abacus Books, London, 1974) Here, Schumaker brilliantly contrasts the Western and Eastern economic systems and chooses Buddhism as an example. He contrast our dog-eat-dag capitalist system against a system based upon the creation, maintenance, protection and furtherance of human dignity, taking the Buddha's Eight-Fold Path as hisinstrument of analysis. It is a sobering piece of writing when we consider that, forty years after irt was written, the planet now stands on the threshold of calamity.

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