Two Thai Buddhist Economic Models

Though Buddhist economics was presented as a theory in the previous post, two operational models actually exist in Thailand: 1. The Royal Thai Sufficiency Economy Model, which operates on the principles of  moderation, reasonableness, self-immunity, wisdom and integrity, was publicly introduced by the King of Thailand following the 1997 economic  crisis and is now championed

Is Buddhist Economics an Oxymoron?

Buddhist economics and mainstream Western economics are not as radically opposed as suggested by their stereotypes, the monk and the stockbroker. Like its Western sibling, the Buddhist model is based on individual rational choices concerning material wellbeing. The accumulation of wealth is allowed, and in many cases even encouraged. Significant differences emerge, however, upon closer

Why Wellbeing?

When most people think about the wellbeing of society, they tend to think in financial terms—how is the economy doing? Is it growing? By what percent? Yet there are fundamental problems with the overemphasis on economic growth as THE path to prosperity. Besides the fact that it’s based on Western values of material accumulation and