Viktor Zinchenko ; Mykhailo Boichenko - Buddhist economics as a return to rational model of economic management

jpe:10032 - Journal of Philosophical Economics, January 18, 2023, Volume XV -
Buddhist economics as a return to rational model of economic managementArticle

Authors: Viktor Zinchenko ORCID1; Mykhailo Boichenko ORCID

  • 1 Institute of Higher Education of the National Academy of Educational Sciences of Ukraine, Kyiv-city, Ukraine

The concept of Buddhist economics is gaining increased appeal in a world where external factors are once again becoming more of a threat than a salvation. Buddhist economy is a return to the values of agricultural production, but taking into account the experience and achievements of the industrial and post-industrial economy. Care for the environment, personal development, community development, especially spiritual development – these are the priorities of the Buddhist economy. In particular, agricultural production appears as only the most convenient means for achieving these goals. However, Buddhist economics is not a rejection of the achievements of modern and postmodern society – it is an attempt to use these experiences and achievements for a more intelligent and effective implementation of the goals of the economy, which were defined by Aristotle. The rational model of economic management according to these views consists in thrifty but full consumption and restrained production with environmentally friendly aims.

Volume: Volume XV
Section: The Economists’ Philosophy Day – A Journal of Philosophical Economics celebration of philosophical reflection in the economic science
Published on: January 18, 2023
Accepted on: December 23, 2022
Submitted on: September 12, 2022
Keywords: Buddhist economics,optimal consumption,personal development,economic rationality,[SHS.PHIL]Humanities and Social Sciences/Philosophy,[SHS.ECO]Humanities and Social Sciences/Economics and Finance

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