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Buddhist economics as a return to rational model of economic management

Author

Listed:
  • Viktor Zinchenko

    (Institute of Higher Education of the National Academy of Educational Sciences of Ukraine, Kyiv-city, Ukraine)

  • Mykhailo Boichenko

Abstract

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.

Suggested Citation

  • Viktor Zinchenko & Mykhailo Boichenko, 2023. "Buddhist economics as a return to rational model of economic management," Post-Print hal-03760219, HAL.
    • Handle: RePEc:hal:journl:hal-03760219
    DOI: 10.46298/jpe.10032
    Note: View the original document on HAL open archive server: https://hal.science/hal-03760219v4
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    References listed on IDEAS

    as
    1. Wolfgang Drechsler, 2019. "The Reality and Diversity of Buddhist Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(2), pages 523-560, March.
    2. Viktor Zinchenko & Mykhailo Boichenko, 2022. "Buddhist economics as a return to rational model of economic management," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 15(1), pages 227-244.
    3. Viktor Zinchenko & Mykhailo Boichenko, 2022. "Buddhist economics as a return to rational model of economic management," Working Papers hal-03760219, HAL.
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    Cited by:

    1. Viktor Zinchenko & Mykhailo Boichenko, 2022. "Buddhist economics as a return to rational model of economic management," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 15(1), pages 227-244.

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    More about this item

    Keywords

    Buddhist economics; optimal consumption; personal development; economic rationality;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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