Sustainable development and Buddhist economics in Thailand

Abstract

Purpose

The purpose of this paper is to examine “(Buddhist economics)” in urban reform Buddhism in Thailand. In the West, Buddhist economics is often perceived as a specific economic system, but understanding the sustainable development debate in Buddhist countries requires recognition that there are many versions.

Design/methodology/approach

The authors organize the discussion about Buddhist economics into a framework used in the sustainability debate. Current literature, largely from Thai writers, is analyzed to understand their positions on economy and environment.

Findings

Four representative movements are discussed which show substantial differences. Status quo Wat Dhammakaya feels that Buddhist economics is mainly about improving individual moral behavior within the current capitalist system, and needs little systemic change. Santi Asoke is explicitly anti-capitalist, and its most serious adherents live simple lifestyles in collectivist agricultural communities. “(Reform-from-within)” seeks a mixed economy containing both capitalist and socialist elements. Kuan Im is also between the extremes, largely small business capitalist and wanting some restraints on perceived predatory big business.

Originality/value

Buddhist perspectives are just beginning to enter mainstream western discussion on sustainability. The most common understanding of Buddhist economics in the west is incomplete, assuming only one form of Buddhist economics. In fact, Buddhist societies, represented here by Thailand, cover the whole range of thinking on sustainability.

Citation

Speece, M.W. (2019), "Sustainable development and Buddhist economics in Thailand", International Journal of Social Economics, Vol. 46 No. 5, pp. 704-721. https://doi.org/10.1108/IJSE-08-2018-0405