Buddhist Wisdom and the Search for a Fairer Economy
Summary
Buddhist economic thought is presented as a practical framework for reducing inequality, protecting the environment, and building a fairer welfare economy. Bhutan and the Nordic countries are cited as examples of how wellbeing-focused policies can support both prosperity and social cohesion.
Key Points
- The article argues that ending extreme poverty and global inequality requires wisdom, ethics, and welfare-oriented economic systems rather than minor policy tweaks.
- Buddhism is framed as offering a practical diagnosis of economic suffering, emphasizing sufficiency, interdependence, and long-term wellbeing over greed and excess.
- Bhutan’s Gross National Happiness model and the Nordic welfare states are cited as examples of economies that prioritize wellbeing, education, health, and environmental protection.
- The article calls for progressive taxation, universal services, labor protections, wealth redistribution, and stronger environmental safeguards as core economic policies.
