Buddhist Economics

Business for the Greater Good: GNH Rating for Enterprises

A paper on “Business for the Greater Good: GNH Rating for Enterprises” by Laszlo Zsolnai and Zoltan Valcsicsak was presented at the 7th International Conference on Gross National Happiness in November 7-9, 2017 in Thimpu, Bhutan. The authors argued that Gross National Happiness (GNH) provides an alternative framework that can help enterprises to develop broader, more inclusive business models that aim to serve the greater good of society. The four pillars of GNH may be used to develop a holistic, multidimensional scheme to measure the environmental, social, cultural, and governance performance of business enterprises. Zsolnai and Valcsicsak presented an operational model which suggests rating companies according to their performances in pillars defined by GNH


Contemplative Science and Management

The Business Ethics Center of Corvinus University of Budapest and the European SPES Institute – Leuven organized an international transdisciplinary workshop on Contemplative Science & Management in May 19-21, 2017 in Budapest, Hungary. Collaborative partners included Mind & Life Europe and the Hungary-Bhutan Friendship Society.

Mindful and Compassionate Energy Use

In his contribution to the "Faith, Energy and Society" workshop at St Edmund’s College, University of Cambridge on March 3, 2017 Laszlo Zsolnai emphasized the importance of mindfulness and compassion in energy use. He stated that both direct and indirect energy consumption should be drastically reduced. To achieve this community-based, sufficiency oriented, decentralized energy production and distribution systems are needed.

Buddhism and Economic Development

Laszlo Zsolnai 'Buddhism and Economic Development.' , in Teaching Buddhism, eds. Todd Lewis, and Gary DeAngelis, Oxford University Press, Oxford, 2016.

Buddhist Economics is not the same as Economics of Buddhism. The former is a modern discourse that utilizes elements of Buddhist thought to construct an alternative model of the economy and the latter is a study of how Buddhists organize their econimic life in real-world social settings, past or present. Buddhist Economics is essentially a normative enterprise while Economics of Buddhism is a descriptive endeavor.

Buddhist Economics

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This presentation explores the principles of Buddhist economics and shows why „less is more” and „small is beautiful” in our ecologically and socially degrading world.

On Buddhist Economics in Montreal

Canadian business journalist Peter Hadekel published an interview with Laszlo Zsolnai about the relevance of Buddhist economics for Western economies on March 7, 2013 in Montreal Gazette. The main message is that Buddhism can be both helpful and inspiring in taking the consciousness of businesses and customers to another level.

Buddhist Values in Business and its Potential for Europe

The Buddhist Economics Research Platform, the Loden Foundation, Bhutan and the Hungarian Bhutan Friendship Society in partnership with the European SPES Forum and the European Buddhist Union organized an international workshop  'Buddhist Values in Business and its Potential for Europe' on 24-25 November 2012, in Brussels (Belgium).  Partly inspired by Bhutan's Gross National Happiness, the workshop was designed for people from the business or academic sectors interested or involved in Buddhist Business/Economics as well as for entrepreneurs, university students and leaders of Buddhist organizations. Laszlo Zsolnai served as a keynote speaker in the workshop. His presentation was about Western Economics versus Buddhist Economics.

Is Consumer Capitalism Outdated?

Walter Moss published an article "Is Consumer Capitalism Outdated?" in Los Angeles based LA Progressive which analyses and connects Occupy Wall Street, Spirituality in Business, E.F. Schumacher's human scale economics, Steve Jobs' legacy and Laszlo Zsolnai's work on Buddhist Economics. He argues that perhaps the best we can do in our present period of malaise is to seek the truth and wisely attempt to bring our lives and societies more in keeping with it.

Sustainable Growth or Right Livelihood?

The Faraday Institute for Science and Spirituality of the University of Cambridge organized an international conference entitled "Sustainability in Crisis" in September 26-28, 2011 in Cambridge. Laszlo Zsolnai has been invited to present a view of Buddhist economics on sustainability. In his presentation "Sustainable Growth or Right Livelihood" he argued that not sustainable growth but sustainable livelihood should be the main goal for economic policies. Sustainable livelihood implies the de-growth of the material side of the economy.Zsolnai Buddhist economics.pdf

Ethical Principles and Economic Transformation - A Buddhist Approach

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Laszlo Zsolnai (ed.) Ethical Principles and Economic Transformation - A Buddhist Approach. Springer, 2011. (This book may be available at: Springer)

The book presents new contributions of Buddhist economics to pressing socio-economic problems. Buddhism points out that emphasizing individuality and promoting the greatest fulfillment of the desires of the individual conjointly lead to destruction. The book promotes the basic value-choices of Buddhism, namely happiness, peace and permanence.