ISSN 1076-9005
Volume 31, 2024

Economic Justice in the Buddhist Tradition

Christopher Queen
Harvard University

Buddhism is widely associated today with progressive values and exemplary models of economic life. The idea of “Buddhist economics” was paired with the slogan “small is beautiful” by the economist E. F. Schumacher in 1973. Voluntary simplicity, renunciation, and a middle path between self-indulgence and self-denial are seen as keys to sustainable levels of acquisition and consumption. Buddhist kindness and compassion are thought to inspire charitable giving to the poor, and right livelihood to promote occupations of service to society. Yet the history of Buddhist economics does not always support these assumptions. Traditional beliefs in karma and merit-making do not align with modern ideas of justice. We examine the Buddhist record in areas of social equality, property, natural resources, products, wealth, income, jobs, and taxation. Each section surveys Buddhist economics in the Theravāda cultures of South and Southeast Asia; the Mahāyāna cultures that flourished in India, China, Tibet, and East Asia; and the modern period, marked by the rise of Engaged Buddhism in Asia and the West. At each stage we find distinctive teachings and practices in the economic sphere. Read article