Alternative to Modern Capitalism? Buddhist Economics

So, 12 days since my last post. Preparing for a move to SE Asia has been like bodysurfing a wave that was a tad bit bigger than you – lots of momentum and movement – and it’s pushing you all over the place while you try to keep your head above the foam! But here goes: Buddhist Economics.

One of the essays in Fritz Schumacher’s 1973 Small Is Beautiful: Economics As If People Mattered is entitled ‘Buddhist Economics’. In it, Schumacher argues that labor, for the classic Western capitalist, is a necessary evil that you want to get the most out of. The less labor you need, the better, aka mechanization. Likewise, labor also sees work as a dis-utility; they would rather have more compensation with less work. So, from the get-go, labor and management/ownership find themselves in contrary positions. This is neither harmonious, nor engendering an organizational atmosphere where everyone feels they are working for a common goal.

However, a Buddhist take on economics, Schumacher argues, is quite different.

“The Buddhist point of view takes the function of work to be at least threefold: to give man a chance to utilize and develop his faculties; to enable him to overcome his ego-centeredness by joining with other people in a common task; and to bring forth the goods and services needed for a becoming existence. …To organize work in such a manner that it becomes meaningless, boring, stultifying, or nerve-wracking for the worker would be little short of criminal; it would indicate a greater concern with goods than with people….

The Indian philosopher and economist J.C. Kumarappa sums the matter up as follows:

If the nature of the work is properly appreciated and applied, it will stand in the same relation to the higher faculties as food is to the physical body. It nourishes and enlivens the higher man and urges him to produce the best he is capable of. It directs his free will along the proper course and disciplines the animal in him into progressive channels. It furnishes an excellent background for man to display his scale of values and develop his personality.

If a man has no chance of obtaining work he is in a desperate position, not simply because he lacks an income but because he lacks this nourishing and enlivening factor of disciplined work which nothing can replace.”

And yet, Schumacher goes on, modern capitalism desires a certain percentage of the labor force to be unemployed, for various economic reasons.

Now, I ask you, fellow Christians: which sounds more like the view of work in the Scriptures we call the Old Testament: modern capitalism or Schumacher’s Buddhist economics?

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