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By Vaddhaka Linn

After his Enlightenment the Buddha got down to support free up the person, and create a society loose from ache. the commercial assets now exist to supply a pragmatic chance of offering everybody with respectable nutrition, look after, paintings, and relaxation, to permit every one people to meet our capability as people, whereas preserving the surroundings. what's it within the nature of contemporary capitalism which prevents that occuring? Can Buddhism aid us construct whatever higher than our present economic climate, to lessen discomfort and aid the person to freedom? during this thought-provoking paintings, Vaddhaka Linn explores solutions to those questions by way of interpreting our fiscal international from the ethical perspective proven via the Buddha.

Having accomplished a level in economics, Vaddhaka Linn before everything labored within the uk in exchange unionism, politics, and grownup schooling, ahead of becoming a member of the Triratna Buddhist group, during which he has lived and labored for the reason that 1994. He now divides his time among the uk and Estonia, the place he teaches and is helping to run a Buddhist middle

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Additional resources for The Buddha on Wall Street: What's Wrong with Capitalism and What We Can Do about It

Example text

In the next chapter I shall explore the economist’s view of altruism. 1 Written by Richard Titmuss, Professor of Social Administration at the London School of Economics, it compared the blood donation systems then existing in the US and the UK. Blood donation in the UK relied on people giving blood voluntarily, for no financial reward. Blood was given as a gift. Donations of blood were then used for strangers, who received the blood at no charge. The UK system existed outside the market rules of economics and relied upon altruism.

In return, they give a share of their rice to the appointed ruler. Government and taxation appear. And later on, people divide themselves further, into Brahmins, traders, ascetics, and servants. ‘Servants’, the largest group, work for the other classes. The Buddha comments that ‘servants’ experience mean and cruel lives. The caste system appears. What can we learn from this myth? Firstly, I think the Buddha is telling us that the socio-economic order of society is made by human beings; it’s not god-given.

In it, he is showing us how suffering and the causes of suffering arise in dependence upon taṇhā. Does this mean that the Buddha would agree with those who argue that selfishness and greed are a fixed characteristic of human nature, a dominant part of our evolutionary inheritance that cannot be transcended? No. In his teaching of the four noble truths, the Buddha tells us that the suffering described in the Aggañña Sutta is not inevitable and that there is a way to remove suffering. Suffering exists (first noble truth) and arises from taṇhā, the restless search for the satisfaction of our desire (second noble truth).

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