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From:
[log in to unmask] (Forstater, Mathew)
Date:
Thu Oct 12 00:19:10 2006
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Schumacher, in his famous essay on "Buddhist Economics" argued that one  
of the precepts of Buddhism is "right livelihood" and therefore there  
must be such a thing as a Buddhist Economics.    
  
As with many topics, we must distinguish between "X economics" (or "Xist  
economics") and "the economics of X".  An example of the "Economics of  
Buddhism" was in a paper I once saw that argued that individuals will  
allocate a certain amount of time to meditation based on good old  
marginalist (cost-benefit) principles.  One would think that, according  
to the Becker-type approach, there is an "economics of..." everything,  
at least everything that takes time, and therefore regards allocating  
scarce resources among competing uses.  
  
This harks back to the discussion we had on whether there is a "Black  
Economics".  There is Islamic economics, Buddhist economics, Christian  
economics, Jewish economics, etc., the Association for Social Economics  
has long had religion and economics as a main theme, there are  
conferences and books on religion and economics, including all the  
different ones cited above.  Whether one agrees with it or not, or  
thinks it makes sense, or anything else, is a different matter, but one  
cannot say it does not exist.  
  
Not all religions require blind faith, by the way, but probably not an  
appropriate topic for this list.  
  
Mathew Forstater  
  

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