The document proposes a Buddhist economic model as an alternative to free market economics. It summarizes four key observations that support this: 1) inequality and carbon emissions are linked, 2) inequality reduces well-being, 3) fossil fuel subsidies disproportionately benefit the rich, and 4) people are both altruistic and self-interested. A Buddhist economic approach would measure economic performance by well-being rather than growth, promote sustainability and equity, and encourage policies that create meaningful lives for all within planetary boundaries. The goal is a just and sustainable world economy.

1. BUDDHIST ECONOMICS
“Creating Meaningful Lives in Sustainable World”
CLAIR BROWN, University of California, Berkeley

2. CRITICAL PROBLEMS
Inequality Climate Change

3. BUDDHIST ECONOMICS

4. 1. INTERDEPENDENCE
With Each Other & Nature

5. Barry Commoner
Founder of modern ecology
5
• Interdependence is one of the four laws of ecology:
“Everything is connected to everything else. There is
one ecosphere for all living organisms and what
affects one, affects all.”
Barry Commoner, The Closing Circle: Nature, Man, and Technology
(New York: Random House, 1971).

6. 2. IMPERMANENCE
Everything changes
Created By Piotr Gawiński from Noun Project

7. 3. COMPASSION
Reduce suffering

8. FREE MARKET ECONOMICS

9. 3 Beliefs
1. More is better
3. Goal is maximize income
2. People are selfish and rational

10. FREE MARKET V. BUDDHIST ECONOMICS
Goal: maximize average national
income (“more is better”)
Goal: provide well-being for all
in sustainable world.

11. Data and Evidence: 4 observations
1
1. Inequality and CO2 emissions go together
• GDP growth has increased inequality—rich grab
increased GDP
• GDP growth has increased CO2 emissions
Our focus on GDP growth is creating catastrophe
that will make planet uninhabitable for humans.

12. 1

13. Overconsumption by Rich Countries
1
• UN benchmark: 2.1 tCO2e (metric tons of carbon)
per person per year by 2050
• US average 16.4 tCO2 per person
• Richest 10%: Avg 50 tCO2e per person
• Bottom 50% of income: Avg 8.5 tCO2e per person
• EU average 6.7 tCO2 per person.

14. 2. Inequality reduces well-being
1
• People feel worse off as inequality grows
• Invidious comparisons (relative income important)
• Well-being index worsens as income inequality
increases across rich countries

16. 3. Global Subsidies to Fossil Fuel Industry
and to the Rich (direct payments, in-kind payments)
1
• Direct fossil fuel subsidies worldwide $333 billion
• Add social costs (indirect costs to human health &
environmental damage): subsidies are $5.3 trillion
(6.5% of global output).
• Source: IMF for 2015
• Low-income families & regions indirectly (worse health
& pollution & climate crisis) subsidize rich people &
nation’s high-carbon, wasteful lifestyles.

17. Transferring well-being from low-income people
to rich people
1

18. Are People Altruistic or Selfish?
Interdependent or Individualistic?
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19. 4. People are altruistic as well as self-regarding
1
• Psychologists & neuroscientists confirm: people act
with altruism as well as selfishness.
• Economists observe in lab games: people have
altruistic feelings.
• Altruism: unconditional caring about others with no
ulterior motive

20. WHAT CREATES HAPPINESS?
Helping others Enjoying nature
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21. Psychologists:
What makes people happy?
2
• Being kind to others makes people happier.
• Eudaimonic happiness comes from helping others,
good relationships, contributing to community, and
enjoying surroundings.
• Hedonic happiness from buying stuff doesn’t last long.

22. Buddhist Economy can create a healthier,
happier world.
2
• Known government policies to reduce inequality,
provide economic security and opportunity for all people.
• Roadmaps show how to create sustainable economy
with carbon-free energy, regenerative agriculture, and
clean water.
• UN Millennium Development Goals demonstrated how
to reduce global hunger and poverty, and educate
women and girls.

23. Role of Government
• Rules, incentives to structure markets, along with
social programs to achieve social goals
• Transition to modern, low carbon, equitable
economy.
• Create an economy that supports meaningful life for
all people and cares for Mother Earth.

24. 1. Live Mindfully with Love, Compassion & Wisdom
INDIVIDUALS
2. IMPT: Work Together & Take Action

25. CORPORATIONS
2. Living wages and balanced life
1. Green Production & Green Products

26. MEASURING ECONOMIC PERFORMANCE
(GDP or Well-being?)
=
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27. New measurement of economic performance
2
• Economic performance is no longer income growth
• Includes equity, sustainability, family and
community
• Measures well-being of people and the
environment
UK, France, OECD, UN have created economic performance
measures that include quality of life, distribution and
sustainability.

28. All countries
• Use clean energy and regenerative agriculture.
• Waste less food (30% wasted globally; 40% in US) and eat
less meat.
• Animals use 83% of farmland, cause 57% of food-related emissions,
provide 18% of calories.
Rich countries reduce wasteful consumption; fly less; support
sustainable development in poor countries.
Poor countries increase basic consumption; reduce population
growth.
Equitable Global Solution

30. CLOSING THOUGHTS
We need political will and courage to take action on behalf of people
and Mother Earth, over generations.
This is a lifetime commitment and process.
May we continue the journey together.

31. Gratitude to friends around the world for insight and support.
BUDDHIST ECONOMICS:
An enlightened approach to the dismal science
Clair Brown
Bloomsbury Press
Buddhisteconomics.net

32. • Need to stay under 1.5C to prevent catastrophic changes--
sea level rise, warm & acidic oceans, droughts, inadequate
water supplies, deaths from overheating & disease.
• Current pledges will cause temperatures to rise 2.9C by
2100.
• If countries do not act: temperatures rise 4.5C
• Top four emitters (China 27%, US 15%, EU 10%, India 7%)
cause 59% of GHGs.
Paris 2015 (COP21)-- Not Enough.

33. COUNTRY POLICIES
support meaningful, sustainable life for all
1. Tax and transfer
2. Sustainable agriculture
3. Measure economic performance holistically
4. Peace and prosperity

34. • Hedonic happiness—the pursuit of pleasure and the
avoidance of pain
• Measured as subjective well-being, a predominance
of positive over negative affect
• Cantril ladder: measures “happiness” by person
stating which step “you personally feel you stand at
this time” (worst possible to best possible life for me)
What is happiness
in free market economics?

35. • Buddhism—Happiness comes from within, not from
consumption. Grasping makes us suffer.
• Attain true freedom and peace—Stop mental habits of craving
and responding to external stimuli. Be in touch with your loving-
kindness, generosity, and wisdom.
• Low-income problem—People need basic consumption in a
supportive community. Then they can focus on creating a meaningful
life.
What is happiness in Buddhist economics?

36. 1. What is important to me?
2. What do I need to live a meaningful life?

38. Global Income Deciles and Associated Lifestyle Consumption Emissions
Source: Oxfam Report 2015