Buddhist Economics: Ethical Foundations, Human Flourishing, and the Middle Path of Development

This article examines the economic perspective of Buddhism and its relevance to contemporary discussions on development, sustainability, and social justice. While mainstream economics often emphasizes growth, consumption, and profit maximization, Buddhist thought proposes an alternative paradigm grounded in ethical conduct, moderation, interdependence, and human flourishing. Drawing upon the Pāli Canon and modern interpretations of Buddhist economics, the study explores key principles such as Right Livelihood (sammā-ājīva), the Middle Way (majjhimā paṭipadā), non-attachment (anupādāna), generosity (dāna), and dependent origination (paṭiccasamuppāda). The article argues that Buddhist economics offers a holistic framework integrating material sufficiency with moral and psychological well-being. By addressing structural inequality, environmental sustainability, and ethical responsibility, Buddhist economics contributes to peacebuilding and the reduction of structural violence. The study concludes that Buddhist economic thought offers valuable conceptual resources for developing a compassionate and sustainable global economy.