| Article |
|---|
| Article name |
Buddhist Economics in the Global Economy: Environmental and Social Limitations of an Alternative Development Model |
| Authors |
Tsyrenov D.D. Candidate of Economics, dashi555@mail.ru |
| Bibliographic description |
Tsyrenov DD. Buddhist Economics in the Global Economy: Environmental and Social Limitations of an Alternative Development Model. Transbaikal State University Journal. 2026;32(1):147-157. (In Russian). https://www.doi.org/10.21209/2227-9245-2026-32-1-147-157 |
| Category |
Economy |
| DOI |
УДК 339.97 |
| DOI |
https://www.doi.org/10.21209/2227-9245-2026-32-1-147-157 |
| Article type |
Original article |
| Annotation |
In the context of global crises and growing criticism of the gross domestic product growth paradigm, the search for alternative economic models that integrate environmental and social constraints is becoming more pressing. The research objective is to conduct an economic analysis of the Buddhist ethical principles transformation into specific economic policies and identify the contradictions in their integration into the global economic system. The object of this research is the models of socio-economic development of Buddhist countries, and the subject is the economic mechanisms of institutionalization of Buddhist ethical principles and the contradictions of their implementation in the conditions of the global market. The research is based on case study methodology and comparative institutional analysis. The Kingdom of Bhutan (Gross National Happiness strategy) and the Kingdom of Thailand (philosophy of sufficient economy) serve as case studies. The materials include national strategic documents, economic reports, data from international organizations, and theoretical works in the field of Buddhist and evolutionary economics. It has been established that the Buddhist economic model, formalized through the priority of non-material well-being, moderation, and the internalization of externalities, has been partially institutionalized in the form of budgeting instruments, investment regulation, and industrial policy. However, systemic economic contradictions have been identified between high socio-environmental standards and competitiveness, between sovereign planning and the need to attract foreign capital, and debt dependence as a consequence of active government redistribution policies. The Buddhist approach is not a cultural phenomenon, but a potentially viable alternative economic paradigm offering ready-made tools for a “green” transition and a well-being economy. Its practical implementation on a global scale requires overcoming the structural limitations of the current global economic system through the development of new investment metrics and modification of international trade rules.
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| Key words |
Buddhist economics, sustainable development, happiness economics, environmental externalities, gross national happiness, sufficient economics philosophy, institutional analysis, global value chains, alternative measures of progress, macroeconomic policy
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| Article information |
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| References |
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