Transcript Economics of various religions

Economics of various religions
Embeddedness or modification of
behaviors
• http://www.mapsofworld.com/worldreligion-map.htm
Spiritual versus material values
• Buddhism as spiritual liberation and the
faith providing the instruments for this goal
• Developed in India more present in China
and Japan
• Satisfice instead of satisfy approach
• Self-sufficiency and greater emphasis on
local markets
• Preservation of non-renewable resources
Buddhist Economics?
• Sri Lanka. Thailand, Burma, Laos,
Cambodia: in some of these places the
religious belief overriden by MarxismLeninism (Buddhist socialism)
• Discouraged capital investment and slow
economic growth, favoring construction of
temples instead
Confucianism
• Singapore, Taiwan, increasingly China
(after being suppressed by Maoism)
• Benevolence, righteousness, propriety,
wisdom and faithfulness
• Vertical hierarchy and filial piety
• Ambivalence with regard to laissez faire
markets especially externally
Hinduism
• Hereditary caste positioning of individuals
and limited choices and mobility
• Self rule and self sufficiency
• Opposition to industrialization
(dependence on external powers) and
strong nationalism
• The concept of the appropriate technology
Judaism
• The emphasis on redistribution of income
• The Jubilee Year concept and a return to
the economic order
• Operating in the hostile environment
• A propensity to collectivism and
communalism (kibbutz)
Christianity
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Justice and fair price
Interest charging
Welfare and compassion
Protestant ethic, Max Weber and market
development or Utopian communities?