Phan, Richard See all items with this value

2006

7

192-213

1530-4108 See all items with this value

Economically, the current globalization is the inevitable effects of various causes, namely the liberation of people from colonialism, the removal of national trade barriers, the pressure for improving people’s material life, the advancement of information and transportation technology, etc… It emerges without prior preparation in terms of structure and regulations of an essential regulatory mechanism, in terms of making it ready for psychological acceptance by people affected, and specially in terms of establishing common goals for its development which can benefit every people involved. These deficiencies create anarchy in the direction it goes, and disorder and manipulation in its operation. There is consequently a quest for guidance of the current globalization of business so that the world can be a safe, healthy, and wealthy place to live, not for this generation only, but also for the next ones.

The paper has proved that Buddhism is the appropriate guide for this globalization of business. Those concepts and doctrines like the Middle Path, the Right Livelihood, Impermanence, Interdependence, Altruism, the Balanced Attitude (equanimity), Cause-Effect Process, the four-phase object development, etc… are values that can help to cure the existing illnesses generated by the globalization of business, to direct the latter toward a harmonized and benefiting global economic system, and to create an appropriate condition for future economic transformation to be a good one.

The paper summarizes by a chart representing a model for future business and economic development under the light of Buddhist values and wisdom.