By Vaḍḍhaka Linn
After his Enlightenment the Buddha got down to aid unencumber the person, and create a society unfastened from pain. the industrial assets now exist to provide a pragmatic threat of delivering every body with first rate nutrients, protect, paintings, and relaxation to permit each one to satisfy their capability as humans, when keeping the surroundings. what's it within the nature of contemporary capitalism that forestalls that taking place? Can Buddhism aid us construct anything higher than our present economic climate, to lessen discomfort and aid the person to freedom? during this thought-provoking paintings Vaḍḍhaka Linn explores solutions to those questions through analyzing our fiscal international from the point of view of Buddhism.
“The Buddha on Wall Street is an unique, insightful, and provocative overview of our financial state of affairs this present day. in the event you ask yourself concerning the social implications of Buddhist teachings, this is often an important book.” —David R. Loy, writer, Money, intercourse, battle, Karma: Notes for a Buddhist Revolution
“Many Western Buddhists regard Buddhism as basically a route to own perception and internal peace, therefore as a digital get away direction from the insanity of the trendy global. but deep in the Dharma are the seeds for a brand new imaginative and prescient of human relatedness, an internet of rules approximately how our social and monetary platforms can advertise real wellbeing and fitness instead of the oppression, violence, and exploitation so frequent this present day. Vaḍḍhaka Linn right here boldly makes use of the lens of Buddhism to heavily study the dominant constructions of company capitalism. He lays naked the pernicious outcomes of those buildings and attracts forth from the Dharma its feedback for growing benign possible choices conducive to real human flourishing. This e-book is helping us to raised see the Dharma as a finished message that has a lot to supply to the emergent international neighborhood in its broadest dimensions. it may additionally aid Buddhists to appreciate extra sincerely the aptitude relevance of Buddhism to the crises of our age.” —Bhikkhu Bodhi, editor, In the Buddha’s Words
“Buddhism arose at a time of emerging inequalities, in part as a solution as to find out how to behave in, comprehend, and therapy such instances. The Buddha on Wall Street is a useful consultant to how this time, confronted back with main issue, there are options to believing there is not any alternative.” —Professor Danny Dorling, college of Geography and the surroundings, college of Oxford, and writer, Inequality and the 1%
“Slavoj Žižek has written that Western Buddhism is the ‘perfect ideological supplement’ to capitalism. Žižek the provocateur thinks Western Buddhism is complacent concerning the poor harms of unbridled neoliberal capitalism. Vaḍḍhaka Linn’s essay makes the argument for an activist Buddhism that responds to Žižek’s challenge.” —Professor Owen Flanagan, division of Philosophy, Duke college, and writer, The Bodhisattva’s mind: Buddhism Naturalized
“Do ever better source of revenue degrees bring about higher human fulfilment? Vaḍḍhaka Linn does a good activity exposing the fake accounting of social ills that make it right into a checklist of products as measured in GDP information. extra essentially, he questions any definition of wellbeing and fitness that doesn't leisure on a company moral origin, constructing a fresh Buddhist critique of the ends of financial activity.” —Dominic Houlder, Adjunct Professor in technique and Entrepreneurship, London company college
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Additional resources for The Buddha on Wall Street: What’s Wrong with Capitalism and What We Can Do about It
The debt was owed primarily to the World Bank, the IMF, and the New York private banks that had been liberated under Nixon from the capital restraints built into the original Bretton Woods structure. As detailed below, bailout packages from the World Bank and IMF came with stringent conditions: Friedman’s neoliberal prescription of privatisation, deregulation and cutbacks on government spending. The structural adjustment programmes became the ultimate means of American control over a soon-to-be-neoliberalised global economy.
1 The United States was embargoed, and the crisis impacted on the US economy, but less so than it did other countries. The US was a domestic producer of oil, and therefore less dependent on OPEC and the Middle East. The how and why of Nixon colluding with the Saudis to quadruple the price of oil as a result of the embargo is examined in more detail in Chapter 9. The OPEC oil crisis followed the October 1971 decision by the Nixon administration to remove the US from the gold standard, which had been one of the major planks of the 1944 Bretton Woods 37 Doran T02525 01 text 37 02/04/2012 08:25 38 Making the World Safe for Capitalism Accord, which had established the World Bank and the International Monetary Fund.
Formed in 1972, the BRT’s membership included most of the Fortune 100 companies, which produced almost half of the US gross national product. 12 Other industries formed their own lobby groups, and along with mega-groups like the BRT and National Association of Manufacturers, there followed the formation of think tanks, financing of university departments, and a coordinated and consolidated attack against any and all legislation that hindered business and protected consumers. 13 Doran T02525 01 text 24 02/04/2012 08:25 A Full-Scale Economic Overhaul 25 Think tanks are the public policy arm of both the right and the left.
The Buddha on Wall Street: What’s Wrong with Capitalism and What We Can Do about It by Vaḍḍhaka Linn