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ISSN 2071-789X

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  • General Founder and Publisher:

    Centre of Sociological Research


  • Publishing Partners:

    University of Szczecin (Poland)

    Széchenyi István University, (Hungary)

    Mykolas Romeris University (Lithuania)

    Alexander Dubcek University of Trencín (Slovak Republic)

  • Membership:

    American Sociological Association

    European Sociological Association

    World Economics Association (WEA)




Contemplation for Economists. Towards a Social Economy Based on Empathy and Compassion

Vol. 10, No 3, 2017


Krzysztof T. Konecki,



University of Lodz, 

Lodz, Poland,



Contemplation for Economists. Towards a Social Economy Based on Empathy and Compassion







Abstract. The goal of the paper is to present the Buddhist approach to the economy and what we can learn from it. It demonstrates David Loy’s analysis of the meaning of money from the Buddhist perspective. Money becomes a reality symbol and an ego symbol. The paper also presents some conclusions from analysis of Buddhist prescriptions to the economic system according to Frederic Pryor.

Stress is put on compassion and ethics, which show the ubiquitous interconnectedness that works for the well-being of the whole society/societies. The Buddhist approach to the economy is connected with pro-social values and compassion, and this paper looks at the contemporary economy and society from this point of view. Contemporary organizations are based on the greed, which is a feature not only of individuals but also of institutions (institutionalized greed). Work on the self-ego is an important practice (contemplation, mindfulness practice and meditation) in limiting or eliminating greediness in the social and economic system in which we are immersed, but usually not aware of.


Received: December, 2016

1st Revision: March, 2017

Accepted: June, 2017


DOI: 10.14254/2071-789X.2017/10-3/1

JEL ClassificationA13, Z13

KeywordsBuddhism; economy; money; institutionalized greed; meditation; contemplation.