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Home / Journal of Management, Spirituality & Religion, Volume 18, Number 1

Buddhist Values for Creating Mindful Markets

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The ultimate goal of Buddhist life is to reach enlightenment and put an end to suffering. From this perspective, the goal of human life can be defined as inner development – that is, ethical and spiritual growth that requires only a minimum level of material comfort (food, clothes, shelter, education, and medicine). This paper introduces principles and guidelines for individual behavior and business organizations derived from the Buddhist worldview. The paper argues that the realization of Buddhist values is needed for creating mindful markets in which mindful consumption and mindful entrepreneurship are mutually reinforcing. Mindful consumption can be defined as conscious consumption that is (i) wise (it supports the genuine well-being of individuals), (ii) non- violent (does not involve hurting other sentient beings), and (iii) compassionate (it helps others to satisfy their needs). Mindful entrepreneurship involves the application of Buddhist values and virtues in business activities, including production and trade.

Keywords: BUDDHIST ECONOMICS; BUDDHIST VIRTUES; ENLIGHTENMENT; INNER DEVELOPMENT; MINDFUL MARKETS

Document Type: Research Article

Publication date: February 1, 2021

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  • The Journal of Management, Spirituality & Religion (JMSR) now in its twenty second year, is the leading journal in this subfield of scholarship, housing the largest collection of academic work linking the disciplines of business, management and organization, religious studies, practical theology and philosophy, as well as the social sciences more generally. A truly interdisciplinary bridge journal, JMSR is highly regarded, listed in five categories by Scopus at the 96th percentile (Scopus 2024); at the top 10% of journals in its category (33/340) in Clarivate Journal Citation Indicator (Clarivate, 2024) and at 0.884 impact by Cabells (out of a maximum of 1.00). A hybrid journal, JMSR offers a Gold Open Access option to interested authors, but otherwise submission and publication are free of charge. JMSR thrives to fulfil its pivotal role as a bridge journal between business & management, the social sciences and the humanities, as the prime forum for disseminating empirical data, developing theory, reporting best practice, and for the exchange of ideas and debate.
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