Phật Giáo Singer, Tania. Caring Economics, conversations between scientists, economists and the Dalai Lama

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Foreword

His Holiness the Dalai Lama

Today, we live in a truly interconnected world. In today’s global economy, the destinies of peoples across nations, even continents, have become deeply intertwined. This unprecedented level of economic integration has brought prosperity to many and raised people’s standard of living. However, there is no denying that it has also exacerbated the growing gap between rich and poor, not only between nations but also within nations themselves.

Concern about how to bridge this gap between rich and poor prompts many questions. Can something be done to make our economic systems fairer? Is the basic premise of our modern capitalist system—that the market’s invisible hand will ensure self-sustaining efficiency—valid in today’s globalized world? Is there any place for powerful positive human motivation, such as altruism, in our economic systems, or is the common assumption that selfish behavior reaps greater rewards correct? Is growth measured in terms of GDP (gross domestic product) really the best indicator of a nation’s economic progress? Finally, and perhaps most important of all, we need to examine the connection between economic systems and our quest for happiness.

In April 2010, a group of people came together in Zurich, Switzerland, under the auspices of the Mind and Life Institute to discuss these and other questions over two days. The main question, “What is the relevance of pro-social motivation and altruism in competitive systems such as the dominant Western economic system?,” took on added relevance in light of the 2008 global financial crisis. Participants included psychologists, contemplative scientists, and neuroscientists working on the foundations of economic decision making, cooperation, pro-social behavior, empathy, and compassion, and others working on innovative economic systems. I had the good fortune to be part of this stimulating conversation.

It became increasingly clear that fundamental rethinking needs to take place in the field of economics. Economics needs to broaden its horizons. Questions of fairness and more equitable distribution, as well as larger social and environmental impacts, need to be taken into account. There is a growing realization that ethics and compassion in economics are equally important; after all, economics involves human activity and the basic goal of promoting greater happiness and alleviating suffering.

I am happy to know that with the publication of this book, Caring Economics, the rich and thought-provoking exchanges that took place at the Zurich meeting can be shared with many other interested individuals. I am grateful to everyone whose contribution made the meeting and the book possible. The kind of economic system we should have is a question relevant not only to experts but also to each and every one of us. I look forward to the emergence of a new kind of economic system that combines the dynamism of the market with an explicit concern for more equitable distribution of its fruits. I hope that the discussions revealed in these pages will serve as a catalyst for bringing that about.

JUNE 27, 2014