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The Buddha on Wall Street: What s Wrong with Capitalism and What We Can Do about It
After his Enlightenment the Buddha set out to help liberate the individual, and create a society free from suffering. The economic resources now exist to offer a realistic possibility of providing everyone with decent food, shelter, work, and leisure, to allow each of us to fulfill our potential as human beings, while protecting the environment. What is it in the nature of modern capitalism which prevents that happening? Can Buddhism help us build something better than our current economic system, to reduce suffering and help the individual to freedom? In this thought-provoking work, Vaddhaka Linn explores answers to these questions by examining our economic world from the moral standpoint established by the Buddha. Having completed a degree in economics, Vaddhaka Linn initially worked in the United Kingdom in trade unionism, politics, and adult education, before joining the Triratna Buddhist Community, in which he has lived and worked since 1994. He now divides his time between the United Kingdom and Estonia, where he teaches and helps to run a Buddhist center
272 pages, Paperback
First published June 9, 2015
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Displaying 1 - 11 of 11 reviews
January 26, 2022
- แม้จะเต็มไปด้วยข้อมูล/รายละเอียดนั้นนี้จนดูยุ่งเหยินและทำให้ย่อยยากไปหน่อย แต่ยังหนังสือก็ยังดีและน่าสนใจอยู่ดี
- จริงๆไม่ชอบหนังสือตรงที่นักเขียนสัมมาฐานงานแบบWhat Money Can't Buyของแซนเดล ซึ่งเป็นงานที่เราพึงอ่านไปปีก่อน อ่านแล้วก็ไม่ชอบเพราะศีลธรรมแบบแซนเดลในงานชิ้น ดูกลวง เบา นาอีฟ ไม่ลึกซึ้ง แถมศีลธรรมแบบนั้นก็ตามพลวัตของทุนนิยมแบบเสรีไม่ทันด้วย เป็นศีลธรรมของคนดีแบบลิเบอรัลในจักรวรรดิอเมริกาอย่างแท้จริง แต่กลายเป็นว่าคุณลินท์กลับเอาศีลธรรมแบบแซนเดลมาอ่านใหม่แบบพุทธ ซึ่งกลายเป็นว่ามันรีเลทและจำต้องได้ (ไหว้)
- ชอบความเป็นพุทธในหนังสือมาก เรานึกว่านักเขียนจะยัดเหยียดหลักคำสอนคลีเช่ๆเพื่อสอนใจผู้คนในโลกตะวันตก แต่กลายเป็นว่าลินท์เลือกที่จะปฎิบัติศาสนาพุทธเป็นปรัชญามากกว่า และปรัชญาแบบพุทธมันก็omnipresentจริงๆ ปรากฎได้ทุกในอนุชีวิต ตั้งแต่การมีaltruism การสร้างชุมชน เรื่อยไปยันในบทความ ในบทกวี และ ในปถุชน การเป็นที่ลินท์เป็นสมาชิกพุทธไตระ บ่มเพาะเขาได้ดี
- ชอบการที่ลินท์เลือกที่จะพูดถึงดร.อัมเบดการ์มากกว่าจะพูดถึงคานธี(ซึ่งไม่ได้เอ่ยถึงเลยทั้งเล่ม เป็นนัยยะ ที่น่าสนใจดี)
- ชอบการพูดถึงการทำวิจัยนกมงกุฎหัวขาวเรื่องที่มันไม่หลับไม่นอนได้ถึง7วัน โดยจุดมุ่งหมายของวิจัยนี้คือการทำให้มนุษย์ไม่ต้องหลับแบบนั้นบ้าง
- จริงๆไม่ชอบหนังสือตรงที่นักเขียนสัมมาฐานงานแบบWhat Money Can't Buyของแซนเดล ซึ่งเป็นงานที่เราพึงอ่านไปปีก่อน อ่านแล้วก็ไม่ชอบเพราะศีลธรรมแบบแซนเดลในงานชิ้น ดูกลวง เบา นาอีฟ ไม่ลึกซึ้ง แถมศีลธรรมแบบนั้นก็ตามพลวัตของทุนนิยมแบบเสรีไม่ทันด้วย เป็นศีลธรรมของคนดีแบบลิเบอรัลในจักรวรรดิอเมริกาอย่างแท้จริง แต่กลายเป็นว่าคุณลินท์กลับเอาศีลธรรมแบบแซนเดลมาอ่านใหม่แบบพุทธ ซึ่งกลายเป็นว่ามันรีเลทและจำต้องได้ (ไหว้)
- ชอบความเป็นพุทธในหนังสือมาก เรานึกว่านักเขียนจะยัดเหยียดหลักคำสอนคลีเช่ๆเพื่อสอนใจผู้คนในโลกตะวันตก แต่กลายเป็นว่าลินท์เลือกที่จะปฎิบัติศาสนาพุทธเป็นปรัชญามากกว่า และปรัชญาแบบพุทธมันก็omnipresentจริงๆ ปรากฎได้ทุกในอนุชีวิต ตั้งแต่การมีaltruism การสร้างชุมชน เรื่อยไปยันในบทความ ในบทกวี และ ในปถุชน การเป็นที่ลินท์เป็นสมาชิกพุทธไตระ บ่มเพาะเขาได้ดี
- ชอบการที่ลินท์เลือกที่จะพูดถึงดร.อัมเบดการ์มากกว่าจะพูดถึงคานธี(ซึ่งไม่ได้เอ่ยถึงเลยทั้งเล่ม เป็นนัยยะ ที่น่าสนใจดี)
- ชอบการพูดถึงการทำวิจัยนกมงกุฎหัวขาวเรื่องที่มันไม่หลับไม่นอนได้ถึง7วัน โดยจุดมุ่งหมายของวิจัยนี้คือการทำให้มนุษย์ไม่ต้องหลับแบบนั้นบ้าง
August 13, 2016
Initially I had high hopes for this book, but it felt that each chapter was introductory rather than enlightening. Reading the conclusion my head was ringing with the question "Who is Linn writing this for?". There are two unforgivable flaws; lack of dharma and lack of women.
November 30, 2018
A clear and easy to understand introduction to a selection of economic theories which have driven developed economies to the self absorbed place we now experience. One of the concluding chapters suggests ways we might respond when we are motivated by ethics rather than greed.
January 18, 2019
Good start, but don't let it be the finish.
Good place to start on the intersection of Buddhism and Economics, but only as a quick and easy overview. The picture would be quite incomplete without follow-up reading. Luckily the book is full of recommended further reading. This perhaps is it's biggest strength.
Good place to start on the intersection of Buddhism and Economics, but only as a quick and easy overview. The picture would be quite incomplete without follow-up reading. Luckily the book is full of recommended further reading. This perhaps is it's biggest strength.
May 3, 2015
The Buddha on Wall Street is is a good survey of the socially engaged approach to Buddhism, which brings Buddhist teachings into relationship with the most pressing issues in our society: community, work, the environment, waste, inequality etc. Vaddhaka is a good friend of mine and we have often discussed these issues together. He has a grasp of economics that is rare among the Buddhist voices speaking out on social issues and a deep commitment to the ideal of creating a better world. Of the books on this theme, I recommend Vaddhaka's as a clear, comprehensive and accessible overview. There are areas where my own thoughts diverge somewhat from Vaddhaka's: what we can learn about society from the Buddhist scriptures; the lessons we can draw from the experience of Triratna; and the significance of the mindfulness movement. I hope to write about them on my blog (www.wiseattention.org).
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July 6, 2020Vaddhaka Linn in his work “The Buddha on Wall Street: What’s wrong with capitalism and what we can do about it” explores the nuances of Capitalism from a Buddhist perspective. These seemingly disparate philosophical approaches come together in an unexpected way as Linn argues that Buddhist thinking may be the only way to remedy some of the consequences of Capitalism.
The book begins by explaining the development of capitalism and some of the changes it has undergone over the years. Linn attributes the formation of modern Capitalism to Adam Smith’s Wealth of Nations in which Smith theorizes that competition and a deregulated free market will lead to wealth accumulation and economic growth. Linn suggests that today many staunch advocates of of Smith’s ‘free market’ capitalism tend to neglect other parts of Smith’s work which explain how this type of economic structure stifles creativity, facilitates inequality, and leads to a monotony in the workplace.
After Linn sets up the modern dilemma that capitalists face, he begins to explore how Buddhist tenets might provide some guidance on alleviating the suffering that capitalism imposes. Linn suggests that while capitalism encourages the consumption and desire of new commodities, Buddhism can offer a form of capitalism in which we invest our resources in things that invigorate our spirit and facilitate mindfulness.
This work made me question the way I consume things because it made me think again about what I actually desire. For instance, media and advertising condition our expectations for things like technology. The release of new technology seems to make the old version seem irrelevant even when organizations like MCFS and PCs for People are proving that “old technology” is immensely powerful if put back in the right hands.
Linn also challenges, through a Buddhist lens, the insatiable growth of Capitalism. Quoting another economist, E.J. Mishan, ‘the precondition of sustained growth is sustained discontent’. Capitalism, in an ideal situation involves economic growth, which requires demand, which requires innovation, and companies that innovate are able to flourish. However, this gets caught up when companies supplant ‘innovation’ for what Linn describes as ‘envy’. Companies’ ability to make consumers desire what they don’t have and what others do has in turn stifled innovation. My interpretation of Capitalism is therefore a vicious cycle: Economic growth requires demand, demand requires inequality, inequality breeds envy, envy fuels economic growth. In British economist Tim Jackson’s disenheartening, but powerful words ‘It’s a story about us, people, being persuaded to spend money we don’t have, on things we don’t need, to create impressions that don’t last, on people that we don’t care about.’
Overall I would highly recommend this book to anyone struggling with their interpretation of Capitalism and the subsequent existential crisis that may follow. Though Linn doesn’t answer all the questions or address all the challenges that Capitalism brings us, he does illustrate some ways to exist in a more conscious way within this system.
The book begins by explaining the development of capitalism and some of the changes it has undergone over the years. Linn attributes the formation of modern Capitalism to Adam Smith’s Wealth of Nations in which Smith theorizes that competition and a deregulated free market will lead to wealth accumulation and economic growth. Linn suggests that today many staunch advocates of of Smith’s ‘free market’ capitalism tend to neglect other parts of Smith’s work which explain how this type of economic structure stifles creativity, facilitates inequality, and leads to a monotony in the workplace.
After Linn sets up the modern dilemma that capitalists face, he begins to explore how Buddhist tenets might provide some guidance on alleviating the suffering that capitalism imposes. Linn suggests that while capitalism encourages the consumption and desire of new commodities, Buddhism can offer a form of capitalism in which we invest our resources in things that invigorate our spirit and facilitate mindfulness.
This work made me question the way I consume things because it made me think again about what I actually desire. For instance, media and advertising condition our expectations for things like technology. The release of new technology seems to make the old version seem irrelevant even when organizations like MCFS and PCs for People are proving that “old technology” is immensely powerful if put back in the right hands.
Linn also challenges, through a Buddhist lens, the insatiable growth of Capitalism. Quoting another economist, E.J. Mishan, ‘the precondition of sustained growth is sustained discontent’. Capitalism, in an ideal situation involves economic growth, which requires demand, which requires innovation, and companies that innovate are able to flourish. However, this gets caught up when companies supplant ‘innovation’ for what Linn describes as ‘envy’. Companies’ ability to make consumers desire what they don’t have and what others do has in turn stifled innovation. My interpretation of Capitalism is therefore a vicious cycle: Economic growth requires demand, demand requires inequality, inequality breeds envy, envy fuels economic growth. In British economist Tim Jackson’s disenheartening, but powerful words ‘It’s a story about us, people, being persuaded to spend money we don’t have, on things we don’t need, to create impressions that don’t last, on people that we don’t care about.’
Overall I would highly recommend this book to anyone struggling with their interpretation of Capitalism and the subsequent existential crisis that may follow. Though Linn doesn’t answer all the questions or address all the challenges that Capitalism brings us, he does illustrate some ways to exist in a more conscious way within this system.
September 21, 2020
This is a good basic account of economics, common sense Buddhism and current “events” (the reckoning with a wasteful, attention-grabbing, inequal capitalistic society).
The only issue I have is that Linn misreads the article by Zizek (mentioned in the Introduction) that sparked his urge to bring this book into fruition (which demonstrates the author's limited reading of what he criticizes). Zizek is criticizing "Western Buddhism" as seeking out the greener grass of the East as "the remedy against the stressful tension of capitalist dynamics", thus glorifying the Buddhist stance while neglecting to witness the centuries of religious dynamics (which includes the usual religious wars and fetishes along with the more commonly extracted psychological and physical practices). The author is promoting a gentler more socially aware version of this type of "Western Buddhism" and also criticizes this more “corporate” Western Buddism in the 7th chapter on the attention economy.
Evan Thomas describes this Western Buddhism in his Why I am Not a Buddhist as misrepresenting Buddhism. I believe the same thing occurs here in Linn's book. Linn may be a practicing Buddhist but he also criticizes Buddhists who criticize Buddhists for not following the more spiritual, religious tenets of Buddhism. Besides the semantic issue, the book holds up and makes full sense as a positive direction for our society. Buddhism could be exchanged for common sense living or simple living or socialism or Commons, etc. etc.
The only issue I have is that Linn misreads the article by Zizek (mentioned in the Introduction) that sparked his urge to bring this book into fruition (which demonstrates the author's limited reading of what he criticizes). Zizek is criticizing "Western Buddhism" as seeking out the greener grass of the East as "the remedy against the stressful tension of capitalist dynamics", thus glorifying the Buddhist stance while neglecting to witness the centuries of religious dynamics (which includes the usual religious wars and fetishes along with the more commonly extracted psychological and physical practices). The author is promoting a gentler more socially aware version of this type of "Western Buddhism" and also criticizes this more “corporate” Western Buddism in the 7th chapter on the attention economy.
Evan Thomas describes this Western Buddhism in his Why I am Not a Buddhist as misrepresenting Buddhism. I believe the same thing occurs here in Linn's book. Linn may be a practicing Buddhist but he also criticizes Buddhists who criticize Buddhists for not following the more spiritual, religious tenets of Buddhism. Besides the semantic issue, the book holds up and makes full sense as a positive direction for our society. Buddhism could be exchanged for common sense living or simple living or socialism or Commons, etc. etc.
October 3, 2023
Really interesting sweep of a lot of different ideas, but none in very much depth. That’s ok I think, because it gave lots of jumping off points for further investigation. Just had to close my eyes any time Sangharakshita was mentioned - which was honestly a lot given Linn is a part of the Triratna community. But if you can see past that, this book has lots of fruitful things to say
June 27, 2021
Enjoyed it but only read half of this as reads like an academic essay, I found the style a little clunky at times but if I’d had more time, no doubt I’d have finished it. Was quite a useful reminder for me of economic theory; a subject I’d not studied for some time.
July 11, 2015
Interesting book for start thinking about alternative economic systems but I do not know why i expected more specifics.
August 13, 2015
Great discussion of economics and Buddhism.
Displaying 1 - 11 of 11 reviews