Which characteristics of this model relate to Buddhism? Thai Buddhist economic model By Kalinga Seneviratne In the last two decades, Buddhism’s appeal has grown in the West, drawing people seeking a calm not found in the fast-paced world of Internet-driven commerce and communications. Its economic model has been endorsed by the United Nations.

Bangkok, Thailand – While Bhavana (Buddhist meditation), has become a form of modern psychotherapy and influenced Western lifestyles, is there anything in the religion’s 2,500-year-old teachings that could influence modern economics?

According to Thailand’s much revered King and lately members of the [new military installed] government and a growing number of economists and grassroots development activists, the answer is, yes, there is. They call it ‘Sufficiency Economics’, a term coined by King Bhumibol Adulyadej in the midst of Thailand’s economic meltdown in 1997. It embraces the three pillars of Buddhism – dana (giving), sila (morality) and bhavana (meditation) – and is based on the Buddhist principle of the ’Middle Path’, that is avoidance of extremes (of greed).