GREEN ECONOMY COMMUNITY MODEL DERIVED FROM BUDDHIST ECONOMICS

Abstract

This study aims to 1) study the Buddhist Economic principles and their effects on society, 2) investigate the green economic concepts and benefits of green cities, and 3) develop a Green Economy Community model for sustainability. This qualitative research is investigated with in-depth interviews. The findings of the study indicate that Buddhist economic principles can be applied to economic issues as a way of life. Buddhism envisions balanced production and consumption as a means of achieving life satisfaction and self-sufficiency, as well as a method for organizing people to coexist in harmony. This results in production-oriented economic management and the integration of production elements that support the economy, society, and culture, thereby integrating theory and practice to propel society toward sustainability. Buddhist economics equates the fundamental purpose of life with the quality of life, which emphasizes genuine welfare and a simple desire rather than material accumulation as the path to true happiness. Concerning the green economy, it is a long-term strategy to address problems and lessen the environmental impact of all economic activities. The green economy consists of ‘inputs’, ‘processes’, and ‘outputs.’ Input elements assess the sustainability of a resource, while process dimensions evaluate the resource effectiveness of production operations and their environmental tolerance. Moreover, the green economy requires genuine and shared wealth, with human capital, society, and the environment constituting a pillar. For economic, social, and environmental sustainability, green city concepts necessitate a balance between the three factors. Sustainability in accordance with the green economy is an essential structural change that elevates awareness of the environmental, energy, and socioeconomic situation in order to preserve the environment and balance sustainable solutions. The fundamental concepts of Buddhist integrated economics must be combined with the established principles of the green economy to create a green, tranquil, and environmentally sustainable green community.