Economics of various religions

Embeddedness or modification of behaviors

• http://www.mapsofworld.com/world-religion-map.htm

Spiritual versus material values

• Buddhism as spiritual liberation and the faith providing the instruments for this goal

• Developed in India more present in China and Japan

• Satisfice instead of satisfy approach

• Self-sufficiency and greater emphasis on local markets

• Preservation of non-renewable resources

Buddhist Economics?

• Sri Lanka. Thailand, Burma, Laos, Cambodia: in some of these places the religious belief overriden by Marxism- Leninism (Buddhist socialism)

• Discouraged capital investment and slow economic growth, favoring construction of temples instead

Confucianism

• Singapore, Taiwan, increasingly China (after being suppressed by Maoism)

• Benevolence, righteousness, propriety, wisdom and faithfulness

• Vertical hierarchy and filial piety

• Ambivalence with regard to laissez faire markets especially externally

Hinduism

• Hereditary caste positioning of individuals and limited choices and mobility

• Self rule and self sufficiency

• Opposition to industrialization (dependence on external powers) and strong nationalism

• The concept of the appropriate technology

Judaism

• The emphasis on redistribution of income

• The Jubilee Year concept and a return to the economic order

• Operating in the hostile environment

• A propensity to collectivism and communalism (kibbutz)

Christianity

• Justice and fair price

• Interest charging

• Welfare and compassion

• Protestant ethic, Max Weber and market development or Utopian communities?