ECON 288D – Buddhist Economics

Four credits
Three weeks in Costa Rica; one week on campus
Professor Jamie Casey

This course begins where Oxford Economist, E.F. Schumacher left off. In his 1973 classic, Small is Beautiful: Economics as if People Mattered, Schumacher introduced the idea of Buddhist Economics. In a nutshell, what if people mattered more than stuff? Imagine an Economy based on the Buddhist Principle of Right Livelihood? Then, in 2015, UC-Berkeley Economist, Clair Brown codified the sub-discipline of Buddhist Economics -- presenting an alternative to Neo-Classical thought.

This course is an exploration of Buddhist Economics with an emphasis on applying these ideas to the current US Economy. We will explore the basic philosophical underpinnings of “Right Livelihood,” and what that means for individual and collective behavior in the 21st Century economy, as we know it. We explore questions related to craving, employment, production, profits, and how we organize our economy. This will entail reading across disciplines -- including, but not limited to -- Economics, Philosophy, Sociology, Neuroscience, and Religion. Additionally, we will explore the latest findings on altruism, compassion, and mindfulness and apply this to imaging a new economic system -- a system where people matter.

I invite you on a journey -- an exploration of self and society. Why do we organize and interact the way we do? What is an economic system and what is its purpose? What do we crave, why do we crave it, and how do we get it?

Why Costa Rica and, more importantly, why Buddhist Economics in Costa Rica?

If the primary emphasis of Buddhist Economics is to treat all sentient beings with respect and compassion, then Costa Rica is as close to a living laboratory as we have in the Western Hemisphere. Currently, ranked first on the Happy Planet Index (US is 122nd), which compare countries by how efficiently they are creating long, happy lives using our limited environmental resources. Costa Ricans live (on average) to 80 years old; they receive universal access to healthcare and education and derive 95% of their electricity from renewables. Additionally, Costa Rica ranks 12th in the World Happiness Report - behind primarily Scandinavian countries, (US is 23rd). So, what can our neighbor to the south teach us about happiness, longevity, and environmental sustainability? In addition to our exploration of Buddhist Economics -- we will visit numerous small businesses, including, but not limited to, eco-hotels, sustainable farms, ecotourism operators -- and we will explore the inner values associated with Buddhist Economics by practicing Yoga and Mindful meditation with professionals at our location.

Program fee (paid to W&L): $4,413
Includes programming, room, nearly all meals, and in-country transportation.

Additional costs: airfare, books, a few meals (~2 breakfast, ~2 lunches, and ~2 dinners), cell phone, spending money, passport, and visa fees (if applicable).

For further details, please reach out to Professor Casey.

The information session for this course will take place on October 6, 2025, at 7 pm via Zoom.