Papers by Walpalage Nimna hansika
This paper examines the role of a savings culture as a foundation for economic sustainability thr... more This paper examines the role of a savings culture as a foundation for economic sustainability through the comparative lenses of Buddhist economics and Keynesian economic theory. While both frameworks acknowledge the importance of saving, they diverge in purpose and philosophical grounding. Keynesian economics, developed during the Great Depression, emphasizes spending and government intervention to sustain aggregate demand and full employment, viewing excessive saving as potentially harmful to economic growth. In contrast, Buddhist economics regards saving as a moral and spiritual discipline rooted in moderation, mindfulness, and non-attachment, aligning with the principles of the Middle Path and Right Livelihood. Drawing upon canonical texts such as the Sigalovada Sutta and Dighajanu Sutta, this study highlights how Buddhist teachings promote balanced consumption, ethical wealth management, and community well-being. The paper further discusses the relevance of integrating Buddhist ethical thrift with Keynesian pragmatic policies, particularly in the context of developing economies like Sri Lanka. Ultimately, it argues that harmonizing moral and material dimensions of saving can foster long-term economic resilience and sustainable development.
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Papers by Walpalage Nimna hansika