
This study explores the application of the Buddhist principle of Paticcasamuppāda (Dependent Origination) in analyzing the 1997 Asian Financial Crisis, commonly known as the "Tom Yum Kung" crisis. This crisis, marked by financial liberalization, speculative investments, and inadequate risk management, demonstrated the systemic vulnerabilities within Thailand’s economic structure. Through the lens of Paticcasamuppāda, this crisis can be understood as a chain reaction where economic decisions and external pressures accumulated into a major collapse. Key factors include ignorance (Avijjā) of financial risks, misguided policy actions (Saṅkhāra), and the persistence of a fragile financial system (Bhava). By adopting this Buddhist perspective, the study highlights the importance of mindful economic planning and sustainable governance. In addition, the study advocates for integrating awareness of interdependence and impermanence into economic strategies, fostering resilience in a globalized financial environment.
Buddhist Economics, financial liberalization, Paticcasamuppāda, tom yum kung crisis, Economic Vulnerability, paticcasamuppāda, Buddhism, buddhist economics, BQ1-9800, Tom Yum Kung Crisis, economic vulnerability, Financial Liberalization
Buddhist Economics, financial liberalization, Paticcasamuppāda, tom yum kung crisis, Economic Vulnerability, paticcasamuppāda, Buddhism, buddhist economics, BQ1-9800, Tom Yum Kung Crisis, economic vulnerability, Financial Liberalization
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