Fourth Industrial Revolution and Buddhist Economic Morality

ABSTRACT

There are positive prospects and bleak outlooks on Fourth Industrial Revolution. But the accompanying development and practical application of Fourth Industrial Revolutions high technologies may be unavoidable, and therefore we should make efforts to avoid the tragic situations of mass unemployment and humankind may be gone out of existence or degraded to the useless beings. To do this, controls over the selfish and short-sighted activities of economic units including commercial company are essential. But contemporary capitalism does not admit the necessity of aggressive regulations about the selfish and short-sighted activities and allows free pursuit of profit of economic units. Thus contemporary capitalism could not provide the effective theories and grounds. On the contrary, Buddhist thoughts and economic morality not only admit the necessity of control over human desire by middle way, but also underline the economic, legal & ethical, philanthropic responsibilities among CSR (Corporate Social Responsibility), for this reason, accept the optimistic prospect of Fourth Industrial Revolutions high technologies positively and provide the theories and grounds that could overcome the future gloomy situations.