Mindfulness and Buddhist economics in the financial market–generating Delta or Alpha?

Abstract

The financial market is undeniably the prime exemplar of capitalism where practitioners compete under intense pressure to excel in decision making every nanosecond. This unrelenting pursuit of outperformance is limited by human physical and mental capacities to make decisions based on the available technology and information. This paper reviews the state of contemplative practices as a form of “mind technology” in the financial market. In order to deliver outperformance, financial Alpha, in the market, this mind technology seems to suggest that it is important to engage in contemplative practices so that our brainwaves could transcend from the faster neural Gamma and Alpha waves to the slower and advanced state of neural Delta waves. This research looks into the benefits of these contemplative practices, particularly in decision making and management. It then evaluates the potential integration and conflict between contemplative practices and material pursuits. It argues that while contemplative practices are conducive to better decision making and management, they have not reached their full potential. It explores the potential unique contribution of Buddhist Economics and offers some avenues for the modern mindfulness movement to rethink how we could develop our mental capacities to cope with the challenges in the market economy.