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A hybrid of Theravada ethics and Mahayana pragmatism in a capitalist framework

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Sri Lanka’s Economic Identity:

As described in last week’s column, Buddhism, beyond its spiritual teachings, has deeply influenced socio-economic life across Asia. Theravada and Mahayana, the two main branches of Buddhism, offer contrasting views not only on religious practice but also on economic principles. Both schools emphasise ethical behaviour, compassion, and non-attachment to material possessions. However, their divergent philosophical outlooks lead to varying interpretations of economic activity, wealth accumulation, and societal roles.

Foundations of Economic Thought

in Buddhism

The core teachings of Buddhism emphasise the Middle Path, which seeks a balance between indulgence and asceticism, ultimately aiming to reduce suffering dukkha. This principle informs both Theravada and Mahayana perspectives on wealth and economics. Central to this framework is the Buddhist understanding of interdependence and the moral implications of actions karma. Consequently, economic activities should adhere to ethical principles that promote collective well-being rather than personal greed.

Theravada Economic Concepts

Theravada Buddhism, prominent in countries like Sri Lanka, Thailand, Myanmar, and Cambodia, emphasses personal responsibility in the accumulation and use of wealth, focusing on individual liberation Nirvana. While wealth is not condemned, it is seen as a potential obstacle if it leads to attachment. Theravada promotes mindful use of resources through “right livelihood,” avoiding harm and supporting ethical professions. Wealth is valued when used for virtuous purposes like family support, charity, and donations to religious institutions. The practice of dana (generosity) is central, fostering spiritual growth. The laity supports the monastic community Sangha in exchange for spiritual guidance, creating an economic interdependence that limits materialism.

Mahayana Economic Concepts

Mahayana Buddhism, prevalent in East Asia, promotes a more inclusive spiritual practice through the Bodhisattva ideal, where individuals seek not only their own enlightenment but also the liberation of all beings. This collective outlook shapes its approach to wealth, viewing it as positive if used altruistically for the benefit of others. Mahayana emphasises collective well-being, encouraging large-scale philanthropy, social welfare, and efforts to reduce inequality. A key feature is its focus on compassionate action karuna, motivating wealthy individuals to address poverty’s root causes, contrasting with Theravada’s focus on personal morality in economic behaviour.

Wealth, Ethics, and Capitalism

In both Theravada and Mahayana Buddhism, wealth is viewed through an ethical lens, but with key differences. Mahayana emphasises social responsibility, making it more compatible with modern capitalist systems, where wealth creation can serve the greater good if aligned with ethical goals. In contrast, Theravada promotes a simpler lifestyle and cautions against excessive material accumulation, with the Sangha serving as a moral check on economic inequality. Mahayana’s focus on compassionate economics has led to socially conscious businesses in East Asia, prioritising sustainability, fair labor practices, and ethical products, aligning with the Bodhisattva ideal of serving humanity.

Comparative Critique

While Theravada and Mahayana both uphold the core Buddhist principles of ethical behaviour and compassion, their divergent views on wealth accumulation and economic activity offer distinct paths for addressing economic challenges.

Theravada’s Strengths: Its focus on personal morality ensures that economic actions are deeply rooted in individual ethical responsibility. It encourages a frugal lifestyle and mindful consumption, which can be a powerful antidote to modern consumerism. However, Theravada’s individualistic approach may be less equipped to address systemic inequality and economic injustice, as it emphasises personal liberation over societal transformation.

Mahayana’s Strengths: By contrast, Mahayana’s collective approach to enlightenment supports structural changes in economic systems. Its Bodhisattva ideal inspires a sense of social responsibility, motivating the wealthy to act for the benefit of society. This inclusive approach can lead to broader initiatives aimed at reducing poverty and inequality. However, it may also open the door to a more relaxed attitude toward wealth accumulation, as long as it is justified by altruistic intent.

Sri Lanka, as a predominantly Theravada Buddhist country, has a long history of intertwining its religious principles with governance and economic policies. However, a critical examination reveals that the country’s modern economic policies, shaped by globalisation and capitalism, increasingly diverge from traditional Theravada Buddhist concepts. While Sri Lankan society continues to emphasise Buddhist values in various aspects of life, its capitalistic economic structure suggests a closer alignment with the broader, more flexible economic interpretations found in Mahayana Buddhism.

Theoretical Theravada Economic Principles

Theravada Buddhism promotes the Middle Path, avoiding both extreme poverty and excessive materialism. Economic activity should follow ethical principles, particularly “right livelihood,” which discourages harmful or exploitative industries. While wealth isn’t inherently wrong, it can lead to attachment and suffering dukkha, so individuals are encouraged to use resources mindfully, focusing on supporting family, charity dana, and the monastic community Sangha. The Sangha serves as a moral guide, counterbalancing materialism, while laity supports monks through donations and alms, fostering mutual dependence that limits wealth concentration and promotes ethical resource use.

Sri Lanka’s Capitalistic Economic Policies

Since Sri Lanka’s economic liberalisation in 1977, the shift toward free-market principles and deregulation has moved the country away from a state-controlled economy toward a capitalist model focused on global trade and market competition. The rise of private enterprises, multinational corporations, and consumerism marks a significant departure from traditional Theravada Buddhist values of simplicity and non-attachment. Rapid urbanisation, tourism expansion, and increasing wealth inequality further highlight the alignment with capitalist ideals, prioritising profit and material success over ethical concerns of wealth distribution and social equity, creating tension with Sri Lanka’s cultural and religious values.

Closer Alignment to Mahayana

Economic Principles

Theravada Buddhism promotes personal restraint in wealth usage, whereas Mahayana Buddhism, particularly in East Asia, adopts a more flexible approach. The Bodhisattva ideal encourages wealth accumulation if it’s used for societal welfare, aligning with capitalism when wealth is directed altruistically. Similarly, Sri Lanka’s capitalist policies embrace wealth accumulation, entrepreneurship, and international trade, with an increasing emphasis on corporate social responsibility (CSR) and philanthropy. Large corporations and wealthy individuals frequently contribute to charitable causes, echoing Mahayana principles of using wealth for the greater good, without necessarily limiting personal accumulation.

Consumerism and Buddhist Values

Sri Lanka’s growing consumer culture reveals a conflict between traditional Theravada values and the capitalist economy. The rise of materialism and status competition, especially in urban areas, contradicts Theravada’s teachings of contentment and non-attachment. Advertising and media drive the desire for luxury goods, fostering a consumption-driven lifestyle that opposes the Middle Path. Similar trends are seen in Mahayana Buddhist countries like Japan and China, where Buddhism has adapted to modern economic realities by emphasising charitable giving and social responsibility rather than strict asceticism.

Social Welfare and Wealth Redistribution

Sri Lanka’s current economic policies deviate from traditional Theravada teachings on wealth distribution, which emphasise supporting the Sangha and charitable acts to reduce inequality. Despite this, the country has experienced growing wealth disparities, with urban elites benefiting more from economic growth while rural and marginalised communities remain in poverty.

Sporadic welfare programs and redistributive policies, reflecting aspects of Mahayana Buddhism’s Bodhisattva ideal, attempt to address these issues. However, inefficiencies, corruption, and a capitalist system focused on profit over equity often undermine efforts like free education and healthcare.

The Role of Religion in Economic Life

Religion remains influential in Sri Lanka’s socio-economic landscape, with most citizens practicing Buddhism and engaging in acts of generosity (dana). However, a gap exists between these religious ideals and the realities of the capitalist economy. While donations to temples and acts of charity persist, they often reinforce existing socio-economic structures rather than challenge capitalism. Temples have increasingly become tied to capitalist enterprises, relying on donations from wealthy patrons who benefit from the system, reflecting a shift toward accepting wealth accumulation if it supports societal and religious welfare, resembling Mahayana Buddhist practices.

(The writer, a senior Chartered Accountant and professional banker, is a professor at SLIIT University, Malabe. He is also the author of the “Doing Social Research and Publishing Results”, a Springer publication (Singapore), and “Samaja Gaveshakaya (in Sinhala). The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official policy or position of the institution he works for. He can be contacted at saliya.a@slit.lk and www.researcher.com)



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Civilizational dialogue proving a remote possibility as realpolitik rages

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Political leaders at the Shanghai Cooperation Organization Summit 2026. (Photo by PROKOFYEV / POOL / AFP)

Looking back over the years since the 9/11 catastrophe, it could be said that barring former Iranian President Mohammad Khatami no world political leader of note has made an earnest effort to change the nature of global political discourse for the better. Khatami won world acclaim for his pronouncement that the time is right to launch and sustain a ‘Dialogue among Civilizations’.

This was in marked contrast to US political scientist Samuel P. Huntingdon’s epochal theses, formulated in the wake of 9/11 and other global political tumults that the Post Cold War era is essentially one of conflicts among civilizations. That is, people’s identity markers, such as culture and religion, are the prime shaping forces of international conflicts.

From a Political Realism standpoint, Huntingdon’s theory may seem to have gained in credibility over the years but it is Khatami’s pronouncement that has evoked an empathetic response in the hearts and minds of publics world wide. So much so, 2001 was proclaimed by the UN General Assembly as the ‘Year of Dialogue among Civilizations’.

It could be said that the latter proclamation was an endeavour to give back to humans their essential identity of peace-makers. It was an eschewing of the position that war and conflict are central to the human condition and amounted to upholding constructive dialogue among peoples and civilizations as a path to peace.

That things have not worked out in the world in keeping with the expectations of peace makers does not in any way invalidate the thesis that peace is the essential propensity of humans.

If peace-making is seemingly ineffective it is primarily because the path to peace is narrow, tortuous and time-consuming. On the other hand, violence usually misleadingly recommends itself to the human as the more expedient, cost-effective way out of a conflictual situation. However, the ultimate cost of the latter approach is prohibitive because it brutalizes the human beyond recognition.

Some of the evidence is before our eyes. The Trump administration, for example, has, minus much forethought, unleashed what may be described as a ‘quick-fix’ war against Iran but is now finding that it is in a veritable military quagmire in West Asia. The priority for the administration now seems to be a face-saving escape strategy. Such are the costs of the war option.

However, there is no denying that much remains to be done by the world community to bring peoples and cultures together with a view to enabling them to work as one for the cause of a less dangerous world.

Meanwhile, the broad divisions in international politics continue and past political polarities are lingering to the detriment of enhanced international understanding. The East and the West and the South and the North, for instance, are continuing to work in separate collectives, more or less, and no notable efforts are being made by the international community to bring these sides together for the purpose of united constructive action that could usher greater international well being.

The recent Shanghai Cooperation Organization Summit, 2026, held in Kyrgyztan was a replication of the above broad trends but there were some statements at the forum by Indian Prime Minister Narendra Modi that deserve special scrutiny and comment.

Modi was quoted saying among other things: ‘The land of Gandhi and the land of Buddha share a single message: the path to peace!..We must move away from endless war towards an end to the war. This is essentially for the well being of humanity. A peaceful resolution to all issues at the earliest is the call of humanity, and this is India’s message.’

The above is the language of international peace and unity. It is such language that will help in building bridges among civilizations and advance the cause of world peace. Besides, it will help bring a measure of understanding between North and South.

In this regard, the Trump administration could take a leaf or more from the Modi government. Unless it makes a ‘U turn’, as it were, in the direction of peace and reconciliation it is very unlikely that the US and the world would experience any stability worth speaking of.

Right now the US is savaging the sovereignty of Venezuela. It is a question of the ‘Empire striking back’ but Venezuela is a far cry from Iran. Iran has outsmarted the US on the battle field and is in a position to influence broad trends in the world economy since it still has control over the Hormuz Straits. That is, Iran could exercise a determining influence over world oil, gas and energy prices. In short, the US consumer’s future peace of mind is very much in the hands of Iran.

Given the above backdrop it should have dawned on the US political leadership that working towards cordial relations with Iran is the most advisable option. The US, simply, has too much to lose otherwise.

Likewise, Russia too needs to take a leaf from India. It is plain to see that its invasion of Ukraine is proving totally ineffective. It has not brought any measure of peace for the Russian people. Russia is right now experiencing a rerun of its military misadventure in Afghanistan. On the other hand, sections of the peoples concerned have been victimized and even brutalized.

Accordingly, there needs to be a coming together of democratic opinion worldwide for a fresh consideration of the options facing humanity. There is a dire need for value-based politics to take the place of Realpolitik. Besides, the language of peace and humanity needs to replace current divisive discourse with its stress on polarities and antagonisms.

International organizations of the stature of the UN need to take the lead in spearheading the above initiatives. Right now the UN gives the impression of being a spent force. This columnist hopes that he would be proved wrong on this score because the UN remains the only hope of the poor and victimized. It will be in the interests of all peoples for the UN to rejuvenate itself and dedicate itself increasingly enthusiastically to the cause of international peace.

Whether it be the South or North, dynamic, visionary political leadership and direction emerges as essential. The need is for voices that would espouse peace and accord across boundaries and divisions. For South Asia, India and Pakistan have the potential to fill this lacuna.

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Sri Lanka’s constitutional test: Judicial independence beyond immediate political moment

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Superior Court Complex, Colombo

by Shelton Dharmaratne

Sri Lanka has reached an important constitutional moment.

The proposed 22nd Amendment has moved beyond political debate and into the constitutional process through which its validity will be examined. That development should change the character of the national discussion.

That is understandable in a politically contested environment. But Sri Lanka should now resist reducing a question of constitutional design to a contest over political positions.

The deeper issue concerns the relationship between constitutional reform, judicial independence and public confidence in the institutions of the State.

The Supreme Court will determine the constitutional questions before it. Public commentators should therefore exercise restraint in predicting, interpreting or seeking to influence that determination. But restraint does not require silence. It requires a more rigorous discussion of the institutional principles at stake.

A narrower constitutional question than the political debate suggests

The proposed amendment principally concerns the retirement ages of judges of the Supreme Court and Court of Appeal, together with an increase in the maximum number of judges permitted on the Court of Appeal.

Under the proposal, the retirement age of Supreme Court judges would rise from 65 to 67 and that of Court of Appeal judges from 63 to 65. The maximum number of Court of Appeal judges would also increase from 19 to 24.

Other proposed changes concerning the retirement ages of judges in the lower courts arise under separate legislation. This distinction matters because the public debate has sometimes treated the wider package of judicial reform as though it formed a single constitutional proposal.

Nor should the central issue be reduced to whether retaining experienced judges is inherently good or inherently dangerous. Both propositions are too simplistic.

Sri Lanka faces a substantial burden of pending litigation, and delays in the administration of justice impose significant costs on citizens, businesses and the State. Experienced judges represent an institutional resource. Continuity, accumulated knowledge and familiarity with complex areas of law cannot always be replaced immediately.

Those are legitimate policy considerations.

But the opposing concern is equally important: judicial tenure is not merely an employment condition. It is a structural component of judicial independence.

The real question is institutional

The critical question is not whether an individual judge is capable of acting impartially. It is whether the constitutional structure provides adequate protection against circumstances in which judicial tenure could become connected, directly or indirectly, with political authority.

That is an institutional question, not an accusation against individual judges.

A judge may be entirely conscientious and independent while the institutional arrangements surrounding the judiciary nevertheless create public doubts about independence. Constitutional democracies therefore cannot depend solely on the personal integrity of office-holders. They must construct institutions capable of preserving independence even when governments, individuals and political circumstances change.

This is particularly relevant when constitutional reform concerns the tenure of serving members of the superior judiciary.

The institutional sensitivity of such a proposal should neither be exaggerated into an allegation of improper motive nor dismissed as irrelevant. The appropriate response is transparency, procedural fairness and confidence in constitutional safeguards.

Legitimate objectives do not settle constitutional questions

The government has stated that its objectives include strengthening the administration of justice, addressing delays, retaining judicial experience and increasing institutional capacity.

Those objectives deserve serious consideration. Sri Lanka needs judicial reform. Citizens waiting years for their cases to be concluded experience the justice system very differently from those discussing it in Parliament, courtrooms or universities.

A government is therefore entitled to propose reforms designed to improve judicial efficiency.

But legitimate objectives do not automatically resolve constitutional objections. The relevant question is whether the means chosen are compatible with the constitutional structure and whether sufficient safeguards exist against unintended institutional consequences.

That is precisely why constitutional scrutiny matters.

The concerns of the Bar Association of Sri Lanka (BASL) should likewise be examined without political labelling. Opposition to the proposed changes should not automatically be characterised as opposition to judicial reform or an attempt to obstruct the government. At the same time, invoking judicial independence does not place any argument beyond scrutiny.

The appropriate questions are straightforward:

Does extending judicial tenure strengthen the administration of justice?

What risks, if any, could it create for judicial independence?

Are adequate institutional safeguards in place?

Does the proposal operate prospectively, or does it affect judges already serving?

Could the same objectives be achieved by filling vacancies, increasing judicial capacity, improving court administration and strengthening case management?

These questions can be examined rationally without attributing improper motives to either side.

Judicial vacancies and institutional confidence

Recent concerns raised by the BASL regarding judicial vacancies add another dimension to the debate. The BASL has argued that vacancies in the Supreme Court contributed to the retirement of a senior Court of Appeal judge without promotion to the Supreme Court, despite vacancies having existed. It has also raised concerns regarding forthcoming judicial retirements and the need for timely consideration of appointments.

Such matters should not be treated as evidence of the motives behind the proposed amendment. They do, however, illustrate a broader principle.

Judicial independence is shaped not only by the retirement age written into the Constitution. It is also influenced by how vacancies are filled, how promotions are determined, how seniority and merit are assessed, and whether judicial officers and the public believe that institutional decisions are made according to transparent and defensible criteria.

The government has an opportunity to address these concerns constructively.

Prompt appointments based on publicly defensible principles would strengthen confidence in the judiciary irrespective of the eventual outcome of the constitutional debate.

Seniority, merit and transparent criteria

The controversy also exposes a longstanding question concerning judicial appointments.

Seniority has traditionally carried considerable weight in judicial advancement. Yet seniority alone need not be the sole measure of merit. Conversely, replacing established practices with undefined assessments of “merit” could create another institutional problem.

If governments or appointing authorities can determine which judges are sufficiently meritorious without clear and objective criteria, uncertainty itself may become a source of institutional anxiety.

Sri Lanka would therefore benefit from clearer, objective and defensible standards governing judicial appointments and promotions.

Such standards would protect judges as well as appointing authorities. They would reduce opportunities for favouritism, strengthen institutional confidence and make it harder for political actors to portray every appointment as politically motivated.

Institutional rules are stronger safeguards than assurances of good intentions.

The State is larger than any government

One principle deserves particular emphasis: a government is not the State.

Governments are temporary. The constitutional State is continuing. Political parties change, parliamentary majorities change and political priorities change. The judiciary, however, must continue to function independently of whoever occupies the government benches.

The judiciary is neither a government institution in the political sense nor an Opposition institution. It is an institution of the State whose legitimacy depends upon its independence from both.

For that reason, governments should exercise particular caution when proposing constitutional changes affecting the judiciary, even where the policy objectives are legitimate.

The stronger a government is politically, the greater its responsibility to demonstrate institutional restraint.

That is not political weakness. It is constitutional maturity.

Public confidence is a constitutional asset

The most consequential issue may ultimately be neither retirement age nor judicial capacity, but public confidence.

Courts do not possess political power in the conventional sense. Their authority rests substantially on the acceptance of their decisions as legitimate.

Citizens will sometimes disagree with judicial decisions. But where the judiciary is perceived as independent, even unpopular decisions can command respect. If judicial institutions are perceived as being shaped by political convenience, even legally sound decisions may become vulnerable to suspicion.

Constitutional reform affecting judicial tenure must therefore be evaluated not only by its immediate administrative benefits but also by its effect on institutional credibility.

A reform that produces short-term efficiency while weakening confidence in judicial independence could impose a greater long-term cost. Conversely, reform that improves efficiency while preserving independence can strengthen both justice and public trust.

The challenge is not to choose between judicial efficiency and judicial independence. It is to achieve both.

If a referendum arises …

If the constitutional process ultimately requires approval by the people at a referendum, the debate should rise above the conventional government versus Opposition contest.

The electorate should be given a clear constitutional question and sufficient information to assess it.

Citizens should understand what problem the amendment seeks to address, why the proposed mechanism is considered necessary, what institutional risks have been identified, what safeguards exist and whether alternative measures could achieve the same objectives.

A constitutional referendum deserves a higher standard of public discussion than an ordinary election campaign.

The people would not merely be choosing a political side. They would be deciding the institutional framework within which political power and judicial authority operate.

Beyond who wins

The most important question arising from the proposed Twenty-Second Amendment is therefore not simply whether the government succeeds or whether the Opposition and BASL prevail.

Nor is it ultimately whether judicial retirement ages become 67 and 65 or remain unchanged.

Those are immediate constitutional questions. The deeper issue is what Sri Lanka learns from the controversy.

If the government seeks to modernise and strengthen the justice system, that objective deserves serious consideration. If the BASL and others warn that particular reforms may affect judicial independence, those concerns deserve equally serious examination.

Neither side strengthens the country by assuming that the other is acting in bad faith.

The constitutional system is strongest when legitimate disagreements are resolved through institutions rather than political pressure.

Whatever the eventual constitutional outcome, Sri Lanka will still face the underlying challenges of judicial vacancies, case delays, institutional capacity, judicial appointments and public confidence. Those problems will not disappear with a judicial determination, nor should the national conversation end there.

Sri Lanka should instead seek a broader consensus around a fundamental proposition:

Judicial reform and judicial independence are not competing objectives.

The real challenge is to pursue reform in a manner that strengthens the judiciary without placing its independence under suspicion.

That requires sound legislation, transparent appointments, adequate resources, efficient court administration, responsible political conduct and safeguards capable of surviving changes of government.

The present controversy will eventually pass. Political arguments surrounding it will fade.

But constitutional arrangements can endure for decades.

That is why Sri Lanka must look beyond the immediate political contest.

The ultimate test is not who wins today’s constitutional argument. It is whether, when the political moment has passed, Sri Lanka has a judiciary that is more efficient, more accessible and more trusted—while remaining sufficiently independent to hold every government, including future governments, within the boundaries of the Constitution.

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Farewell to a Fashion Icon

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Chula was very fond of The Island newspaper and kept in touch with us on a regular basis (L) / Chula: Sent us this photo for Glam Scene, just a couple of weeks ago (R)

Sri Lanka’s fashion world lost one of its brightest stars Monday morning – veteran model, actress, and elite pageant trainer Chulpadmendra “Chula” Kumarapathirana.

Her sudden demise has certainly come as a shock to many.

Chula had just completed a major event on Sunday (30th August), and was no more in the land of the living the following day (31st August).

Born in Colombo, she was an old girl of Buddhist Ladies’ College and later studied at the National Institute of Business Management, and has many awesome achievements to her credit.

In 2006, she won the “Miss Tourism Model of the World Press Award” in Tanzania.

She entered the entertainment industry, as an actress, and gained popularity through the teledrama “Wahinna Muthu Wessak.”

Chulpadmendra has been on TV, and many Sri Lankan hip-hop music videos, including “Hanthane” and “Heena Hirimal”, and has had several other minor acting jobs since then.

She hosted the Derana Miss Sri Lanka for Miss World 2008 and even participated in the reality TV show Sirasa Dancing Star.

For over 25 years Chula was active in local and international fashion and founded the Chulpadmendra Catwalk Studio to train young newcomers

She trained hundreds of models for runway, photoshoots, auditions, and international pageants.

She was known as a fierce mentor who believed in “not just learning to walk, but learning to command the runway”.

Many young models called graduating from her studio their “happiest moment.”

Chulpadmendra “Chula” Kumarapathirana: Many young models called graduating
from her studio their “happiest moment.” (L)/ Won the “Miss Tourism Model of the World Press Award” in Tanzania (R)

Chula was very fond of The Island newspaper and kept in touch with us on a regular basis.

Her last message to The Island was a ‘thank you’ note for the article ‘New benchmark in pageant industry’:

“Thank you, Ivan, for writing such a beautiful article about me. Your unwavering support, encouragement, and belief in me throughout my career mean more than words can express. I am truly grateful for your kindness and generosity.

“My heartfelt thanks also go to The Island newspaper for featuring the article. It is a great honour, and I sincerely appreciate the recognition and support.

“Thank you once again.”

In fact, just a couple weeks ago, she sent a photo of herself for our Glam Scene and that picture I publish today, as part of this story.

May she rest in peace. Our deepest condolences to her family, students, and all who loved her.

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