BUDDHIST PHILOSOPHY AND THE PSYCHOLOGY OF MONEY: DECONSTRUCTING THE CONCEPTS OF EGO AND FREEDOM IN THE AGE OF DIGITAL CAPITALISM
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Abstract
This study aims to 1) analyze the paradigm of money as a behavioral psychological phenomenon through a Buddhist conceptual framework; 2) critique the ontological relationship among money, freedom, and ego as extensions of attachment (Upādāna) through the lens of Buddhist philosophy; and 3) synthesize a Buddhist philosophical framework for transitioning toward ultimate freedom. This study employs a qualitative methodology focused on documentary research and critical analysis.
The research findings indicated that within the dimension of digital capitalism, money functions as a symbolic structure that expands the ego and reinforces the illusion of a substantial self (Sakkāya-diṭṭhi). Human money management behavior is not driven by mathematical logic, but is shaped by emotional experiences and habitual tendencies. This aligns with the Buddhist philosophical view that ignorance (Avijjā) is the primary factor causing humans to attach value to money, which then becomes clinging (Upādāna) that constricts the mind. Furthermore, it was found that mainstream financial freedom is merely a conditional form of freedom that remains under the hegemonic influence of craving (Taṇhā). The researcher therefore proposes a model of transitional freedom from a state driven by the compulsion to possess, toward a state of mindful being. This leads to true freedom that does not depend on material incentives, in order to transform economic value into authentic spiritual freedom.
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