Auckland Scoop

The problem with capitalism

Press Release – Wellington Buddhist Centre

The problem with capitalism
A British Buddhist author and former trade unionist is visiting New Zealand to discuss the pitfalls of capitalism and its effect on our world.

Ian Linn (Buddhist name, Vaddhaka) says capitalism is associated with the decline of community and the degradation of work.

Vaddhaka has written a book entitled The Buddha on Wall Street – what’s wrong with capitalism and what we can do about it in which he explores these issues.

“Is there something in the nature of modern capitalism that prevents further progress towards an economic system that reduces suffering and allows individuals to fulfil their human potential while preserving and protecting the environment?” he asks.

He says there is enough food, shelter and work in the world, yet still people suffer.

“What it is about capitalism that makes this happen?

“Modern neoliberal capitalism is based on greed. What is needed is a system that goes beyond modern capitalism and draws on people’s natural tendency for generosity and altruism.”

While in New Zealand, Vaddhaka will lead a two-day workshop (Nov 14-15) and give a talk at the Wellington Buddhist Centre onNovember 17.

He will also lead a workshop at the Auckland Buddhist Centre onNovember 20,21 and give a talk there on November 9.

Before joining the Triratna Buddhist community in 1994, Vaddhaka completed a first degree in economics and postgraduate degree in industrial relations. He worked for over twenty years in the UK in trade unionism and adult education.

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