Abstract:

In this paper the problem of current managerial and economic education is discussed. We have focused on the research question whether the usual content of economic and managerial courses taught at universities is or is not beneficial for the society. We have sought the answer to this question by comparing the basic thoughts of the current theory of the free market and studies focused on the mental and health condition of the current population. In respect to the results of this comparison, alike some other theoreticians and practicians we assume that a change in economic thinking would be beneficial for the whole global society. We suggest that a revision of the content of economic and managerial courses taught at universities shall contribute to this change.
Analysing the usual sources for economic education we show that the usual content of microeconomics, macroeconomics, and management is based on such ideas as the higher production and consumption the better, the main aim of a company is to maximize its profit, and even though a fundamental source of wealth is human labor, from the point of view of an employer it is just an item of cost to be reduced to a minimum.
Using secondary analysis of qualitative studies on the health and well-being of the current global society we prove that the consequences are as follow: general competition, stress, widespread burnout syndrome and individualization of the whole society. Based on the analysis of global qualitative studies on the trust in business we prove that people do not trust businesses and very often consider their work as a sacrifice which is compensated by a salary, which allows consumption, which is considered a life goal. Based on the synthesis of the results, we argue that all these outcomes not only are not socially beneficial but they harm the society as well as individuals.
In the next part of the paper we present the results of our research on alternative approaches towards economics and business. We have found that particularly Buddhist economics, conscious business, and conscious leadership are promising concepts. It has been proved that conscious businesses achieve very positive concrete measurable outcomes.
Thus, we suggest that the content of economic and managerial courses should be changed or at least extended by topics such as Buddhist economics, conscious leadership or conscious business. Based on research in this area we believe that if more people are able to follow the principles of consciousness, many serious social problems can be reduced. Universities as well as other teaching institutions can considerably help to do so.

Keywords:

Economic and managerial education, Buddhist economics, Conscious Business.