Schumacher argues that the core difference between Western economics and Buddhist economics is that the former is based on the multiplication of wants while the latter is based on purification of the human character.

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E.F. Schumacher, in his essay "Buddhist Economics," contrasts Western economics' focus on maximizing consumption and wants with Buddhist economics' emphasis on simplicity, non-violence, and the purification of human character.

Schumacher Argues That the Core Difference Between Western Economics and Buddhist