Paper short abstract:

This paper analyzes indigenous knowledge in Sri Lanka with a view of examining whether there is anything useful in seeking solutions for current economic and social problems in the world. The characteristics of indigenous knowledge teach us a good lesson on ‘collective decision making’ in the society.

Paper long abstract:

Warming, peace, food security are current issues and problems discussed always in the global economic platform. By analyzing these problems, some researchers argue that present models are not suitable in finding solutions to current economic and social problems. With a view of filling this gap this paper looks into selected early economic activities based on indigenous knowledge in Sri Lanka. The paper reviews historical evidence and interview people who are familiar with indigenous knowledge. Findings show that human activities based on indigenous knowledge was environmental friendly. During the period of this knowledge, people worked corporately and collectively as much as possible without taking earning money as their the major objective. And resources were not wasted. These characteristics of indigenous knowledge are competitive but based on consensuses and may be useful in seeking solutions for global warming and arming.