Namaste radarmark,
it is interesting. it is rather similar to the Buddhist philosophical school called Chittamatra or "mind only" school. i think i posted something regarding the different Buddhist philosophical schools on the forum... i'll excerpt a bit here for convenience:
http://www.interfaith.org/forum/buddhist-philosophy-719.html
1.
Vaibhasika has been called "direct realism." It is similar to the first few of the Indian views that see the World of Experience as composed of various physical elements that interact with the components of beings.
2.
Sautrantika considers that awareness is merely representational. These first two schools consider that there are two kinds of interactors: Physical aspects, ie. skandhas of which one, rupa comprises the traditional elements, and the Mental aspects including consciousness (vijnana), sensation (vedana) which contributes to pain/pleasure, cognition (sanjna) and the impressions derived from experience (samskara.). The 12 Links of Causality go into this in more detail.
3.
Chittamatra/Yogachara sometimes referred to as the Knowledge Way or Vijnanavada. It has also been called Subjective Realism, acknowledging that individual factors including karma contribute to an experience of reality that must be different for every being. It mentions the idea of "Buddha nature." Vasubandha and Asanga finally adopted this position.
4.
Madhyamika basically holds that there is no ultimate reality in the sense that something exists apart from the experiencer, but that this does not mean that there is nothing at all. It turns around the definition of Shunyata and therefore has been called Sunyatavada. Nagarjuna and Aryadeva are the main proponents. Chandrakirti expounds upon Nagarjuna.
The Madhyamika view has given rise to two particular schools of thought:
Svatantrika and
Prasangika, which is the school that i adhere to. According to the
Prasangika school, the
object of refutation (or negation, gag-cha)
* is an extremely subtle object that is ever so slightly more than—a little over and above—what is merely labeled by the mind.
The 14th Dalai Lama, Tenzin Gyatso Rinpoche in The World of Tibetan Buddhism: An Overview of Its Philosophy and Practice. Boston: Wisdom Pub., 1995. (49-54):
"According to the explanation of the highest Buddhist philosophical school, Madhyamaka-Prasangika, external phenomena are not mere projections or creations of the mind. External phenomena have a distinct nature, which is different from the mind.
The meaning of all phenomena being mere labels or designations is that they exist and acquire their identities by means of our denomination or designation of them. This does not mean that there is no phenomenon apart from the name, imputation, or label, but rather that if we analyze and search objectively for the essence of any phenomenon, it will be un-findable.
Phenomena are unable to withstand such analysis; therefore, they do not exist objectively. Yet, since they exist, there should be some level of existence; therefore, it is only through our own process of labeling or designation that things are said to exist.
Except for the Prasangika school, all the other Buddhist schools of thought identify the existence of phenomena within the basis of designation; therefore, they maintain that there is some kind of objective existence.
Since the lower schools of Buddhist thought all accept that things exist inherently, they assert some kind of objective existence, maintaining that things exist in their own right and from their own side. This is because they identify phenomena within the basis of designation.
For the Prasangikas, if anything exists objectively and is identified within the basis of designation, then that is, in fact, equivalent to saying that it exists autonomously, that it has an independent nature and exists in its own right.
This is a philosophical tenet of the Yogacara school in which external reality is negated, that is, the atomically structured external world is negated. Because the proponents of the Yogacara philosophical system assert that things cannot exist other than as projections of one's own mind, they also maintain that there is no atomically structured external physical reality independent of mind. By analyzing along these lines, Yogacara proponents conclude that there is no atomicly structured external reality.
This conclusion is reached because of not having understood the most subtle level of emptiness as expounded by the Prasangikas. In fact, Yogacarins assert that things have no inherent existence, and that if you analyze something and do not find any essence, then it does not exist at all.
Prasangikas, on the other hand, when confronted with this un-findability of the essence of the object, conclude that this is an indication that objects do not exist inherently, not that they do not exist at all. This is where the difference lies between the two schools."
*
Object of Refutation: one possible technique for searching for truth is to employ the process of elimination, and see what is left. Therefore, the principle or topic under consideration may be called
the object of refutation which helps keep in our mind the notion that the thing is not to be assumed to exist. It is merely a target, so to speak.
this link has some very good information for the interested reader:
Madhyamika