What is Right View, and how can it be applied in the contemporary world?

No need any applying, because it is called kammassakatā-right-view, that is a base of concentration-right-view and insight-right-view.

So, you can see it in many sutta for lay people in tipitaka. Because in my opinion, kammassakatā-right-view is sīla-right-view and dāna-right-view.

There are so many views that are right according to dharma. In my opinion, a view of impermanent of 5 skandha is top of the list. Since it has power to change a person from run of the mill to a faith base stream enterer. This also matches where Buddha talked about order of return of good karma from giving to animals to top of the list, perception of anicca (perception of impermanence). How it perception of impermanent to be use? to focus on. for example, when you read a good book, you might not hear a fire truck with siren driving by, even though mechanism of your ears receive the vibration. This because we perceive only what we want to. Focus on changes. easiest for me is anger. it comes and goes very quickly. Pay attention on how/when it disappears when someone cut you off on the road.

Earliest Buddhist texts I think define right view as seeing, understanding, and realizing three characteristics of this world and life:

1) All things are impermanent and continuously changing 2) (because of number 1 and our grasping at things that are ephemeral) there is an undercurrent of dissatisfaction and unsatisfactoriness in life. 3) All things, a person, and the world we live in is without an inherent self (selfless) (though we do experience an experiencial self of ourself and the world).

I find the third the most subtle and useful.

Ian,

by ways of thinking, one cleans his mind, reminding on right view, leading to right resolve:

"And how is one made pure in three ways by mental action? There is the case where a certain person is not covetous. He does not covet the belongings of others, thinking, 'O, that what belongs to others would be mine!' He bears no ill will and is not corrupt in the resolves of his heart. [He thinks,] 'May these beings be free from animosity, free from oppression, free from trouble, and may they look after themselves with ease!' He has right view and is not warped in the way he sees things: 'There is what is given, what is offered, what is sacrificed. There are fruits & results of good & bad actions. There is this world & the next world. There is mother & father. There are spontaneously reborn beings; there are brahmans & contemplatives who, faring rightly & practicing rightly, proclaim this world & the next after having directly known & realized it for themselves.' This is how one is made pure in three ways by mental action."

— AN 10.176

If reminding on just this, in each situation, there will never be any trouble in addition, to that what might just rippe for possible end (if not wrong grasped and continued with it) accure.

[Note: This is a gift of Dhamma and not meant for commercial purpose or other low wordily gains by means of trade and exchange.]

As for the Right View, if I had to boil it down for a twelve-years-old, I would say something like:

Nothing in this life really matters, but the pain we all feel is real pain nevertheless. Nothing in this world, nothing at all, has absolute value worth fighting over or of causing pain to others. The only thing that really matters is our pain. Can we live with less pain ourselves, and help others live with less pain? That's the only thing that really matters, everything else is games. Remember this every time you make a choice, big or small. Especially if you find yourself pushed to take sides in an argument or to get engaged in a new project. How does it affect your life and especially the lives of others? Will it bring relief or will it turn someone's life into psychological hell? However it looks to you now, it will certainly feel very real to whoever has to experience it. Therefore in everything you do, in things big or small, remember: nothing really matters, except pain.

Of course, this is based on the canonical definition of the Right View that says:

"And what is right view? Knowledge with regard to pain (dukkha), knowledge with regard to the origination of pain, knowledge with regard to the cessation of pain, knowledge with regard to the way of practice leading to the cessation of pain: This is called right view."

and

By & large, Kaccayana, this world is in bondage to attachments, clingings, & biases. But one such as this does not get involved with or cling to these attachments, clingings, fixations of awareness, biases, or obsessions; nor is he resolved on 'my self.' He has no uncertainty or doubt that, when there is arising, only pain (dukkha) is arising; and that when there is passing away, only pain is passing away. In this, one's knowledge is independent of others. It is to this extent, Kaccayana, that there is right view.

In your daily life, as you go about things, just observe and analyse any negative thought arising in the mind without acting in response to them. One does not need a specific spot or time to do this. Whenever a negative thought arises in the mind, one has to observe and analyse it right away as a fire needs to be extinguished instantly. This way one is able to turn one’s “bad” days in to “good” days. One is able to spend the day with happiness.

One who goes on experiencing happiness through the observation and analysis of one’s thoughts realise one day that happiness and suffering are merely feelings emerging in the mind and it would be prudent to eliminate any feeling associated with happiness or unhappiness. Until one reaches this stage, one needs to continue with the approach of observing and analysing the thoughts with patience. This is Right View in practice, and is the only way for true happiness.

@UrsulRosu rightly pointed out that it is also Right Effort and Right Mindfulness. The ultimate meaning of samma dhitti (right view) is ascertaining the supramundane truth. What involves in the category of supramundane truth? It is the understanding that everything existing in the world is subject to anicca. One who comprehends the supramundane truth in everything based on anicca, dukkha and anatta could definitely attain the supreme bliss of Nibbana. His/her mind would no longer be in a state of burning – the mind is totally relieved of burning and heat. We, now, realize the importance of leading a life based on the principles of sacca, dhamma, dhiti and caga in order to achieve mental peace at all times.

Then @SarathW noted that the right view cannot be practiced in isolation - that it has to be practiced in conjunction with whole Noble Eight-fold Path. This is true. Right view is the penetration of the truth of the teaching in one's own immediate experience.the Buddha calls right view the forerunner of the path (pubbangama), which gives direction and efficacy to the other seven path factors, yet it cannot be practiced in isolation.

The Awakened One described kaya’, ‘vedana’, ‘citta’, ‘dhamma’ individually for the sake of detailed analysis. Otherwise all four methods function in a single mind. As a thought arises in the mind, one of the following is prominently discernible: a) Actions of the mind; b) Feelings of the mind; c) The way how these feelings are grasped; d) Mental factors (dhammas = ) resulting from action / feelings of the mind.

Kayagata-Sati signifies the practice of watching the mind mindfully. We need to observe what is prominent in a given time. No matter what type of a process arises in the mind for us to observe, our objective should be to observe any process without greed (lobha) or aversion (dosa).

When one engages in the practice of watching the mind with mindfulness for some time, it becomes an involuntary habit. You can name this as “energy” (viriya) if you like. When one keeps watching the mind with mindfulness, mind distances itself from unhappy, uncomfortable feelings and reach the state known as “Samadhi” (concentration). Samadhi is a mental state associated with lucidity, serenity and unification of mind.

Samadhi is a mental state that every Buddhist should experience and could experience. When one observes the mind with mindfulness, one is able to distinguish between wholesome and unwholesome mental changes followed by happiness and unhappiness. This enables one to determine the wholesome thoughts that need to be cultivated and maintained at any cost. This particular knowledge resulting from the exercise of watching the mind is referred to as “wisdom” (paññā).

When the Mind is analytically observed to understand the existence of raga (greed), dosa(hatred), moha (delusion), mana (conceit), and ditthi (wrong view), mental suffering begins to subside gradually. Saddha (faith), sati (mindfulness), viriya (energy), Samadhi (concentration) and paññā (wisdom) begin to arise in the mind instead. Happiness begins to take a firm hold on the mind. Anyone has the potential to establish a happiness-based mind in this manner and engage in day to day affairs.