Sunday, December 6, 2009

Small is Beautiful (1973)

Small is beautiful is essentially a collection of essays and speeches given by economist E. F. Schumacher fist published in 1973 and to the my surprise it is totally correct even today. This a revolutionary approach to see the world in the different way.

Current economical growth of human being is based on profit and progress “bigger the better” creating the conflict with natural resources, like environmental pollution, inhuman working conditions. Shumacher explains his revolutionary concept of small is beautiful in very convincing manner by identifying the modern world problems, and explains through Buddhist economy. About resources he says that, how education, proper use of land, and technology is crucial in today’s scenario. How smaller working units, communal ownership and regional workplaces utilizing local labor and resources (similar to Adam Smith) can bring the change…

A Buddhist economist would consider this approach excessively irrational: since consumption is merely a means to human well-being, the aim should be to obtain the maximum of well-being with the minimum of consumption.... The less toil there is, the more time and strength is left for artistic creativity. Modern economics, on the other hand, considers consumption to be the sole end and purpose of all economic activity

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