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Small Is Beautiful: Economics as if People Mattered, by E. F. Schumacher
PDF Ebook Small Is Beautiful: Economics as if People Mattered, by E. F. Schumacher
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“Nothing less than a full-scale assault on conventional economic wisdom.” —Newsweek
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One the 100 most influential books published since World War II
—The Times Literary Supplement
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Hailed as an “eco-bible” by Time magazine, E.F. Schumacher’s riveting, richly researched statement on sustainability has become more relevant and vital with each year since its initial groundbreaking publication during the 1973 energy crisis. A landmark statement against “bigger is better” industrialism, Schumacher’s Small Is Beautiful paved the way for twenty-first century books on environmentalism and economics, like Jeffrey Sachs’s The End of Poverty, Paul Hawken’s Natural Capitalism, Mohammad Yunis’s Banker to the Poor, and Bill McKibben’s Deep Economy. This timely reissue offers a crucial message for the modern world struggling to balance economic growth with the human costs of globalization.
- Sales Rank: #32662 in Books
- Published on: 2010-10-19
- Released on: 2010-10-19
- Original language: English
- Number of items: 1
- Dimensions: 8.00" h x .79" w x 5.31" l, .60 pounds
- Binding: Paperback
- 352 pages
Review
“Embracing what Schumacher stood for--above all the idea of sensible scale--is the task for our time. Small is Beautiful could not be more relevant. It was first published in 1973, but it was written for our time.” (Bill McKibben, from the Foreword)
“An eco-bible” (Time magazine)
“Small Is Beautiful changed the way many people think about bigness and its human costs.” (New York Times)
“Nothing less than a full-scale assault on conventional economic wisdom. . . . Schumacher believes economists need a new set of values, to obtain maximum well-being with minimum consumption.” (Newsweek)
From the Back Cover
Small Is Beautiful is Oxford-trained economist E. F. Schumacher’s classic call for the end of excessive consumption. Schumacher inspired such movements as “Buy Locally” and “Fair Trade,” while voicing strong opposition to “casino capitalism” and wasteful corporate behemoths. Named one of the Times Literary Supplement’s 100 Most Influential Books Since World War II, Small Is Beautiful presents eminently logical arguments for building our economies around the needs of communities, not corporations.
About the Author
Born in Germany, Dr. E. F. Schumacher (1911–1977) fled to England after the rise of Nazism and, with the help of John Maynard Keynes, taught economics at Oxford University. He is the author of Small Is Beautiful, the book that "changed the way many people think about bigness and its human cost" (New York Times).
Most helpful customer reviews
97 of 99 people found the following review helpful.
The "Great Heresy of Economics" And a Must Read
By A Customer
When I was a student at Brigham Young University in the early 80's, I was introduced by my macroeconomics professor to what many economists of the time considered to be the "great heresy of economic theory." - a copy of Small is Beautiful. He warned me that quoting it in research papers would be most unwise, as the BYU economics department was, and continues to be, a strong proponent of the current economic orthodoxy of infinite economic growth and prosperity that dominates economics even today. He finished by saying that "Schumacher was a radical, no doubt about it. However, he will also turn out to be right in the end."
Truer words were never spoken. There are those who will point out detail errors in Schumacher's work. The book was, after all, written over 25 years ago, and Schumacher would never have considered himself a prophet. Yet the central theme of his work, that infinite economic growth is impossible within a finite system, and the inevitable consequences of ignoring this simple truth have been fully vindicated. Even the most orthodox economists are beginning to see the disasterous environmental and social consequences of their economic policies over the last 50+ years, which Schumacher describes in detail, and warn policy makers that major changes must be made. Schumacher also proposed a highly effective and practical method, Intermediate Technology, to help impoverished and developing nations make the best possible use of modern scientific and technological advances, without the vast (and for countless millions in the world impossible) financial investments and ecological/social consequences. In 1965 Schumacher and a few friends started the Intermediate Technology Development Group ...which continues to develop practical applications of his ideas in the developing world. Small is Beautiful - a Study of Economics as if People Mattered, along with his other two key books Good Work, which explores the question of the effects of modern economics on the individual and the very purpose of work itself, and A Guide for the Perplexed, which outlines the philosophical and spiritual underpinnings of Schumacher's work, provide a powerful and compelling alternative view of economics and our world - a view every bit as applicable today as it was in his lifetime.
An earlier reviewer who seemed to have no grasp of economics or recent history (Gen Ne Win is no more a Buddhist than Hitler was a Jew - he in fact deliberately set out to destroy the cultural and economic system of Burma - including Buddhism itself. To use this example to "invalidate" the chapter "Buddhist Economics" totally destroys this reviewer's credibility) stated that "a wise world has ignored his bad advice & prospered." Far from it. In the end, a wiser world will be forced to look back on Schumacher's book and conclude that he was, in fact, right.
111 of 116 people found the following review helpful.
Not Only Beautiful, But Also Practical
By Tony Theil
In my college days I struggled with economics and barely passed. My economic professors and the course material were dull, ambiguous, and non-stimulating. None of these adjectives could be used to describe Schumacher's Small is Beautiful: Economics as if People Mattered.
Schumacher makes economics come alive with wit, humor, and practicality. His approach is qualitative, not quantitative. A recurring statement throughout the book epitomizes his philosophy, "Why use the computer if you can make the calculation on the back of an envelope"? He gives the science a personality when identifying the disparities between the rich and poor, the educated and uneducated, and the gap between city people and country-folk.
Small is Beautiful created a humanistic economics movement. It's a wholistic approach containing ethical, ecological, and metaphysical components that are missing from the statistical models that solely measure GNP. Schumacher sounded the alarm regarding globalization when asking "how much further 'growth' will be possible, since infinate growth in a finite environment is an obvious impossibility". He was critical of a society that generates unbounded materialism, and motivated by greed and envy.
Some of the more interesting of the 20 essays are: "Peace and Permanence", "The Role of Economics", "Buddhist Economics", "The Greatest Resource - Education", "Technology with a Human Face", "Development of Intermediate Technology", and "Two Million Villages".
Although the book was written in 1973, it is as timely now as it was then. The 25th anniversary edition contains provocative updates provided as sidebars by contributors such as Hazel Henderson, Peter Warshall, Amory Lovins, Godric Bader, et al.
67 of 70 people found the following review helpful.
Insightful and still relevant
By Steven Unwin
I read this book back-to-back with another book by Schumacher, A Guide for the Perplexed. Though Small is Beautiful is the title for which he is most well known, my strong preference was for the latter title.
Small is Beautiful is the earlier book and is rightly recognised as a key instigator of what we might call `grown-up' environmental awareness. The subtitle of the book `Economics as if People Mattered' reflects the aim of the book in extending economic thinking beyond purely traditional financial factors. Central to this is the acknowledgement of the value of natural capital as an input to economic production. For example the air, water and other natural resources that traditional economics assumes to be free and abundant.
The `small is beautiful` of the title refers to Schumacher's argument that we should steer away from a belief that technology can be relied upon to solve whatever problems we throw in its direction and that decentralization as a way to bring the human touch back into the equation of business.
Schumacher makes a strong case for the value of intermediate technology, or perhaps appropriate technology, which not only delivers desired outcomes, but does so in ways that are in harmony with the broader needs of the communities where the technology is applied. For example, however valuable the finished constructed project, a JCB used in its construction may do the work of 100 men, but is of questionable value if in a developing country those 100 men have nothing to do but watch the JCB, and it is driven by a worker imported from overseas.
The book, though perhaps a little dated, is a good read, and essential reading for anyone wanting to question the dominance of single minded profit based economics.
Personally, having read A Guide for the Perplexed at the same time, I found Small is Beautiful a less rounded book, full of passion and some anger, and packed with ideas and the will to confront the world. In contrast I found A Guide for the Perplexed had the feeling of a book that had perhaps benefited from some time to reflect. In place of the data, evidence and specific arguments of the earlier book, it has a calm and considered perspective with the fragmented and detailed ideas of Small is Beautiful distilled into a single human theme.
My recommendation would be to read both books, beginning with this title. As well as benefiting from the richness of both of the books, you may also gain some insights into the process of developing quite profound ideas.
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