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Small Is Beautiful

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Small Is Beautiful: A Study of Economics As If People Mattered
AuthorErnst Friedrich Schumacher
PublisherBlond & Briggs (1973–2010), HarperCollins (2010–present)
Publication date
1973
Media typePrint (Hardcover)
Pages288
ISBN978-0-06-091630-5
OCLC19514463
330.1 20
LC ClassHB171 .S384 1989

Small Is Beautiful: A Study of Economics As If People Mattered is a 1973 collection of essays by British economist E. F. Schumacher. The title is based on ideas taught by his mentor Leopold Kohr, who argued that small-scale technology and small political units often work better than large ones.[1]

The book became well known during the 1970s as people reacted to environmental problems, the 1973 energy crisis, and the growing influence of globalisation. Schumacher argued that mainstream economics focused too much on growth and not enough on people, nature, and long-term well-being. In 1995, The Times Literary Supplement listed Small Is Beautiful as one of the 100 most influential books published since World War II.[2] A 25th-anniversary edition with new commentaries was released in 1999.[3]

For the book’s 50th anniversary in 2023, the Schumacher Center for a New Economics published an updated study guide written by British author David Boyle.[4]

Synopsis

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Small Is Beautiful has four main parts: "The Modern World", "Resources", "The Third World", and "Organization and Ownership".

Part I argues that the modern economic system uses natural resources as if they were endless. Schumacher says that resources like fossil fuels should be seen as limited capital, not disposable income, and that pollution also has limits. He believes that societies need to focus on sustainable development. He also introduces the idea of Buddhist economics, which values simplicity, human well-being, and appropriate technology.

Part II discusses education as the most important resource and looks at land, industry, nuclear energy, and technology’s effects on people.

Part III describes the difference between wealthy countries and the developing world. Schumacher looks at unemployment and rural life in India and argues for small-scale, local economic development.

Part IV presents ideas about how large organizations work and the problems that come with size. Schumacher suggests that nationalised industries should aim to create humane, democratic workplaces rather than simply copying capitalist models. The section ends with advice to socialists about improving industry in more people-centered ways.

See also

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References

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  1. ↑ Dr. Leopold Kohr, 84; Backed Smaller States, New York Times obituary, 28 February 1994.
  2. ↑ The Times Literary Supplement, October 6, 1995, p. 39
  3. ↑ Schumacher, E. F.; Small Is Beautiful: Economics As If People Mattered : 25 Years Later...With Commentaries (1999). Hartley & Marks Publishers. ISBN 0-88179-169-5
  4. ↑ "Small is Beautiful Revisited 50 Years On". Schumacher Center For New Economics.
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