Tuesday, June 26, 2012

The Book : Small is Beautiful

(1) Collection of 13 essays (20 in later edition) by British economist, E.F.Schumacher, who had worked with John Maynard Keynes and John Kenneth Galbraith, was published in 1973.
(2) The Times Literary Supplement ranked Small Is Beautiful among the 100 most influential books published since World War II.
(3) Single-minded concentration on output and technology is dehumanizing.
(4) Infinite economic growth is impossible within a finite system.
(5) Subtitle of the book - a Study of Economics as if People Mattered.
(6) Another Book by him: Good Work
(7) Good Work: The effects of modern economics on the individual.
(8) Yet another book by him : A Guide for the Perplexed
(9) Its Subject Matter : the philosophical and spiritual underpinnings of his work.
(10) Work coincided with ecological concerns and environmental movement.
(11) Concluded that government effort must be concentrated on sustainable development.
(12) Ideas grow out of study of village economics later termed Buddhist economics.
(13) Blasted bigger is better and growth is good slogans.
(14) Man is small, and, therefore, small is beautiful.
(15) First to question GNP as a measure of human well being.
(16) A professor's advice to student: Read the book but do not quote it to protect your reputation - he will also turn out to be right in the end.
(17) Critic : Messy, digressive writing. Point does not become clear by the end of the chapter. Vague and worthless solutions without any idea about implementation.
(18) Critic's summary of ideas: Intermediate technology, think locally, value people, distinguish between renewable and non-renewable resources