Small is Beautiful

Fri 11 August 2017 by Thejaswi Puthraya

EF Schumacher was a famous economist with the British government. "Small is Beautiful" is his collection of speeches. He covers a lot of topics like the energy crisis, pollution, capitalism, socialism etc. It is in this book that he first makes use of the term "Buddhist economics" which refers to a minimalist mode of economy where we move back from automation back to humanisation to provide jobs and well-being to a large population. He also proposes (in the late 1970s just before the energy crisis) to setup a capital fund where taxes from non-renewable resources will be diverted to non-renewable energy research. Sadly, we didn't pay heed to such sane advice until quite late.