This week I finished reading a book called "Small is Beautiful - Economics as if People Mattered" by E.F. Schumacher. It's been an amazingly interesting read, particularly as I'm currently applying to study economics here in Helsinki. In the book, the author challenges many of the assumptions upon which modern economics is based, and hence the foundations upon which today's society is built. It was truly refreshing to read, as well as challenging and inspiring.
There are many passages that are almost prophetic in their picture of the direction things are heading (the book was written in 1973). The author's clear thinking and even basic commonsense challenged many basic assumptions that I picked up in studying economics at school. One such assumption is the idea that endless economic growth equals success, no matter the costs to society. There can therefore never be 'enough'; greed and envy become our gods. The author refers to a quote from John Maynard Keynes (the most influential economist of the 20th century), who anticipated that the day could come when everyone would be rich. However, this day hadn't arrived, and until it did, Keynes had this advice, "For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight."
Although the author frequently refers to his perspective as 'Buddhist economics', the book most often quoted is the Bible. One passage that really fascinated me was the author's application of the Sermon on the Mount to economics. This clearly goes against all mainstream economics today, yet it gives a picture of sustainability and justice which we are sorely in need of today.
So, I'm really hoping I get accepted to Uni to study more. Economics seems to be something that God's given me a passion for, and it seems to me that there need to be people who are willing to stand up and go against the flow.
Although the author frequently refers to his perspective as 'Buddhist economics', the book most often quoted is the Bible. One passage that really fascinated me was the author's application of the Sermon on the Mount to economics. This clearly goes against all mainstream economics today, yet it gives a picture of sustainability and justice which we are sorely in need of today.
So, I'm really hoping I get accepted to Uni to study more. Economics seems to be something that God's given me a passion for, and it seems to me that there need to be people who are willing to stand up and go against the flow.
