Small is Beautiful: Give Us This Day Our Daily Bread:- Jude Chukwudi N
ABSTRACT
In 1973, E.F. Schumacher, an
economist, wrote a book titled SmallIs Beautiful in which he ij'lenged the
conventional wisdom of “the bigger the better” as well as the theory of T >
jnomies ofscale”, noting that practical reality tends to suggest that smallness
is more wient. Schumacher argued thatthe currentpursuit ofprofit and progress
which promotes yi:- id. organizations has resulted in gross economic
inefficiency, environmental pollution i'AG inhumane working conditions. The
entire economic tradition since Adam Smith sees •a.id treats people asjust
anotherfactorin the production process but Schumacher proposed paradigmbased on
“economics as ifpeoplemattered”. Schumacherproposed a system of intermediate
technology, based on smaller working units that utilize local resources. E.F.
Schumacher wandered through economics, marketing, democracy, ecology,
technology, cooperatives, andmany othersubjects showing how andwhy small is
indeed beautiful.
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--. "Small is Beautiful: Give Us This Day Our Daily Bread:- Jude Chukwudi N" Repository.mouau.edu.ng (2024). Accessed 22 Dec. 2024. https://repository.mouau.edu.ng/work/view/small-is-beautiful-give-us-this-day-our-daily-bread-jude-chukwudi-n-7-2