Econommics Small Is Beautiful - 1354 Words

Book: Small is Beautiful by EF Schumacher Summary of Small is Beautiful: Small is beautiful was published in 1973 it main message was to include people in economics. Schumacher looks at our economics system and criticises it. He describes how humans’ impacts economics and it’s not always in a good way. His aim was to warn us about how our use of resources is impacting our environment in a very dangerous away. Also Schumacher didn’t agree with the statement the bigger the better instead he said â€Å"Man is small and therefore small is beautiful† (pg131). In his eyes the bigger a company or country growth was the bigger the problems and more likely it would self-destruct. He found that it was better to be small and it was more efficient and†¦show more content†¦People were overcome by the emotion greed and envy during the Celtic Tiger. For the first time in Irish history, people had money to spend. People were obsessed with getting rich and once they got a taste of it they wanted more and more whatever the results. Everyone wanted a part in the property bubble. The prices of houses doubled or trebled as a result of this high demand. They were overvalued. But as the housing prices increased, so did the dangerous lending. Banks gave out more loans than they should have to people who had no way of paying them back .People were surviving on borrowed money and as a result the banks collapsed as they did not get it back. In Part 2 Schumacher describes the value of resources in our society. In technology with a human face he describes how technology has affected us. Although it has the advantage of doing most of the work Schumacher believes that we are missing out on what we love most working with our hands and brains. â€Å"Virtually all real production has been turned into an inhuman chore which does not enrich a man but empties him† (Pg. 124) In part 3 The Third World Schumacher describes our (rich world ) failure in helping the