The work of E.F. Schumacher is addressed in the broad context ofeconomic philosophy. His economics present a frontal attack onneo‐classical economics. He likewise rejects a…
Abstract
The work of E.F. Schumacher is addressed in the broad context of economic philosophy. His economics present a frontal attack on neo‐classical economics. He likewise rejects a Marxist analysis of society. And while he shares some of the concerns of the institutionalists, he nonetheless stands apart from them in his questioning of the moral and philosophical foundations of the discipline. Schumacher can be considered a member of a fourth school – philosopher/economists.
Details
Keywords
Gordon Boyce, Wanna Prayukvong and Apichai Puntasen
Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with…
Abstract
Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with economy and society. This paper explores Buddhist thought and, specifically, Buddhist economics as a means to informing this debate. We draw on and expand Schumacher's ideas about ‘Buddhist economics’, first articulated in the 1960s. Our analysis centres on Buddhism's Four Noble Truths, the Noble Eightfold Path and associated Buddhist teachings. The examination includes assumptions, means and ends of Buddhist approaches to economics; these are compared and contrasted with conventional economics.To consider how thought and practice may be bridged, we examine a practical application of Buddhism's Middle Way, in the form of Thailand's current work with ‘Sufficiency Economy’.Throughout the paper, we explore the implications for the development of social accounting, looking for mutual interactions between Buddhism and social accounting thought and practice.
Economics and political philosophy tend to lead separate existences in separate university departments. This paper argues that there are gains to be had in the understanding of…
Abstract
Economics and political philosophy tend to lead separate existences in separate university departments. This paper argues that there are gains to be had in the understanding of the teaching of economics if the intellectual divide between these disciplines is bridged. The history of economic thought owes its evolution in part to responses at particular points in time to the enduring questions of political philosophy. A more deep‐seated understanding of economics and of HET is therefore available if considered in conscious alliance with the history of political philosophy (HPP). In short, the argument of this paper ‐ which considers five dimensions of the interdependence of HET and HPP ‐ is the reverse of Scott Gordon’s conclusion that economists have little or nothing to learn from philosophers.
Details
Keywords
GERALD ALONZO SMITH and STEVEN HICKERSON
When E. F. Schumacher first wrote Small Is Beautiful: Economics as if People Mattered, the initial reaction was mixed. For the first year or so, the book sold slowly. Then in…
Abstract
When E. F. Schumacher first wrote Small Is Beautiful: Economics as if People Mattered, the initial reaction was mixed. For the first year or so, the book sold slowly. Then in 1974, the sales exploded. In a very short time, E. F. Schumacher became widely acclaimed as his book sold more than a million copies. On both sides of the Atlantic, the common person, as well as the scholar, realized that this was a new voice, a fresh and wholesome breath of wind that was blowing in the stodgy halls of economics.
This paper reviews the work of E. F. Schumacher, who was a great economist, environmentalist and alternative thinker. He was a seminal influence for the creation of many…
Abstract
This paper reviews the work of E. F. Schumacher, who was a great economist, environmentalist and alternative thinker. He was a seminal influence for the creation of many organisations in the UK that are thriving and increasingly relevant as we appreciate the value of living local, personal, simple, organic, spiritual, integrated and appropriately scaled lives. His influence is considered through four reflective principles (appropriateness, non-violence, spirituality and simplification) and three active ones (local action, simplicity and the integration of the inner and the outer).The consequences of his philosophy are briefly considered in the world of accountancy where mechanisms to include environmental and social factors are often poor. The rise of so-called ‘conscience economics’ may provide ways to redress this imbalance. Can we discover new instruments to complement philanthropy, fair trade, offsetting and other ways to pay the full externalities that are traditionally ignored?
This book is a policy proposal aimed at the democratic left. It is concerned with gradual but radical reform of the socio‐economic system. An integrated policy of industrial and…
Abstract
This book is a policy proposal aimed at the democratic left. It is concerned with gradual but radical reform of the socio‐economic system. An integrated policy of industrial and economic democracy, which centres around the establishment of a new sector of employee‐controlled enterprises, is presented. The proposal would retain the mix‐ed economy, but transform it into a much better “mixture”, with increased employee‐power in all sectors. While there is much of enduring value in our liberal western way of life, gross inequalities of wealth and power persist in our society.
Details
Keywords
Twenty years after Schumacher's death, the wisdom, warnings and predictions contained in these [his] controversial writings, are seen to be more relevant than ever. Some of his…
Abstract
Twenty years after Schumacher's death, the wisdom, warnings and predictions contained in these [his] controversial writings, are seen to be more relevant than ever. Some of his views, such as those on total accounting and accountability, taking not only monetary but environmental and non-renewable resource costs into consideration in policy making, are now at last creeping into the political agenda. (D. Schumacher, 1997, Introduction, p. 17)
Scientists are constructing knowledge about global warming by adapting evidence-based disciplines to reflect the Precautionary Principle. It is equally important to communicate…
Abstract
Scientists are constructing knowledge about global warming by adapting evidence-based disciplines to reflect the Precautionary Principle. It is equally important to communicate the complexities and uncertainties underpinning global warming because inappropriate vehicles for giving accounts could result in defensive decisions that perpetuate the business-as-usual mindset: the method of communication affects how the risk associated with global warming is socialised. Appropriately constructed accounts should facilitate reflective communicative action. Here Beck's theorisation of risk society, Luhmann's sociological theory of risk and Gandhi's vehicle of communicative action (or satyagraha) are used to construct a risk-based accountability mechanism, whilst providing insight into Schumacher's concept of total accountability. These accountability constructs will be illustrated through the lived experiences of South Australian citrus horticulturists in the context of a richly layered narrative of competing discourses about global warming. The reiterative process of theory informing practice is used to construct a couple of dialogical vehicles of accountability.
Focuses on the basic concepts and principles of alternativeeconomics; a new doctrine of economic thought centred around humancommunities and their natural environments. The ideas…
Abstract
Focuses on the basic concepts and principles of alternative economics; a new doctrine of economic thought centred around human communities and their natural environments. The ideas of Karl Polanyi, Ernst F. Schumacher, and Herman E. Daly are presented as the most important antecedents. Considering the economy as multiple interplay among natural ecosystems, economic organizations and human communities, alternative economics tries to find ways in which economies could have been made more ecologically benign and humane. Demonstrates the practical relevance of alternative economics to two fields: first, the responsibility problematics of economizing and, second, the question of how to form economic policies which serve real development.