The real problems of our planet are not economic or technical, they are philosophical. The philosophy of unbridled materialism is being challenged by events.
E. F. SchumacherRead
The key words of violent economics are urbanization, industrialization, centralization, efficiency, quantity, speed. . . . The problem of evolving a nonviolent way of economic life [in the West] and that of developing the underdeveloped countries may well turn out to be largely identical.
Interpretation
This quote emphasizes the interconnectedness of violent economic practices and the challenge of creating a peaceful economic system.
E. F. Schumacher highlights the destructive elements inherent in violent economics, such as urbanization and industrialization, while suggesting that finding a nonviolent economic approach for both developed and developing nations may essentially be the same challenge. He urges a reconsideration of economic principles to foster a more humane and sustainable way of living.
In practice
During a talk on sustainability, one might quote Schumacher to illustrate the need for a nonviolent economic framework.
The real problems of our planet are not economic or technical, they are philosophical. The philosophy of unbridled materialism is being challenged by events.
The substance of man cannot be measured by Gross National Product.
The printing press is either the greatest blessing or the greatest curse of modern times, sometimes one forgets which it is.
By means of trees, wildlife could be conserved, pollution decreased, and the beauty of our landscapes enhanced. This is the way, or at least one of the ways, to spiritual, moral, and cultural regeneration.
We still have to learn how to live peacefully, not only with our fellow men but also with nature and, above all, with those Higher Powers which have made nature and have made us; for, assuredly, we have not come about by accident and certainly have not made ourselves
The heart of the matter, as I see it, is the stark fact that world poverty is primarily a problem of two million villages, and thus a problem of two thousand million villagers.
Instead of abandoning competition and giving banks protected monopolies once again, the public would be better served by making it easier to close banks when they get into trouble. Instead of making banking boring, let us make it a normal industry, susceptible to destruction in the face of creativity.
Economics, as it is often taught today, portrays us as homo economicus-someone who doesn't vote in presidential elections, doesn't return lost wallets, and doesn't leave tips when dining out of town. Julie Nelson reminds us that most people aren't really like that. She helps point the way to a richer, more descriptive way of thinking about economic life.
It is a singular advantage of taxes on articles of consumption that they contain in their own nature a security against excess. They prescribe their own limit, which cannot be exceeded without defeating the end purposed - that is, an extension of the revenue.
The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident.
The market economy-capitalism-is a social system of consumers' supremacy.
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