15 Nov '11, 3pm

Small is beautiful... but Schumacher's economics of scale runs deeper | Andrew Simms

Small is beautiful... but Schumacher's economics of scale runs deeper | Andrew Simms

Every neighbourhood might, therefore, have its own bakery, but not a factory making trains. He wrote: "There is wisdom in smallness if only on account of the smallness and patchiness of human knowledge, which relies on experiment far more than on understanding." In a warning that with the growth, concentration of ownership, power and market share of modern multinational corporations more, not less relevant Schumacher adds: "The greatest danger invariably arises from the ruthless application, on a vast scale, of partial knowledge such as we are currently witnessing in the application of nuclear energy, of the new chemistry in agriculture, of transportation technology, and countless other things."

Full article: http://www.neweconomics.org/blog/2011/11/15/small-is-beau...

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