Where Economics & Philosophy Meet | E F Schumacher

Can we live by philosophical and spiritual principles while engaging with the practical world of commerce, industry and economics? Schumacher says we can.
Dr Graham Blackbourn speaks about Schumacher's life and work. Schumacher was a 20th century economist and philosopher. Born in Germany in 1911, he studied at Oxford and as a Rhodes scholar. He moved to England during the war; he was interned and worked on a farm. Keynes had Schumacher released to help with the economic mobilisation for war.
Around 1951, Schumacher suffered a period of disillusionment. But he found his health and happiness began to improve as he practised relaxation exercises; he began to discover his inner being.
Schumacher writes:
Happily, the modest practice of allowing some degree of inner stillness to establish itself - if only for fifteen minutes a day, to start with - led to these unsuspected discoveries: like a Geiger counter, the inward parts started to react and in fact to burn as soon as my mind found itself in contact with the real thing - what shall I call it? - with ‘Truth’, the Truth referred to when we are told: Ye shall know the truth and the truth shall make you free… I had not previously known of the existence of such Truth.
He attached himself to a Buddhist monastery and developed 'buddhist economics'. Proper development depended on the availability of good work. His economic thinking was increasing underpinned by his philosophical understanding.
In 1973 Schumacher published Small is Beautiful. He was an early advocate of organic farming, president of the Soil Association, a pioneer of sustainable development. Four years later, he published 'A Guide for the Perplexed', arguing for the truth of ancient knowledge, waking up to higher levels of spiritual being.
Without philosophy he would have been outstanding as an economist. But it was his discovery of philosophy and the inner life which transformed his economic understanding into a truly human subject, the prime focus of which was one’s physical, emotional and spiritual development.
The School of Philosophy and Economic Science offers courses in practical philosophy and economics with justice as well as other subjects. It aims to approach philosophy in a practical way, encouraging students to apply philosophy in their lives. The School also introduces a mindfulness-type exercise leading eventually to mantra meditation.
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#schumacher #economics #smallisbeautiful #economists #meditation
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[@elizabethmazzola647]

Appreciated hearing this and liked - 'I can't raise the wind... but I can put up the sails so that when the wind comes I can catch it'. A man of stillness and humility who saw how he could play his part well in the great scheme of things. Had not know about his work as a pioneer of sustainable development. Will now re-read the book with better understanding. Thank you.

[@Philosophycourse]

Thanks for this great comment. Delighted that you're inspired to read the book again!

[@belessbutbetter]

Excellent introduction to EF’s work. Thank you for sharing.

[@Philosophycourse]

Glad you enjoyed it!

[@mountbrocken]

Small is Beautiful is a WONDERFUL work and highlights the necessity of distancing an economy from top-down, mechanistic, distant bureaucracies. His work is akin to that of Chestertonian, Bellocian distributism. In short, to baptize work in humanity rather than to plunge it into the cold waters of the corporate, nationalism and international bureaucracies of top-down economics.

[@Philosophycourse]

@mountbrocken - thanks for this great comment. We are aware that Small is Beautiful is not such a popular book now, but we were pleased to feature it here. Very happy to hear from an enthusiast like yourself! Thanks for watching.

[@BalogunTobi42]

I have BA in philosophy, and currently pursuing Masters in Philosophy (ethics, logic) I am looking forward to pursue Masters in Economics after the completion of Masters in philosophy. Please what do you think about that?

[@Philosophycourse]

That sounds amazing! You must have worked very hard for these degrees. In the School we take the approach that philosophy can be applied to life, so it's more practical, and maybe less academic - you'll hear that in our videos. Best of luck with your studies.

[@BalogunTobi42]

@@Philosophycourse Thank you for your response.

[@marekgaramond4198]

Very beautiful, thank you🙏

[@Philosophycourse]

Thanks for watching!