“[A modern economist] is used to measuring the ’standard of living’ by the amount of annual consumption, assuming all the time that a man who consumes more is ‘better off’ than a man who consumes less. A Buddhist economist would consider this approach excessively irrational: since consumption is merely a means to human well-being, the aim should be to obtain the maximum of well-being with the minimum of consumption … Modern economics, on the other hand, considers consumption to be the sole end and purpose of all economic activity.”
E.F. Schumacher, an underappreciated economist (via SiftStar). Of note: the consumptive black hole toward which we’re trending turbulently. Currently doing some reading on alternatives to the ideal of constant, logarithmic growth. Anyone have suggestions? (via erin) (via mikehudack)
Found via mikehudack. 14 Notes. Permalink. Wed, Jul 22nd 2009, 4:32 AM (∞).
