Emergence of a New Economics


This is an approach to economics that has E. F. Schumacher as its father, and John Ruskin as its grandfather, and probably aspects of it go back to some of the Diggers and medieval agrarian reformers, even perhaps the Peasants Revolt. It claims a broader remit than conventional economics, and draws inspiration from aspects of the spirituality of William Blake, the radical self-sufficiency of Thomas Jefferson, and the visions of peaceful co-existence of Gandhi and Kropotkin.

What all these thinkers have in common is an approach to economics which is sceptical about money: which understands that human happiness and well-being are not measured very well in terms of money wealth, and that just as money is subservient to morality, spirituality and humanity, so economics is part of a wider eco-system that explains it, limits it and makes it real. It is an economics that broadens our definitions of wealth, rather than narrows them down to an abstraction that may or may not relate to human fulfilment.

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