The Wealthiest Countries Are Not Always the Happiest

The extent to which a country is “developed” is usually expressed in terms of its Gross Domestic Product (GDP). The GDP of a country is the market value of all its goods and services at any given time. The higher the GDP, the more material goods and wealth that country possesses. The country with the highest…

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E.F. Schumacher Sought to Redesign Economics Based on Sustainability and Well-Being

E.F. Schumacher (1911-1977) was born in Bonn, Germany and would become one of the most influential economic thinkers of the 20th century. His most well-known book, Small is Beautiful: A Study of Economics as if People Mattered (1973) would give weight to the growing environmental concerns of the 70s. Schumacher was writing at a time when the…

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