Date of Birth: August 16, 1911
Zodiac Sign: Leo
Date of Death: September 4, 1977
Biography
Ernst Friedrich “Fritz” Schumacher, commonly known as E. F. Schumacher, was a renowned German-British economist, statistician, and author. Born in Bonn, Germany, he pursued his education at the University of Bonn, Oxford University, and Columbia University. Schumacher is most famous for his critique of Western economies and his advocacy for sustainable and human-centered approaches to economics. His seminal work, “Small Is Beautiful: A Study of Economics As If People Mattered,” published in 1973, had a profound impact on economic thought by promoting the idea of “Buddhist economics,” which prioritizes well-being over rampant consumerism. Schumacher’s career included notable positions such as Chief Economic Adviser to the National Coal Board in the United Kingdom, where he served from 1950 to 1970. He was deeply influenced by his travels to Burma and India, where he saw firsthand the benefits of small-scale, localized economies. In addition to his writings, Schumacher founded the Intermediate Technology Development Group (now known as Practical Action) to promote appropriate technologies in developing countries. Schumacher’s ideas remain influential in the fields of environmental sustainability, ecological economics, and human-scale development. His legacy is celebrated through various institutions and initiatives that continue to promote his vision of a more sustainable and equitable world.
5 Interesting Facts about E. F. Schumacher
1. E. F. Schumacher’s book “Small Is Beautiful” was named one of the 100 most influential books published since World War II by The Times Literary Supplement.
2. Schumacher was a Rhodes Scholar at Oxford University, where he studied economics.
3. He coined the term “Buddhist economics,” which advocates for economic practices that prioritize well-being and environmental sustainability.
4. Schumacher’s ideas were significantly influenced by his time in Burma, where he advised the government on economic development.
5. He founded the Intermediate Technology Development Group in 1966, focusing on sustainable development and appropriate technologies for marginalized communities.
5 Most Interesting Quotes from E. F. Schumacher
1. “Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius—and a lot of courage—to move in the opposite direction.”
2. “The most striking thing about modern industry is that it requires so much and accomplishes so little.”
3. “Small is beautiful when small is skillful.”
4. “Infinite growth of material consumption in a finite world is an impossibility.”
5. “Wisdom demands a new orientation of science and technology toward the organic, the gentle, the elegant and beautiful.”
Highest Net Worth Achieved
E. F. Schumacher’s net worth was never publicly documented, but his influence and contributions to economic thought are considered invaluable.
Children
E. F. Schumacher had four children: three daughters named Barbara, Monique, and Veronique, and a son named John Schumacher.
Relevant Links
1. [E. F. Schumacher Society](https://www.schumachersociety.org
2. [Practical Action](https://practicalaction.org
3. [Small Is Beautiful – Summary](https://en.wikipedia.org/wiki/Small_Is_Beautiful
4. [Biography on Britannica](https://www.britannica.com/biography/E-F-Schumacher
5. [Schumacher Center for a New Economics](https://centerforneweconomics.org
