The document explores E.F. Schumacher's ideas on small-scale, sustainable economics and critiques the reliance on GDP as a measure of success. It emphasizes the need for a new approach to progress that values human wellbeing and the health of the planet over infinite economic growth. The text presents various actions and visions for creating a more resilient and diverse economy, encouraging innovative thinking and community engagement.

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Small is Powerful:
E.F Schumacher’s ideas in the
21st century
A Powerful Vision
New Economics Foundation (NEF)
Graham Randles, NEF Consulting
20th June 2015

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From history
to the “middle
way”
NEF’s approach to systemic change

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A new
framework for
measuring
progress

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"The idea of infinite or unlimited growth, which proves so
attractive to economists, financiers and experts in
technology ... is based on the lie that there is an infinite
supply of the earth's goods, and this leads to the planet
being squeezed dry at every limit.“
"Yet all is not lost. Human beings, while capable of the
worst, are also capable of rising above themselves,
choosing again what is good, and making a new start."

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The media storm that tends to accompany the release of the
quarterly GDP figures seems wildly disproportionate to how
meaningful that data really is.
Indeed, the hype around GDP seems to have contributed to
this single figure often being championed as the overriding
indicator according to which the success of our politicians
can be measured.

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If not GDP
then what?

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The Crown Estate –
Total Contribution Economics
ECONOMIC SOCIAL ENVIRONMENTAL
DIRECT
INDIRECT
ENABLED
http://www.thecrownestate.co.uk/media/5282/total-contribution-report.pdf

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Having the
courage to do
things
differently –
Design
Council:
Knee High
Design
Challenge
“The health and wellbeing of today’s
children and those children when they
become adults depend on us having the
courage and imagination to do things
differently”

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Design Council
Knee High
Design Challenge
Having the
courage to do
things
differently
• One size does not fit all
• If you’re always seeing the same problems,
you will always find the same answers
• The best ideas emerge from between the
cracks
• Making something good happen takes time
and it takes nerve
• The need for evidence should not outweigh
the need for new ideas

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Vision:
Prosperity
and wellbeing
• Connect
• Be active
• Take notice
• Keep learning
• Give

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Action:
Reclaim time!

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Vision:
Healthy
people,
healthy
planet
“I want to eat fish when I grow up”
- Evita, aged 7
“…there’s barely any left in the sea.”
- Sacha, aged 10

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Action:
Speak out!
“Paint a Fish” campaign - 31,600 adults and
children urge ministers to restore fish stocks
“[Your] initiatives…contributed positively in
raising awareness for the reform of the
common fisheries policy…the reform would
not have been possible without civil society’s
support”
- Maria Damanaki, European Commissioner

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http://carbonvisuals.com/work/carbon-visuals-brings-radical-emissions-data-to-life
https://www.flickr.com/photos/carbonquilt/
Vision:
a world
without fossil
fuels

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Action:
Move your
money

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Vision:
A diverse,
resilient and
creative
economy

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“Returning RBS to the structure that
caused the crisis makes no sense”
Action:
Speak out!

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Action:
Connect!
NEON - New Economy Organisers Network

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Action:
Campaigning
and
influencing
policy

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Thank you!
NEF (New Economics Foundation)
NEF Consulting
graham.randles@nefconsulting.com
Any questions?