Tuesday 4 December 2012

Economics; the means or the idol

'...as I have argued all along, no system or machinery or economic doctrine or theory stands on its own two feet: it is invariably built on a metaphysical foundation, that is to say, upon man's basic outlook on life, its meaning and its purpose. I have talked about the religion of economics, the idol worship of material possessions, of consumption and the so-called standard of living, and the fateful propensity that rejoices in the fact that "what were luxuries to our fathers have become necessities for us"' Schumacher

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