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Economics and the Good Life: Keynes and Schumacher

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  • Victoria Chick

Abstract

It is, I think, interesting to compare the views of E. F. Schumacher and J. M. Keynes on the ethical aspects of economics – both the economic systems of which they were a part and economics as a subject. Both agreed that economics (as commonly understood and taught) applied to only a limited sphere of life. They agreed about the role of profits, the market and the love of money. And they both believed that there was much more to life than getting and spending. For Keynes, economic activity was the means to bring society to a position where the good life could be enjoyed. Schumacher was even more ambitious: he thought economic activity should be made part of the good life.

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  • Victoria Chick, 2013. "Economics and the Good Life: Keynes and Schumacher," Economic Thought, World Economics Association, vol. 2(2), pages 1-33, October.
    • Handle: RePEc:wea:econth:v:2:y:2013:i:2:p:33
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    References listed on IDEAS

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    1. Victoria Chick, 1992. "On Money, Method and Keynes," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-21935-3 edited by Philip Arestis & Sheila C. Dow.
    2. J. M. Keynes., 2009. "Economic Possibilities for Our Grandchildren," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 6.
    3. D. E. Moggridge, 2005. "Keynes, the Arts, and the State," History of Political Economy, Duke University Press, vol. 37(3), pages 535-555, Fall.
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    Cited by:

    1. Shu-Heng Chen, 2017. "Special feature: Computational and simulation paradigms for evolutionary and institutional economics," Evolutionary and Institutional Economics Review, Springer, vol. 14(1), pages 225-229, June.
    2. Abhipsa Pal & Rahul De’ & Tejaswini Herath, 2020. "The Role of Mobile Payment Technology in Sustainable and Human-Centric Development: Evidence from the Post-Demonetization Period in India," Information Systems Frontiers, Springer, vol. 22(3), pages 607-631, June.
    3. Geoff Tily, 2023. "Victoria Chick's Keynes in Time," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1296-1330, September.

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