BIG, BIGGER, is BEST or Could Small Be Beautiful?

In my last attempt to describe the “BIG” that we find surrounding us, I can say my mind

seeks to be philosophical and also comment what could be considered on the

juxtaposition of current economic reality.

Adam Smith a Scottish economist and moral philosopher in 1776 published a book, a

“treatise” entitled the Wealth of Nations. According to Wikipedia Smith laid out a system

of political economy with the famous metaphor of the & quot;invisible hand& quot; regulating the market place through individual self-interest. He provided a comprehensive analysis of

labor, capital, and rent. The book contained Smith's critique of mercantilism, high taxes

on luxury goods, the slave trade, and monopolies, advocating for free competition and

open markets. The work evolved and gained widespread recognition, shaping economic

philosophies, government policies, and the intellectual discourse on trade, taxation, and

economic growth in the coming centuries, To paraphrase, he believed that multiple

sources of smaller scaled enterprises of competition was best for markets. He warned

that government regulation coupled with the protection of large global trading

companies known in his time as Mercantilism would be one of the biggest threats to real

capitalism. As Dwight Eisenhower two centuries later would warn of the “unwarranted

influence”of the military-industrial complex and their corruption of the politicians’ morals

and ideals. Add to this the huge global fossil fuel companies, and worldwide technology

companies, the argriculture, mining sectors, the bigness is staggering.

the treatise offered a critical examination of the Mercantilist policies of the day and

advocated the implementation of free trade and effective tax policies to drive economic

progress. It represented a clear shift from previous economic thought by proposing that

self-interest and the forces of supply and demand, rather than regulation, should

determine economic activity. He is attributed to advancing the concept of Laissez -faire

literally “allow to do” no interference with the marketplace, as he called it “the invisible

hand” that would allow those accumulating wealth to see in their best interest to share.

In today’s world with both Big government and monopolistic and oligarchies of huge

companies it is a tendency of the extreme wealth achievers to share after one is

regarded insanely rich. One wonders is there a place for smaller scale and rewarding

outcomes both in wealth and satisfaction.

Small Is Beautiful: A Study of Economics As If People Mattered according to Wikipedia

is a collection of essays published in 1973 by German-born British economist

E. F. Schumacher. The title "Small Is Beautiful" came from a principle espoused by

Schumacher's teacher Leopold Kohr [1] (1909–1994) advancing small, appropriate

technologies, policies, and politics as a superior alternative to the mainstream ethos of

"bigger is better".

Overlapping environmental, social, and economic forces such as the 1973 energy crisis

and popularization of the concept of globalization helped bring Schumacher's Small Is

Beautiful critiques of mainstream economics to a wider audience during the 1970s. In

1995 The Times Literary Supplement ranked Small Is Beautiful among the 100 most

influential books published since World War II. It resonates with contemporary concerns

about sustainability and the quality of life, advocating for the shifting towards smaller

more ethical enterprises that prioritize community needs along with or over economic

growth.

Whether we struggle or not over what to call our BIG System. Wikipedia strives to

portray what is called capitalism today by so many is an elevated and desired economic

theory and system yet unknowingly this definition and belief has now reversed itself

Capitalism is now possibly Mercantilism. Capitalism calls for a minimum of government

intervention and ownership of capital, trade, and industry by private entities and

individuals. Mercantilism involves state control and regulation. Capitalism is said to

promote individual freedom. Mercantilism is said to suppress it.

Globalization also has an elevated meaning. It is the process of the world's economies,

cultures, and people becoming more connected and interdependent through increased

trade, investment, travel, and the exchange of ideas and technology across borders. In

simple terms, it's the idea of a world that is becoming one big global community, with

fewer barriers to the movement of goods, services, and information between

countries. This all sounds like a big, bigger wonderful world.

Corporate globalization refers to the process where businesses expand and operate

across national borders, fostering deeper economic, technological, and cultural

interdependence between countries. This involves increased international trade, foreign

investment, the dispersal of global supply chains, and the free flow of information and

talent, ultimately creating a more interconnected global economy where companies can

access new markets, resources, and labor while facing global competition and varied

international regulations.