E.F. Shumacher on Complexity

/E.F. Shumacher on Complexity

E.F. Shumacher on Complexity

By | 2017-08-18T17:05:56+00:00 November 25th, 2014|Uncategorized|1 Comment

E.F Schumacher has a great book I’ve been exploring: Small is Beautiful: Economics as if People Mattered.

To be completely honest, the reason I stumbled upon Schumacher is due to the title of his book–I got a chuckle when I read it.

You can read about the old-school economist on wikipedia, but the quick summary on Schumacher is that he was an influencer economist in the UK and a protege of John Maynard Keynes.

Schumacher has some fun insights on complexity:

All changes in a complex mechanism involve some risk and should be undertaken only after careful study of all the facts available.

And my favorite quote:

Any third-rate engineer or researcher can increase complexity; but it takes a certain flair of real insight to make things simple again.

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About the Author:

Wes Gray
After serving as a Captain in the United States Marine Corps, Dr. Gray earned a PhD, and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management that delivers affordable active exposures for tax-sensitive investors. Dr. Gray has published four books and a number of academic articles. Wes is a regular contributor to multiple industry outlets, to include the following: Wall Street Journal, Forbes, ETF.com, and the CFA Institute. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania.
  • Steve

    Love that last quote!