By |Published On: November 25th, 2014|Categories: Uncategorized|

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: Wesley Gray, PhD

Wesley Gray, PhD
After serving as a Captain in the United States Marine Corps, Dr. Gray earned an MBA and a PhD in finance from the University of Chicago where he studied under Nobel Prize Winner Eugene Fama. Next, Wes took an academic job in his wife’s hometown of Philadelphia 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 firm dedicated to an impact mission of empowering investors through education. He is a contributor to multiple industry publications and regularly speaks to professional investor groups across the country. Wes has published multiple academic papers and four books, including Embedded (Naval Institute Press, 2009), Quantitative Value (Wiley, 2012), DIY Financial Advisor (Wiley, 2015), and Quantitative Momentum (Wiley, 2016). Dr. Gray currently resides in Palmas Del Mar Puerto Rico with his wife and three children. He recently finished the Leadville 100 ultramarathon race and promises to make better life decisions in the future.

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