E.F. Shumacher on Complexity

E.F. Shumacher on Complexity

November 25, 2014 Uncategorized
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(Last Updated On: November 25, 2014)

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 R. Gray, Ph.D.

After serving as a Captain in the United States Marine Corps, Dr. Gray received a PhD, and was a finance professor at Drexel University. Dr. Gray’s interest in entrepreneurship and behavioral finance led him to found Alpha Architect. Dr. Gray has published three books: EMBEDDED: A Marine Corps Adviser Inside the Iraqi Army, QUANTITATIVE VALUE: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors, and DIY FINANCIAL ADVISOR: A Simple Solution to Build and Protect Your Wealth. His numerous published works has been highlighted on CBNC, CNN, NPR, Motley Fool, WSJ Market Watch, CFA Institute, Institutional Investor, and CBS News. 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!