The economic calculus, as applied by present-day economics, forces the industrialist to eliminate the human factor because machines do not make mistakes, which people do. Hence the enormous effort at automation and the drive for ever-larger units. This means that those who have nothing to sell by their labour remain in the weakest possible bargaining position. The conventional wisdom of what is now taught as economics by-passes the poor, the very people for whom development is really needed. The economics of giantism and automation is a left-over of nineteenth-century conditions and nineteenth-century thinking and it is totally incapable of solving any of the real problems of today. An entirely new system of thought is needed, a system based on attention to people, and not primarily attention to goods.
Small is Beautiful: Economics as if People Mattered