CentralNotice Humanistic economics From Wikipedia, the free encyclopedia Jump to: navigation , search Humanistic economics is a distinct pattern of economic thought with old historical roots that have been more recently invigorated by E. F. Schumacher 's Small Is Beautiful: Economics as if People Mattered (1973). Proponents argue for "persons-first" economic theories as opposed to mainstream economic theories which are understood as often emphasizing financial gain over human well-being. In particular, the overly abstract human image implicit in mainstream economics is critically analyzed and instead it attempts a rethinking of economic principles, policies and institutions based on a richer and more balanced view of human nature. According to Schumacher: Call a thing immoral or ugly, soul-destroying or a degradation of man, a peril to the peace of the world or to th...