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Schumacher, Ernst Friedrich, 1911-77 (B3)<br />UK economist and prophet who was born in Bonn and educated at Berlin, Bonn, Oxford and Columbia Universities. When he was interned in the UK in 1940-5, he worked first as an agricultural labourer and then at the Oxford Institute of Statistics on the problem of a new INTERNATIONAL MONETARY SYSTEM, which he discussed with KEYNES. He was naturalized British at the end of the war so that he could become a member (1946-50) of the British section of the Control Commission in Germany. From 1950 to 1970 he was economic adviser and subsequently Director of Statistics to the National Coal Board. His increasing interest in Buddhism gave his economics a distinctively ecological character and prompted his appointment as economic adviser to the government of Burma. He was the princi- pal proponent of INTERMEDIATE TECHNOLOGY and of self-help to solve the rural poverty problems of less developed countries. His famous attack on materialism and consumerism was in his immensely popular set of essays Small is Beautiful; as its subtitle A Study of Economics as if People Mattered claimed, there can be an economics based on humanitarian considerations.<br /> <br /><em>Reference</em><br />Schumacher, E. F. (1973) Small is Beautiful: A Study of Economics as if People Mattered, London: Blond & Briggs.<br /> Wood, B. (1984) Alias Papa: A Life of Fritz Schumacher, London: Jonathan Cape.
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<strong>Payment period</strong> – The basis on which a school must schedule and deliver disbursements for a particular loan period. A payment period is determined by the structure of the school' s academic program.
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