The Wisdom of Frugality – Why Less is More – More or Less

This book is a brilliant, witty and pertinent reflection on the wisdom of frugality from Socrates through the Stoics to Thoreau. Its starting point is that frugality has traditionally been regarded as a virtue that associates simple living with wisdom, integrity and happiness and therefore as a key to the good life. The author unpacks all this in seven chapters covering the nature of simplicity, why simple living is supposed to improve us and make us happier, then why the philosophy of frugality is a hard sell, and the pros and cons of extravagance. The final chapters are devoted to issue of frugality in a modern economic time of growth, and the environmentalist case for simple living. The discussion is incredibly useful in clarifying implications and overlap of various related concepts and the tension between simple living and the degree of consumerism necessary to keep the modern economy functioning. In our modern world, to what extent is frugality an outmoded value?

The author draws widely on the history of philosophy, showing how recommendations of the simple life are mainly advanced for moral and prudential reasons, although aesthetic and religious considerations also have a bearing on the development of virtue and character. He demonstrates that arguments for frugality and simplicity tend to go hand in hand with criticisms of extravagance and luxury. However, the modern economy encourages us to improve ourselves materially, and reminds us that our spending is another person's income in a single economic system. Moreover, it is clear that some of the greatest works of art and architecture are the result of extravagance, without which, the author claims, the tourist industry would be impoverished. When visiting Florence, does one wish that the Medicis had been more frugal? And the luxury industry is currently worth $900 billion a year, employing many people in the process. There is a tension between the chapters on frugality in a modern economy (think of the economic consequences of no one in advanced economies buying any Christmas presents) and the environmentalist case for frugality given the impact of our species on planetary resources. However, it is possible to re-channel some demand into new fields, although the overall level of demand is now an important question in relation to advances in robotics - which the author does not refer to. There is much more in this rich book than I have space to mention and I can highly recommend it as a very enjoyable and informative read.