I was taught to accept, without question, a set of theorems and beliefs in which human beings are reduced to income-constrained, rational consumers and utility maximizers operating within an economy where prices for goods and services and income distribution are determined through the dynamics of supply and demand. I was taught a series of beliefs that formed the “theology” of economics based on neoclassical economic theorems. We know that Venice flourished during the Renaissance thanks to the wise guidance of Luca and the design talents of Leonardo.Īfter taking articles as a chartered accountant, I returned to the University of Alberta and studied economics and forestry. He also taught that all wealth belonged to God, the Creator, and that taking a regular account of the performance of an enterprise was effectively an accounting to God for the wise stewardship of the assets that were key to a flourishing enterprise and the Venetian economy. He taught that a wise business person should pay attention to the physical inventory and the conditions of the assets and liabilities (risks) accounted for in a balance sheet that contribute to the flourishing and resilience of both the business enterprise and the household associated with and dependent on it. Luca counselled business people in Venice, which at the time included guilds or cooperatives.

I learned that our modern accounting system dates back to the Renaissance, when the Franciscan monk and mathematician Luca Pacioli and Leonardo da Vinci developed the double-entry bookkeeping system we still use today. I was originally schooled in accounting, which taught me the importance of taking a physical inventory of assets, accounting for liabilities and full cost accounting to inform decisions. This diversity of education has given me a variety of lenses through which to view the world. I was schooled in neoclassical economics, forestry and financial accounting, with an interest in theology. Mark Anielski: My own path to understanding the inherent shortcomings of our current economic model focused solely on economic growth is described in my book. How did you arrive at your present understanding of the contemporary economic paradigm as being a road leading to nowhere? What was the most important factor in urging you to look for new ways of understanding economics and the concept of wellbeing? Almantas Samalavicius: I see your book The Economics of Happiness 1 not only as a thought-provoking challenge to contemporary economic assumptions that dominate many parts of the globe, but also as a tool with which we can reconsider, rework and dismantle the present systems used to measure economic “growth” and wellbeing in terms of endlessly rising consumption.

What is the pursuit of happiness