Herman Daly
Herman Daly

Herman Daly - on Homo Economicus

Tuesday, 14 February 2012

What really counts for our happiness and welfare? Professor Herman Daly on what's important for economic man.

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Herman Daly is Professor of Ecological Economics, School of Public Policy, University of Maryland, USA.

For thirty years he has been a voice in the wilderness detailing the flaws in the growth economy, examining promises of prosperity that neither technology nor resource manipulation can ever fulfill. Not only are there limits to growth, growth does not feed our spiritual or moral lives, a reality almost completely ignored by neo-classical economists.

Daly wants people to realize why some of our most basic assumptions of economics are wrong.

Daly's book Steady-State Economics is still iconic for those who see the advantages of small scale production, decentralization, increased durability of products, and increased long-run efficiency in the the use of scarce resources.

He also founded CASSE (the Centre of the Steady State Economy) - an organization that explores economic growth in earnest, including its downsides. CASSE work to confront the truth that there are limits to growth, and examine other possibilities for managing our economic affairs.

Watch the interview with him in the video below:

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