Economics for a Full World

Authors

Herman Daly, University of Maryland at College Park

Date of Event

6-13-2022

Description

Because of the exponential economic growth since World War II, we now live in a full world, but we still behave as if it were empty, with ample space and resources for the indefinite future. The founding assumptions of neoclassical economics, developed in the empty world, no longer hold, as the aggregate burden of the human species is reaching—or, in some cases, exceeding—the limits of nature at the local, regional, and planetary levels. The prevailing obsession with economic growth puts us on the path to ecological collapse, sacrificing the very sustenance of our well-being and survival. To reverse this ominous trajectory, we must transition toward a steady-state economy focused on qualitative development, as opposed to quantitative growth, and the interdependence of the human economy and global ecosphere. Developing policies and institutions for a steady-state economy will require us to revisit the question of the purpose and ends of the economy.

Herman Daly is Ecological Economist, Emeritus Professor University of Maryland, former Senior Economist in World Bank environmental Division, former Alumni Professor of Economics, Louisiana State University. In 1996, he was awarded the Right Livelihood Award for "defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community." PhD Vanderbilt University; BA Rice University. Author of Beyond Growth, and Steady-State Economics among other books.

Sponsored By

Gonzaga University Center for Climate, Society, and the Environment; and School of Business Administration

Recommended Citation

Daly, Herman, "Economics for a Full World" (2022). Climate, Water, and the Environment Events. 22.
https://repository.gonzaga.edu/climateevents/22

Copyright Information

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