Herman E. Daly: Economy

Herman E. Daly is American economist. Explore interesting quotes on economy.
Herman E. Daly: 34   quotes 1   like

“Organisms cannot survive in a medium consisting of their own final outputs. Neither can economies.”

Herman E. Daly

Source: Steady-State Economics, 1977, p. 22

“The optimal scale of the economy is smaller, the greater (a) the degree of complementarity between natural and man-made capital; (b) our desire for direct experience of nature; and (c) our estimate of both the intrinsic and instrumental value of other species. The smaller the optimal scale of the economy, the sooner its physical growth becomes uneconomic.”

Herman E. Daly

Ecological Economics and the Ecology of Economics: Essays. 1999, p. 20.

Optimism , Nature

“The economy is a wholly owned subsidiary of the environment, not the reverse.”

Herman E. Daly

Attributed to Herman Daly in: Tristan Clark (2007). Stick This in Your Memory Hole. p. 19

“Economists have focused too much on the economy’s circulatory system and have neglected to study its digestive tract. Throughput growth means pushing more of the same food through an ever larger digestive tract; development means eating better food and digesting it more thoroughly.”

Herman E. Daly

Herman E. Daly (2008), as cited in: Ian Jenkins, ‎Roland Schröder (2013). Sustainability in Tourism: A Multidisciplinary Approach. p. 143

Food , Study

“We have lived for 200 years in a growth economy. In this time we have come to believe that all our major economic ills – from unemployment and poverty to overpopulation and even environmental degradation – can be solved by more growth. And if the global economy existed in a void perhaps that would be true. But it does not.”

Herman E. Daly

A steady-state economy, 2008

Time

“Instead the economy is a subsystem of the finite biosphere that supports it. When the economy’s expansion encroaches too much on the surrounding biosphere, we begin to sacrifice natural capital (animals, plants, minerals and fossil fuels) that is worth more than the manmade capital (roads, factories, appliances) added by ‘growth’.”

Herman E. Daly

A steady-state economy, 2008

Support , Nature , Animals