“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

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Instead the economy is a subsystem of the finite biosphere that supports it. When the economy’s expansion encroaches to…" by Herman E. Daly?

Herman E. Daly 17

American economist 1938

Steve Chase American activist

Steve Chase, ed., Defending the Earth: A Dialogue Between Murray Bookchin and Dave Foreman(Boston South End Press, 1991, p 57-59); O'Leary, Richard. Environmental mafia: the enemy is us. pp. 41

“The factors we have listed (innovation, economies of scale, education, capital accumulation, etc.) are not causes of growth; they are growth.”

Douglass C. North (1920–2015) American Economist

Source: The rise of the western world, 1973, p. 2

“The most interesting thing in the world, from the standpoint of animal economy—which of course includes human economy—is the wonderful laboratory or factory of the plant…”

Luther Burbank (1849–1926) American botanist, horticulturist and pioneer in agricultural science

p, 125
How Plants are Trained to Work for Man (1921) Vol. 5 Gardening

“Believing in capitalism does not mean believing in growth, the economy, or efficiency. Desirable as these may be, these are only the results. Belief in capitalism is, fundamentally, belief in mankind.”

Johan Norberg book In Defense of Global Capitalism

In Defense of Global Capitalism
Context: Basically, what I believe in is neither capitalism nor globalization... I believe in man's capacity for achieving great things and in the combined force resulting from encounters and exchanges. I plead for greater liberty and a more open world... because it provides a setting which liberates individuals and their creativity as no other system can. It spurs the dynamism which has led to human, economic, scientific, and technical advances, and which will continue to do so. Believing in capitalism does not mean believing in growth, the economy, or efficiency. Desirable as these may be, these are only the results. Belief in capitalism is, fundamentally, belief in mankind.

“Degrowth is completely different. It is about shifting to a different kind of economy altogether – an economy that doesn't need growth in the first place. An economy that's organised around human flourishing and ecological stability, rather than around the constant accumulation of capital.”

Jason Hickel (1982) author

Less is More: How Degrowth Will Save the World (2021)
Source: Pathways to a Post-Capitalist World, p. 207

“Increase on productivity and decrease in unit costs (often identified with economies of scale) resulted far more from the increases in the volume and velocity of throughput then from a growth in the size of the factory and plant.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 281; Cited in: Best (1990, p. 48).

“To speak of 'limits to growth' under a capitalistic market economy is as meaningless as to speak of limits of warfare under a warrior society. The moral pieties, that are voiced today by many well-meaning environmentalists, are as naive as the moral pieties of multinationals are manipulative. Capitalism can no more be 'persuaded' to limit growth than a human being can be 'persuaded' to stop breathing. Attempts to 'green' capitalism, to make it 'ecological', are doomed by the very nature of the system as a system of endless growth.”

Murray Bookchin (1921–2006) American libertarian socialist author, orator, and philosopher

Remaking Society (1990).

“Economic growth is the aggregate effect of the quest to accumulate capital and extract profit. Capitalism collapses without growth, yet perpetual growth on a finite planet leads inexorably to environmental calamity.”

George Monbiot (1963) English writer and political activist

"Dare to declare capitalism dead – before it takes us all down with it" https://www.theguardian.com/commentisfree/2019/apr/25/capitalism-economic-system-survival-earth, The Guardian, 25 April 2019.

“To understand the economy then is to comprehend how it is driven by the animal spirits. Just as Adam Smith’s invisible hand is the keynote of classical economics, Keynes’ animal spirits are the keynote to a different view of the economy — a view that explains the underlying instabilities of capitalism.”

Robert J. Shiller book Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism

George Akerlof and Robert Shiller. Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, 2009, Preface

George Akerlof book Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism

George Akerlof and Robert Shiller. Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, 2009, Preface

Help us to complete the source, original and additional information

Herman E. Daly 17

Related quotes

Related topics