The individualism of current economic theory is manifest in the purely self-interested behaviour it generally assumes. It has no real place for fairness, malevolence, and benevolence, nor for the preservation of human life or any other moral concern.

Herman E. Daly

Categorized in : Self Real Behaviour

There is something fundamentally wrong in treating the Earth as if it were a business in liquidation.

Herman E. Daly

nature earth motivational

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

Herman E. Daly

economy environment nature

We need an economics fit for purpose in a finite and entropic world.

Herman E. Daly

purpose world needs

Even if we could grow our way out of the crisis and delay the inevitable and painful reconciliation of virtual and real wealth, there is the question of whether this would be a wise thing to do. Marginal costs of additional growth in rich countries, such as global warming, biodiversity loss and roadways choked with cars, now likely exceed marginal benefits of a little extra consumption. The end result is that promoting further economic growth makes us poorer, not richer.

Herman E. Daly

real wise country

Environmental degradation is an iatrogenic disease induced by economic physicians who treat the basic malady of unlimited wants by prescribing unlimited growth.... Yet one certainly does not cure a treatment-induced disease by increasing the treatment dosage.

Herman E. Daly

environmental physicians growth

Nonrenewable resources should be exploited, but at a rate equal to the creation of renewable substitutes.

Herman E. Daly

resources creation should

The laws of thermodynamics restrict all technologies, man's as well as nature's, and apply to all economic systems whether capitalist, communist, socialist, or fascist. We do not create or destroy (produce or consume) anything in a physical sense- we merely transform or rearrange. And the inevitable cost of arranging greater order in one part of the system (the human economy) is creating a more than offsetting amount of disorder elsewhere (the natural environment).

Herman E. Daly

technology law men

Growth is widely thought to be the panacea for all the major economic ills of the modern world.

Herman E. Daly

modern growth world

Presumably, technology has made man increasingly independent of his environment. But, in fact, technology has merely substituted nonrenewable resources for renewables, which is more an increase than a decrease in dependence.

Herman E. Daly

independent technology men

If nonsatiety were the natural state of human nature then aggressive want-stimulating advertising would not be necessary, nor would the barrage of novelty aimed at promoting dissatisfaction with last year's model. The system attempts to remake people to fit its own presuppositions. If people's wants are not naturally insatiable we must make them so, in order to keep the system going.

Herman E. Daly

order people years

The problem with the World Bank has to do with development - the spreading of Western over-consumption worldwide.

Herman E. Daly

development problem world

But the macro-economy is not the Whole. It too is a Part, a part of the larger natural economy, the ecosphere, and its growth does inflict opportunity costs on the finite Whole that must be counted.

Herman E. Daly

growth doe opportunity

While the invisible hand looks after the private sector, the invisible foot kicks the public sector to pieces.

Herman E. Daly

invisible-hand feet hands

Growth chestnuts have to be placed on the unyielding anvil of biophysical realities and then crushed with the hammer of moral argument.

Herman E. Daly

hammers growth reality

We say we need to clean up the environment; to clean up the environment, we need to be richer. But maybe getting richer is actually making us poorer.

Herman E. Daly

clean environment needs

Malthus has been buried many times, and Malthusian scarcity with him. But as Garrett Hardin remarked, anyone who has to be reburied so often cannot be entirely dead.

Herman E. Daly

scarcity earth mother

Reproduction is more pleasurable than death.

Herman E. Daly

reproduction