Economic Heresy: Herman Daly #113

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Manage episode 122140610 series 114468
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Robust economic growth has become the Holy Grail of public policy and politics. But some economists and many scientists have come to believe growth has become “uneconomic." Former World Bank Senior Economist Herman Daly explains this in terms we can all understand. Daly co-founded the journal, Ecological Economics, and has written and spoken extensively about the fact that “the economy is a sub-system of a larger system. The larger system being the biosphere – the environment.” In this newly released 2010 interview, Herman Daly postulates that, in a full world, the costs of further economic growth exceed the benefits, and we are reaching a point where it is physically impossible to keep growing the global economy. Using easy to understand, real-world examples, Daly delivers an aha moment. After listening to this interview, one is likely to conclude, “Of course! It’s the environment, stupid!”

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