Cities 1.5 Herman Daly’s Great Debates: The enduring vitality of Ecological Economics
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Mar 19, 2024 In this enlightening conversation, Peter Victor, Professor Emeritus at York University and an expert in ecological economics, unpacks Herman Daly's revolutionary ideas. He critiques GDP as a flawed measure of success and argues for alternatives that prioritize sustainability and well-being. Victor challenges the notion that technology alone can resolve environmental crises, advocating for richer metrics like ecological footprints. He discusses how cities must manage resources within planetary boundaries and envisions post-growth societies where consumption patterns shift for better equity.
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Economy Embedded In The Biosphere
- Ecological economics views the economy as embedded within the biosphere with finite material and energy flows.
- Peter Victor argues this dependency makes environmental limits central to economic analysis.
Steady State Over GDP Growth
- Herman Daly promoted a steady state economy where population and capital stocks are maintained sustainably.
- Daly emphasized physical limits, not steady GDP, as the core of his economic model.
Avoid Tech-Only Solutions
- Don't assume technology alone will solve ecological limits without material and energy inputs.
- Focus policy on material and energy ingredients, not just technical recipes, Victor warns.
