Herman Daly

On this episode, we meet with ecological economist and professor emeritus at the University of Maryland, Herman Daly. Daly discusses the biophysical underpinnings of human economies, and how a social system that is more tethered to our ecological reality might come into being. Daly explains how the transformation from classical economics to neoclassical economics created an understanding of the world that prioritized utility and money above all else. How did neoclassical economics contribute to our current predicament? Further, Daly explores what he believes to be the best-case scenario humans face in the next decade. About Herman Daly Herman Daly is Professor Emeritus of economics at the University of Maryland School of Public Policy, former senior economist at the World Bank, and a founder of the field of ecological economics. He is the author of For The Common Good, Valuing the Earth, the textbook Ecological Economics, and many other books, essays, and academic papers For Show Notes and Transcript visit: https://www.thegreatsimplification.com/episode/06-herman-daly

Herman Daly, a pioneering ecological economist, argues against endless economic growth and advocates for a sustainable, steady-state economy. Joined by Peter Victor, his biographer, and his sister Denis Lynn Daly Heyck, they discuss the dangers of neoliberal policies and the necessity of innovative economic approaches. They share personal anecdotes about resilience and the importance of limiting resource consumption. The conversation honors Daly's legacy while contemplating how his ideas can address today’s ecological and societal challenges.