New Publication: In memoriam: Herman Daly (1938-2022)

Joshua Farley and Tommaso Luzzati have published their article “In memoriam: Herman Daly (1938-2022)” in Ecological Economics.

Just one year after earning his PhD, Herman Daly wrote Economics as a Life Science (Daly, 1968), helping to lay the foundations for ecological economics decades before the field was even named. He recognized the impossibility of endless economic growth on a finite planet and our dependence on natural systems for our survival. He discussed the concepts of the steady state economy and social metabolism. He stressed that the economy and human cultures are evolving systems while mathematical analysis—the foundation of mainstream economics— is ill-suited to understanding the dynamics of evolutionary change.