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Ecological Economics

Herman Daly, Ph.D., is an ecological economist and professor emeritus at the University of Maryland’s School of Public Policy. His life’s work is to explore how massive-scale human activities can be ordered in ways that take into account the biosphere — “ecosystem services” in economic parlance — the life support systems on which everything depends. As a professor, he’s encouraged students to look beyond the existing neoclassical economic paradigm — the one that says we can, in essence, have infinite growth on a finite planet. Daly came of intellectual age in the late 1950s and early ’60s while attending Rice University in Houston, Texas, his home state. He believed economics was a good choice for a major because it combined humanities, science and philosophy, and he figured it might help him make a living upon graduation. But he later decided choosing economics was a mistake, “because economics along with social science generally does not really have one foot in the sciences and the other foot in the humanities. I kind of thought it had both feet in the air,” he says. Still, that sophomore-year mistake led to his life’s work — attempting to ground economics in both the physical sciences and in the humanities and ethics. After receiving his Ph.D. from Vanderbilt University, Daly taught economics for a time, then went to Northeast Brazil to teach as Ford Foundation Visiting Professor at the University of Ceara. Daly worked as a senior economist in the Environment Department of the World Bank from 1988 to 1994.

He also served as a research associate at Yale University, visiting fellow at the Australian National University, and a senior Fulbright lecturer in Brazil. He has more than 100 articles to his name in professional journals and anthologies as well as many books, including Ecological Economics and the Ecology of Economics (1999); Ecological Economics: Principles and Applications (with J. Farley, 2003, 2011); and From Uneconomic Growth to a Steady-State Economy (2014).

Interviewed by Leigh Glenn

ACRES U.S.A. You’ve said you were interested in helping to resolve poverty in Latin America through economic growth and development. How quickly did that change after you entered the field of economics?

HERMAN DALY. That took a while to disappear. In a way, that’s both fortunate and unfortunate. That made it easier for me to get along as an economist, to be promoted and get tenure. From the time I graduated, it took maybe 10 to 12 years before I had some experience teaching in Northeast Brazil. Reading Mathus, Rachel Carson and more recently then, having studied under Nicholas Georgescu-Roegen at Vanderbilt, re-reading John Stuart Mill — all of those things, plus the whole big population question in Northeast Brazil.

ACRES U.S.A. What kinds of real-life examples did you see in Brazil that prompted you to question the emphasis on economic growth as a panacea? Continue Reading →