Economic theories

Herman Daly had a flair for stating the obvious. When an economy creates more costs than benefits, he called it “uneconomic growth.” But you won’t find that conclusion in economics textbooks. Even suggesting that economic growth could cost more than it’s worth can be seen as economic heresy. The renegade economist, known as the father of ecological economics and a leading architect of sustainable development, died on Oct. 28, 2022, at the age of 84. He spent his career questioning an economics disconnected from an environmental footing and moral compass. In an age of climate chaos and economic crisis, his ideas that inspired a movement to live within our means are increasingly essential. The seeds of an ecological economist Herman Daly grew up in Beaumont, Texas, ground zero of the early 20th century oil boom. He witnessed the unprecedented growth and prosperity of the “gusher age” set against the poverty and deprivation that lingered...