Dr Herman Daly - Steady State Economics

Economic Growth has two meanings. We and have both economic growth and uneconomic growth. We should try to separate costs and benefits. Dr Herman Daly argues for a more sensible way of doing things.

Growth v Development Dr Herman Daly compares a snowball with, human development, and the planet earth.

The Earth as a Steady State System Dr Herman Daly argues that the economy cannot become a larger and larger part of the whole earth without itself becoming a steady state system. But the laws of marginal costs and marginal utility will bring us to a steady state long before the economy grows that big.

Trade The theory of comparative cost. Gains from specialisation.

The World Bank The principles of the World Bank and the International Monetary Fund. It was a model for world cooperation based on Nation States. A federation of states.

Making Economic Choices How do we decide what we need to do?

We Make the World by the Questions We Ask? What sort of questions are we asking about climate change. Dr Herman Daly suggests that we are asking the wrong questions. We never hear, "What is it that keeps us emmitting ever more waste into the atmosphere?" We keep on hearing "How can we maintain rates of economic growth?"