Herman Daly

It is a regrettable honor to introduce this essay by Herman Daly. The honor comes from the importance of Daly’s thought, which is fundamental. The overused word is apt here: Daly has supplied a new foundation for economic thought and practice. In a civilization describable as global capitalism, few intellectual contributions are—or, rather, ought to be—of more consequence. As Karl Polanyi pointed out long ago, capitalism represents a new kind society in the span 0f human history; for us, the economy a k a the market hosts the society, rather than the other way around. Daly’s work in ecological economics ...

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