Economists are good at making specious arguments in favor of infinite growth. Herman Daly is good at debunking them.
It is not for nothing that our system is called “capitalism” rather than “natural resource-ism.”
Herman Daly explains Frederick Soddy’s far-reaching economic insight, and he comes up with a doozy of a conclusion.
Good and bads, wealth and illth — economic growth produces them all. But how big are the bads and how damaging is the illth?
Herman Daly wonders how the World Bank got in the business of increasing the debt of poor countries.
You can always count on Herman Daly to ask the critical questions: “How did this nonsense come into economics?”