Herman Daly

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Herman Edward Daly (born 1938) is an American ecological economist and professor at the School of Public Policy of University of Maryland, College Park in the United States.

Live and work[edit]

Before joining the World Bank, Daly was a Research Associate at Yale University,[1] and Alumni Professor of Economics at Louisiana State University.

Daly was Senior Economist in the Environment Department of the World Bank, where he helped to develop policy guidelines related to sustainable development. While there, he was engaged in environmental operations work in Latin America. He is closely associated with theories of a Steady state economy. He was a co-founder and associate editor of the journal, Ecological Economics.[2]

In 1989 Daly and John B. Cobb developed the Index of Sustainable Economic Welfare (ISEW), which they proposed as a more valid measure of socio-economic progress than gross domestic product.

Daly is a recipient of an Honorary Right Livelihood Award,[3] the Heineken Prize for Environmental Science from the Royal Netherlands Academy of Arts and Sciences, the 1992 University of Louisville Grawemeyer Award for Ideas Improving World Order,[4] the Sophie Prize (Norway), the Leontief Prize from the Global Development and Environment Institute and was chosen as Man of the Year 2008 by Adbusters magazine. He is widely credited with having originated the idea of uneconomic growth, though some credit this to Marilyn Waring who developed it more completely in her study of the UN System of National Accounts.[5] In 2014, Daly was the recipient of the Blue Planet Prize [6] of the Asahi Glass Foundation.

Toward a Steady-State Economy[edit]

Daly was the editor of this book, published in 1973, which he hoped would be widely adopted as supplementary reading in introductory economics courses. It is a collection of sixteen essays by specialists in various different areas, grouped under three main headings:

  1. Biophysical constraints on economic growth
  2. The social world and adjustment to a steady state
  3. Values and the steady state

Selected publications[edit]

  • Steady-State Economics (1977)
  • For the Common Good, (1989, with theologian John B. Cobb, Jr.). This received the Grawemeyer Award for ideas for improving World Order.
  • Valuing the Earth (1993, with Kenneth Townsend)
  • Beyond Growth (1996)
  • Ecological Economics and the Ecology of Economics (1999)
  • The Local Politics of Global Sustainability (2000, with Thomas Prugh and Robert Costanza)
  • Ecological Economics: Principles and Applications (2003, with Joshua Farley)
See also: Beckerman, Wilfred (August 1994). "'Sustainable Development': Is it a useful concept?". Environmental Values (White Horse Press) 3 (3): 191–209. doi:10.3197/096327194776679700. 
See also: Nicholas Georgescu-Roegen, Robert Solow and Joseph Stiglitz.


  1. ^ Daly, Herman E. (October 1978). "On thinking about energy in the future". Natural Resources Forum (Wiley) 3 (1): 19–26. doi:10.1111/j.1477-8947.1978.tb00389.x. 
  2. ^ "About". Ecological Economics. ScienceDirect. 
  3. ^ Herman Daly (USA)
  4. ^ "1992- Samuel Huntington, Herman Daly and John Cobb". 
  5. ^ Waring, M. 1988. Counting for Nothing: What Men Value and What Women are Worth. Reprinted in 1996 by Bridget Williams Books.
  6. ^ Blue Planet Prize - Laureate 2014

External links[edit]