Central Banks increasingly favor hyper Keynesianism: the quest to stimulate real growth by increasing monetary growth, first by low, then by zero, and now by negative interest rates. Why hasn’t it worked? Because real growth is constrained by real resource shortages, while hyper Keynesianism assumes unemployed resources. There is unemployed labor to be sure, but […]
Author Archives: Herman Daly
Dr. Daly came to the Maryland School of Public Affairs from the World Bank, where he was Senior Economist in the Environment Department, helping to develop policy guidelines related to sustainable development. While there, he was engaged in environmental operations work in Latin America. Before joining the World Bank, Daly was Alumni Professor of Economics at Louisiana State University. He is a co-founder and associate editor of the journal, Ecological Economics. His interest in economic development, population, resources, and environment has resulted in over a hundred articles as well as numerous books, including Steady-State Economics (1977; 1991), Valuing the Earth (1993), Beyond Growth (1996), and Ecological Economics and the Ecology of Economics (1999). He is co-author with theologian John B. Cobb, Jr. of For the Common Good (1989; 1994) which received the Grawemeyer Award for ideas for improving World Order. He is a recipient of the Honorary Right Livelihood Award (Sweden's alternative to the Nobel Prize), the Heineken Prize for Environmental Science from the Royal Netherlands Academy of Arts and Sciences and the Sophie Prize (Norway).
