Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist (Random House, 2017).ĭaly, H. Steady-State Economics: The Economics of Biophysical Equilibrium and Moral Growth (W. The Entropy Law and the Economic Process (Harvard University Press, 1971).ĭaly, H. Haberl, H., Fischer-Kowalski, M., Krausmann, F., Weisz, H. Herman Daly’s Economics for a Full World: His Life and Ideas (Routledge, 2022).ĭaly, H. In a highly cited article, he proposed three (now famous) rules for sustainable development: (1) exploit renewable resources no faster than they can be regenerated (2) emit wastes no faster than they can be assimilated and (3) deplete non-renewable resources no faster than renewable substitutes can be developed to replace them 11. Herman argued in favour of strong sustainability, contending that the different forms of capital are complementary. Advocates of strong sustainability claim that substitution possibilities are limited and that sustainability can only be achieved if critical stocks of each form of capital are maintained. Advocates of weak sustainability claim that different forms of capital (in particular natural capital and built capital) are substitutable for each other and that sustainability can be achieved if the value of the total stock of capital does not decrease over time. Herman’s work was also foundational to one of the greatest debates in sustainability: weak sustainability versus strong sustainability.

For the common good herman daly