If economic reality is actually so complex that it can only… - Herman Daly

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If economic reality is actually so complex that it can only be described by complicated mathematical models that add epicycles to epicycles and externalities to externalities, then the reality should be simplified.

Herman Daly

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About Herman Daly

Herman Edward Daly (July 21, 1938 – October 28, 2022) was an American ecological economist and professor at the School of Public Policy of University of Maryland, College Park.

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Alternative Names: Herman E Daly • Herman Edward Daly

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Kate Raworth John Komlos Steve Keen Paul Krugman Paul Ormerod

Additional quotes by Herman Daly

Current economic growth has uncoupled itself from the world and has become irrelevant. Worse, it has become a blind guide.

Even if we can never quantify [satisfaction or happiness]... as precisely as we currently quantify GNP,... perhaps it is better to be vaguely right than precisely wrong.

Organisms cannot survive in a medium consisting of their own final outputs. Neither can economies.

If economic reality is actually so complex that it can only be described by complicated mathematical models that add epicycles to epicycles and exter… - Herman Daly

About Herman Daly

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Additional quotes by Herman Daly