The Investment Professional – Moving Toward a Steady-State Economy

October 9, 2009 • Daily Email Recap

Thanks to Steve Kurtz for this article from the New York Society of Security Analysts. Steve points out, the article does not mention one growth issue, namely, population.

When he resigned his post as a senior economist with the World Bank in January 1994, Herman Daly delivered a farewell speech to his colleagues in the style of the Dutch uncle. Prescribing “a few remedies for the Bank’s middle-aged infirmities,” he spoke of the bank’s “unrealistic vision of development as the generalization of northern overconsumption to the rapidly multiplying masses of the south.” He warned that the depletion of natural capital could no longer be left out of the economic equation. It was time, he said, to assign a monetary value to the negative environmental impacts of throughput and to factor them in as opportunity costs of production.

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Current World Population


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