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According to the newspaper "Washington Post"the professor and eminent expert in the affairs of EconomyHerman Daly, believes that economic growth cannot continue permanently, and indefinitely, and that the continuation of growth does not mean that people’s lives are going for the better, and their well-being increases.
Professor and researcher in economics and public policy at the University of Maryland, says thatfor economic growth It affects the environment and its harms become more than its benefits, while the earth is witnessing an increase in costly disasters, both in terms of human and material.
After the American academic spent fifty years studying economic conditions, he came up with a theory that defends "stable economy" who departs from greed Destruction of the environment in order to achieve growth, as a matter of realizing the limited nature of the earth’s resources that are depleted and do not return again.
Daly makes it clear that the economy, like anything else on the planet, has its limits, asserting that people can continue to live as usual, without the economy necessarily growing.
The researcher stresses that those who associate stunted growth with turmoil and slipping into violence present a bleak vision and do not realize the human capabilities and ability to adapt.
And Dali continues, he does not object to the increase in people’s wealth "It is even better to be rich, but can we say that growth in its current form leads to increased wealth? Or does it make expenses more than profits?
The researcher goes on to say that economists who adopt a traditional theory do not have an answer to this question, because they do not give any weight to the cost aspect, i.e. the cost of economic growth, they focus only on the number of gross domestic product".
growth and development
Dali points out that economic growth does not necessarily mean development, and accordingly, the size of the existing wealth is not the only and most prominent determinant of the quality of life for people, then he gave an example by the computer, saying that it was larger in the past despite its limited capabilities, and then became agile in our day While he can accomplish complex tasks and matters "Accordingly, the lesson is not quantity, but quality.
And he added that when we measure deaths and injuries caused by traffic accidents, pollution, fires and other disasters in a society that is achieving steady economic growth, we may find a different picture of what we have in mind about well-being.
The researcher cautions that his theory of growth applies to a large extent to the developed countries, while the developing countries still need to achieve some necessary material things, and therefore the rich side of the world is called to nurture an appropriate context so that the developing countries prosper.
The American expert stresses that what is required is for the developed countries to stop draining the available resources for trivial things, stressing that the disaster does not happen without the growth of the economy, then he likened the matter to the difference between the plane and the helicopter, as the commercial plane crashes if it does not move forward, while the The helicopter may still be at the same point, and eventually, the two vehicles will travel together.
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According to the “Washington Post” newspaper, the distinguished professor and expert on EconomyHerman Daly, believes that economic growth cannot continue permanently, and indefinitely, and that the continuation of growth does not mean that people’s lives are going for the better, and their well-being increases.
Professor and researcher in economics and public policy at the University of Maryland, says thatfor economic growth It affects the environment and its harms become more than its benefits, while the earth is witnessing an increase in costly disasters, both in terms of human and material.
After the American academic spent fifty years studying economic conditions, he came up with a theory that defends a “stable economy” that departs from the nature of greed Destruction of the environment in order to achieve growth, as a matter of realizing the limited nature of the earth’s resources that are depleted and do not return again.
Daly makes it clear that the economy, like anything else on the planet, has its limits, asserting that people can continue to live as usual, without the economy necessarily growing.
The researcher stresses that those who associate stunted growth with turmoil and slipping into violence present a bleak vision and do not realize the human capabilities and ability to adapt.
Daly continues that he is not against the increase in people’s wealth, “Indeed, it is better to be rich, but can we say that growth in its current form leads to an increase in wealth? Or does it make expenditures more than profits?”
The researcher goes on to say that economists who adopt a traditional theory do not have an answer to this question, because they do not give any weight to the cost aspect, i.e. the cost of economic growth, they focus only on the GDP figure.
growth and development
Dali points out that economic growth does not necessarily mean development, and accordingly, the size of the existing wealth is not the only and most prominent determinant of the quality of life for people, then he gave an example by the computer, saying that it was larger in the past despite its limited capabilities, and then became agile in our day While he can accomplish complex tasks and matters, “therefore, the important thing is not quantity, but quality.
And he added that when we measure deaths and injuries caused by traffic accidents, pollution, fires and other disasters in a society that is achieving steady economic growth, we may find a different picture of what we have in mind about well-being.
The researcher cautions that his theory of growth applies to a large extent to the developed countries, while the developing countries still need to achieve some necessary material things, and therefore the rich side of the world is called to nurture an appropriate context so that the developing countries prosper.
The American expert stresses that what is required is for the developed countries to stop draining the available resources for trivial things, stressing that the disaster does not happen without the growth of the economy, then he likened the matter to the difference between the plane and the helicopter, as the commercial plane crashes if it does not move forward, while the The helicopter may still be at the same point, and eventually, the two vehicles will travel together.