Herman Daly Quotes
The problem with the World Bank has to do with development - the spreading of Western over-consumption worldwide.
Daly, Herman E. Beyond Growth: The Economics of Sustainable Development. Beacon Press, 1996.
Although the Premier recognizes the importance of environmental protection it is difficult for China and other developing countries to make the necessary trade off’s at the expense of slower growth which means continued poverty. Even in the United States with all its affluence, slowing economic growth for environmental reasons is politically very difficult.
She was advocating the then relatively new concept of Foreign Aid.
The International Finance Corporation (IFC), an organization supposedly devoted to financing poverty elimination had supported the building of a luxury 5-Star hotels in Ghana, Egypt and several other poor nations. The construction creates jobs as does the operation of the hotel, but critics complain that the impact on poverty is small compared to the size of the investment. The fancy hotels are too expensive for the local small businessmen and women to use in their commercial development. The elites and the AID givers and NGOs of course have better—and more expensive—accommodations.
What is also neglected very often is that America and the other developed nations exploited and destroyed much of their own environment in the process of developing yet they express concern that the lesser developed nations will do what they do.
Herman Edward Daly was an American ecological and Georgist economist and professor at the School of Public Policy of University of Maryland, College Park in the United States, best known for his time as a senior economist at the World Bank from 1988 to 1994. In 1996, he was awarded the Right Livelihood Award for "defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community."
