Herman Daly was born in 1938 in the United States. He taught economics at Louisiana State University for twenty years. From 1988 to 1994, he was Senior Economist in the Environment Department of the World Bank. In 1989, Daly and John B. Cobb developed the Index of Sustainable Economic Welfare, which they proposed as a more valid measure of socio-economic progress than gross domestic product. Daly then served as Professor at the University of Maryland School of Public Affairs.
Daly's interest in economic development, population, resources, and environment led him to author numerous articles in professional journals and anthologies, as well as numerous books, including Toward a Steady-State Economy published in 1973, Steady-State Economics: Economics of Biophysical Equilibrium and Moral Growth published in 1977, and Beyond Growth: The Economics of Sustainable Development published in 1996.
Daly delivered the Beatty Lecture on March 27, 2003, titled "Uneconomic Growth and The Illth of Nations: Defining the Optimal Scale of the Macro Economy".
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