"Frugality is the recognition of scarcity; efficiency is an adaptation to scarcity"

Herman E. Daly is currently Professor at the University of Maryland, School of Public Affairs. Previously, he was at The World Bank, where he was Senior Economist in the Environment Department, helping to develop policy guidelines related to sustainable development. While there, he was engaged in environmental operations work in Latin America. Before joining the World Bank, Daly was Alumni Professor of Economics at Louisiana State University. He is a co-founder and associate editor of the journal, Ecological Economics. His interest in economic development, population, resources, and environment has resulted in over a hundred articles as well as numerous books, including Steady-State Economics (1977; 1991), Valuing the Earth (1993), Beyond Growth (1996), and Ecological Economics and the Ecology of Economics (1999). He is co-author with theologian John B. Cobb, Jr. of For the Common Good (1989; 1994) which received the Grawemeyer Award for ideas for improving World Order. He is a recipient of the Honorary Right Livelihood Award (Sweden's alternative to the Nobel Prize), the Heineken Prize for Environmental Science from the Royal Netherlands Academy of Arts and Sciences and the Sophie Prize (Norway).