For the Common Good: Redirecting the economy toward community, the environment, and a sustainable future. by Herman E. Daly | Goodreads
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For the Common Good: Redirecting the economy toward community, the environment, and a sustainable future.
by
Herman E. Daly,
John B. Cobb Jr.
4.18 · Rating details · 146 ratings · 13 reviews
Winner of the Grawemeyer Award for Ideas Improving World Order 1992, Named New Options Best Political Book
Economist Herman Daly and theologian John Cobb, Jr., demonstrate how conventional economics and a growth-oriented industrial economy have led us to the brink of environmental disaster, and show the possibility of a different future.
Named as one of the Top 50 Sustainability Books by University of Cambridges Programme for Sustainability Leadership and Greenleaf Publishing. (less)
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Hardcover, 482 pages
Published April 1st 1994 by Beacon Press (first published December 1st 1993)
Original Title
For the Common Good: Redirecting the economy toward community, the environment, and a sustainable future.
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Dec 22, 2010Cambridge Programme for Sustainability Leadership rated it it was amazing
Shelves: the-top-50-sustainability-books
One of Cambridge Sustainability's Top 50 Books for Sustainability, as voted for by our alumni network of over 3,000 senior leaders from around the world. To find out more, click here.
For the Common Good is a wide-ranging critique of contemporary economic policies, covering international trade, population, land use, agriculture, industry, labour, taxation and national security. Although it sets out to challenge conventional economics, it is written in an accessible style and largely avoids speaking in economic jargon and theoretical abstractions.
The authors challenge the two assumptions that support the economic theory of human nature ('homo economicus'): that human wants are insatiable; and the law-like status of the principle of dimishing marginal utility. This view of humans tends to equate gains in society as a whole with the increases in goods and services acquired by its individual members,
but it says nothing about the changes in the quality of the relationships that constitute that society. The authors therefore propose a shift from economics conceived as 'crematistics' (maximisation of short-term monetary gain) to the sort of economics Aristotle called 'oikonomia' (management of a household aimed at increasing its use value over the long run for the community).
The main argument throughout is the need to realign government and social structures towards smaller social and economic units. (less)
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Jul 27, 2011The Capital Institute rated it it was amazing
Shelves: business, capital-institute, ethics, environment, economics, better-business, real-investing, financial-reform
Daly provides a ‘blueprint’ for a decentralized economy built around small communities and makes specific proposals, including a tax on industrial polluters, worker participation in management and ownership, reduced military spending and a more self-sufficient national economy, with a lower volume of imports. Intended mainly for economists, the book essentially deconstructs neoclassical economic theory and creates a more ‘holistic’ model that pulls together the idea of the individual, the community and the natural world. Daly discusses the problems with contemporary economic thought as well as suggested policy changes that would lead to an economic society based on community and ecology.
Reviews note that Daly provides a crucial “theoretical edge to the tenets of environmental faith.” (Scott London) The book serves as a strong leader in a new way of thinking about economics that pays special tribute to the community, environment and future generations.
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Aug 14, 2008Franklin rated it did not like it
Shelves: environment
I read this as part of an environmentalist reading group started by some people in Terra, a Chicago organization. I hated this book because it's the standard kind of outline of how we can fix the economy by making it more moral. See my comments on Bill McKibben's Deep Economy: The Wealth of Communities and the Durable Future.
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Jun 07, 2019Utkarsha Singh rated it really liked it
It is funny that academicians are ready to make bizzare unreal assumptions to prove their mathematical models correct. They do not care whether these assumptions are driving the model and its predictions far away from real world situations. It is funnier to see policy makers then refer to such models to bring out policies that would govern a nation. The book points out how with advancement of technology and the market humans have alienated themselves from the bigger picture and are targeting short term individual goals trying to meet a rational (though apocalyptic) ideal.
The authors want to present a picture of a sustainable market. A market not solely guided by the rational economic thought but also by values and emotions that form an integral part of humanity.
The book brings forth the losses human socities have suffered because of our heightened interest in generating more materialistic goods than investing in a better human condition and a better environment. We may a flying car in a few years time but we surely would have lost our ability to run a mile.
There are beautiful explanations of basic market concepts and interrelations between individuals, communities and capital. The writing is lucid and clarifies the concepts well.
The book becomes a little theistic in the end and may peeve a few radical atheists. (less)
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Aug 30, 2017Laura Brose rated it it was amazing
This book is huge, because it covers darn near everything wrong with society and economy in recent history. But as the old man without a seat in an Ancient Greek amphitheater said, "you young Athenians know what is right, but it takes a Spartan to do it".
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May 01, 2019Oliver Moldenhauer rated it it was amazing
This book influenced me a lot.
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Jul 08, 2012Matt Barlow added it
Unfortunately, I had to put this one down. While I was very excited to read this book based on it's premise, the writing was just too academic for someone like myself with little understanding of economics.
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Jul 29, 2008Josh Volk rated it it was amazing
I read the first version of this. Great explanations of economics, what economist mean when they say things, and how people misinterpret. Good ideas on how to change things as well.
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Jan 10, 2015Boghall rated it liked it
An important and necessary, but not perhaps the most gripping book.
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Amazon review
Showing 1-10 of 10 reviews
July 4, 2005
I have been a fan of Professor Daly's for some time. This book has some excellent analysis and some truly great commentary. The writing is a bit dry; if you're new to Professor Daly's work, you might want to try one of his other books first, like "Beyond Growth." "For the Common Good" does have some wonderfully thought-provoking lines. Just to give you a taste: "Economics cannot do without simplifying assumptions, but the trick is to use the right assumptions at the right time." Or, with regards to relying on technological fixes for environmental problems: "It is one thing to say that knowledge will grow (no one rejects that), but it is something else to presuppose that the content of new knowledge will abolish old limits faster than it discovers new ones." Another on the same subject: "If it ain't broke, don't fix it; if you must tinker, save all the pieces; and if you don't know where you're going, slow down." On population control: "Nature's way is not always best, but in this instance it seems more responsible than our current practice of allowing new human beings to be unintended by-products of the sexual fumblings of teenagers whose natural urges have been stimulated by drugs, alcohol, TV, and ill-constructed welfare incentives." Daly's Index of Sustainable Economic Welfare deserves to be far better known than it is. The analysis of misplaced concreteness, especially as it relates to the nature of debt, is very good.
The authors sometimes come across as a little naive in this book. For example, they propose making the government the employer of last resort. I think they do not realize just how hard it is to make such programs work; they inevitably decline into a morass of dependency and corruption. The Washington DC municipal government has taken precisely this approach in the past few decades, with predictable results.
I think the authors would also do well to do some research on the failures of utopian communities; since I was raised a Mormon, I know a lot about some of these. The chapter on religion strikes me as a bit silly. They want to bring God into the building of a more humane society; this is not necessarily bad, but I tend to think that science will take us farther than God will. In my opinion, Christianity's idea that the Second Coming of Christ is not far off is a very serious barrier to giving humanity's long-term future the attention it deserves. Talking about ethics, the authors say "But to believe that God does exist makes the ethical life more authentic." Well, that's only true if God really does exist, which I doubt.
Overall, the book has some excellent points to make. If you're interested in economics and public policy, don't miss it.
The authors sometimes come across as a little naive in this book. For example, they propose making the government the employer of last resort. I think they do not realize just how hard it is to make such programs work; they inevitably decline into a morass of dependency and corruption. The Washington DC municipal government has taken precisely this approach in the past few decades, with predictable results.
I think the authors would also do well to do some research on the failures of utopian communities; since I was raised a Mormon, I know a lot about some of these. The chapter on religion strikes me as a bit silly. They want to bring God into the building of a more humane society; this is not necessarily bad, but I tend to think that science will take us farther than God will. In my opinion, Christianity's idea that the Second Coming of Christ is not far off is a very serious barrier to giving humanity's long-term future the attention it deserves. Talking about ethics, the authors say "But to believe that God does exist makes the ethical life more authentic." Well, that's only true if God really does exist, which I doubt.
Overall, the book has some excellent points to make. If you're interested in economics and public policy, don't miss it.
February 4, 2015
Certainly an unusual book, not the mainstream babbling about the mechanism but goes deeper into UNDERSTANDING of the economy as an interaction between humans, and us with Nature.
Interestingly, some ideas mentioned are from antiquity and some others from Frederick Soddy, a Nobel winner but NOT in economics. Therefore economists usually do not even hear about him (I have a PhD in the field and read about him only here).
Of course Herman Daly presents us with results of his own thinking, and it is both unexpected and useful.
Interestingly, some ideas mentioned are from antiquity and some others from Frederick Soddy, a Nobel winner but NOT in economics. Therefore economists usually do not even hear about him (I have a PhD in the field and read about him only here).
Of course Herman Daly presents us with results of his own thinking, and it is both unexpected and useful.
February 28, 2016
A truly great and indepth book on the issue of Ethics and society and what we should do in regards to the under priviledged and destitue.
December 1, 2013
Classic Daly. Refuting the notion, misappropriated from Adams, that individuals acting for individual reasons benefit society as a whole --- Daly reveals the intricate and interconnectedness of society, economy and the environment.
July 28, 2015
This is an iconic book to understand the importance of social and environmental factors in the the economic processes
August 24, 2000
Because of the large number of issues and sometimes conflicting solutions proposed, this is a difficult book to classify. Key, however, is the authors' profound refusal to subordinate the common good of the community to the god of the free market. This does not mean the elimination of markets where they have proven effective and non-destructive. It does mean keeping their operation within strict limits, so that people can regain a sense of community and a sustainable environment. Much of the book is taken up with showing the limits of market theory and practice, and in that sense should be studied by all with an interest in America's secular religion. Proposed solutions are decidedly non-ideological and largely eclectic. Both the left and the right should find points of agreement. All in all, this is an invaluable guide to many of the planet's most pressing problems and should be required reading for college undergraduates.
August 22, 2007
This is a seminal work in the field of Ecological Economics, a real primer.
Neatly organized in parallel chapters dealing, one point-of-view at a time, with some of the main consequences from the fallacy of misplaced concreteness.
I just have restrictions to his views at the chapter on Population, where he advocates for abortion and euthanasia. See, on the former I'd rather advocate sending unwanted children for adoption. As for the latter, ortothanasia (no desperate measures) is ethically right, but euthanasia is quite selfish stuff, not to be advocated for by people bent on reconstructing community. That is why I didn't grade it as 5-star.
Except for that, just another fine book by one of the finest thinkers in our time.
Neatly organized in parallel chapters dealing, one point-of-view at a time, with some of the main consequences from the fallacy of misplaced concreteness.
I just have restrictions to his views at the chapter on Population, where he advocates for abortion and euthanasia. See, on the former I'd rather advocate sending unwanted children for adoption. As for the latter, ortothanasia (no desperate measures) is ethically right, but euthanasia is quite selfish stuff, not to be advocated for by people bent on reconstructing community. That is why I didn't grade it as 5-star.
Except for that, just another fine book by one of the finest thinkers in our time.
May 12, 1999
Agrarian Localist that I am, with roots in the cultural and political Right -- Daly was refreshing and often challenging from the 'New and Improved Left. He brilliantly and repeatedly shows the 'fallacy of misplaced concreteness'-- that is the dubious use of logical abstractions which supposedly lead to good conclusions. NOT! In logic, it is similar to 'the undistributed middle'-- or in laymen's terms -- there is yet far too much we simply don't know to conclude 'this'. Those pegging him a traditional UN Internationalists look like blind Libertarians who are simply dead wrong, and didn't read carefully. Daly is a modest Decentralists/Federalists' in calling for a 'return to the Local'. His call is for a federalism with far more attention to Local and Regional markets and development than we've had in this country since Lincoln. Yet Daly still uncomfortablly allows for some heiarchialism at national and international levels. Suprisingly, he uncritically buys all the status-quo environmental hysteria as 'Fact', indeed 'wild facts' he calls them. Thus, you have a mixd book -- full of brilliant and insightful critique -- and sullied by a good bit of carried-over authoritarian leftism. David E. Rockett
