Herman Daly - Modernizing Henry George

Daly: Economists have traditionally considered nature to be infinite relative to the economy, and therefore not scarce, and therefore properly priced at zero. But the biosphere is now scarce, and becoming more so every day as a result of growth of its large and dependent subsystem, the macro-economy. As the macro-economy expands into the ecosystem it displaces what was there before, namely habitat of other species (and of indigenous and poor members of our own species).

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Erich: This is the philosophy which underlies green economics - fair and frugal, ending poverty and preserving nature.