More is not always better

For decades in both my personal and professional investing I have favored areas with lower negative environmental impact.  Not only have I been able to achieve good returns, but this style of investing supports my personal values.  Herman Daly, one of the first economists to discuss the need for sustainable development, recently passed away.  The NY Times has an obituary that is worth the quick read.  Thankfully, while not universally accepted, his line of professional inquiry is no longer broadly dismissed as economic quackery.  I remained dumfounded that the well-established economic concept of “the tragedy of the commons” is not applied to ecosystems as a foundation of economic policy.