The main epiphany for Raworth is the realization that the economy has both a biophysical ceiling and an ethico-social floor, and that the Keynesian-neoclassical growth synthesis tends to violate both of these limits.

“When I worked at the World Bank,” Daly writes, “I often heard the statement, ‘There is no conflict between economics and ecology. I still hear that a lot today. Is it true? Is it possible?”

Economic growth should stop when the marginal cost of economic growth begins to exceed its marginal benefit. Beyond that point, further growth brings about dis-economy, or growth-induced problems, which do more harm than good.