Mainstream economics views endless GDP growth as a must, but nothing in nature grows forever, and the economic attempt to buck that trend is raising tough questions in high-income but low-growth countries. However, while her metaphors are flowery and appealing, they do not offer any real policy advice about how to tackle the complicated issues she highlights. Draw that goal on the page and odd though it sounds it comes out looking like a doughnut. Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist to provide a compass to help policymakers, activists, business leaders and citizens alike to steer a wise course through the twenty-first century. Raworth goes all the way back to Ancient Greece to draw on Aristotles distinction between the terms economics the practice of household management and chrematistics the art of acquiring wealth to criticise modern economics as being all about the latter. Find this book: One day economic historians might examine. Her book, too, demands change. The overall target should be to remain within the doughnut to ensure that we neither fall into conditions of social inequality and suffer shortfalls, such as in water and food, nor allow growth to overshoot into threatening environmental collapse. Doing so will give usall ten billion of us to comea far greater chance of thriving together. Centre for Humans and Nature article on what Doughnut Economics implies for economic growth.
Kate Raworth Doughnut Economics
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The doughnut has social foundation and human well-being in the middle, and is itself the safe and just space for humanity and for a regenerative and distributive economy, surrounded on the outer edge by the ecological ceiling of critical planetary degradation. That seemed like a weak argument to me, not least because Daniel Kahneman, who discovered many of these, won the Nobel Prize in Economics. The 21st century calls for a far more ambitious and global economic goal: meeting the needs of all within the means of the planet. . Economic theory has long portrayed a clean environment as a luxury good, affordable only for the well-offa view that says that pollution has to increase before it can decline, and (guess what growth will eventually clean. Raworth criticises economists and politicians for debating economic efficiency, productivity, and growth while hesitating to speak of justice, fairness, and rights, without providing tangible policy recommendations. Raworths in-depth summary of climate change is very well argued and would be useful for challenging climate change denial: in this sense, the book is more about sustainable development than economics. But extreme inequality, as it turns out, is not an economic law or necessity: it is a design failure. Kate Raworth pursued an undergraduate degree in economics in order to set herself on a career path in an organisation such as Oxfam or Greenpeace, campaigning to end poverty and environmental destruction. I am convinced that these seven ways to think like a 21st-century economist are fundamental culture Beat of Hip - Hop to the new economic mindset this century demands. While the book holds multidisciplinary promise and Raworth draws upon appealing and evocative metaphors and examples to convey economic concepts in accessible terms, Maria Zhivitskaya remains unconvinced of the doughnuts transformative potential. Guardian blog presenting the doughnut in the context of the UNs Rio20 conference.
The Economics is in Ways Like the Air