Doughnut Economics
Seven Ways to Think Like a 21st-Century Economist
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Economics is broken. It has failed to predict, let alone prevent, financial crises that have shaken the foundations of our societies. Its outdated theories have permitted a world in which extreme poverty persists while the wealth of the super-rich grows year on year. And its blind spots have led to policies that are degrading the living world on a scale that threatens all of our futures. Can it be fixed? In Doughnut Economics, Oxford academic Kate Raworth identifies seven critical ways in which mainstream economics has led us astray, and sets out a roadmap for bringing humanity into a sweet spot that meets the needs of all within the means of the planet. En route, she reconstructs the character of 'rational economic man' and explains what really makes us tick. She reveals how an obsession with equilibrium has left economists helpless when facing the boom and bust of the real-world economy. She highlights the dangers of ignoring the role of energy and nature's resources -- and the far-reaching implications for economic growth when we take them into account. And in the process, she creates a new, cutting-edge economic model that is fit for the 21st century -- one in which a doughnut-shaped compass points the way to human progress. Ambitious, radical and rigorously argued, Doughnut Economics promises to reframe and redraw the future of economics for a new generation. -- Back cover.
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Our economy is stuck on models and graphs that were created ages ago, when straightforward capitalism and endless growth were the only goal we could imagine. But now we know more, we know that excessive growth depletes and destroys our planet´s natural resources, and we know that countries don´t need to experience extreme inequalities to climb towards success. Raworth understands the power these outdated models still have on today´s world of finance and politics, and proposes new models instead that are guidelines on how to rethink, rebuild and escape the social and environmental traps we have landed in. Raworth draws on [a:Donella H. Meadows 307638 Donella H. Meadows https://images.gr-assets.com/authors/1592011479p2/307638.jpg]´s system thinking and suggests we should simply reset the goals instead of tweaking the parameters of our economy. GDP is an outdated model of measuring the success of a nation. We need to take human, cultural and environemtal values into account as well. The book ends on a fascinating and divisive debate: Is green growth possible or do we need degrowth in order to stabilize our world, to build an economy with regenerative and distributive principles. What would a society on a growth-plateau look like? Even if we measure growth with non-monetary values, would humanity be satisfied without a constant striving to go higher, achieve more?[a:Mazzucato Mariana 19431854 Mazzucato Mariana https://s.gr-assets.com/assets/nophoto/user/u_50x66-632230dc9882b4352d753eedf9396530.png] is also frequently quoted, and if I had a vote I´d make these women redesign the global economy.
