by I debated whether to include doughnut economics from Kate Raworth as one Horizon 3 images of After Capitalism. A recent scan hit persuaded me to include it: “In April 202
0, during the first wave of COVID-19, Amsterdam’s city government announced it would recover from the crisis, and avoid future ones, by embracing the theory of “doughnut economics” laid out by British economist Kate Raworth in a 2017 book.”* Well, that’s certainly compelling.
The story behind Doughnut Economics is a compelling graphic and a Ted Talk with almost four million views that turned into a book, and now apparently, is turning into action in Amsterdam.
So, the doughnut. A social foundation of well-being that no one should fall below and an ecological ceiling of planetary pressure that we should not go beyond. She set out to reframe economics in terms of goals – what should the economy do – rather than its focus on explaining how it works. The doughnut suggests two primary goals. It is in essence it is a pair of concentric rings. Below the inner ring—the social foundation—lie critical human deprivations such as hunger and illiteracy. Beyond the outer ring—the ecological ceiling—lies critical planetary degradation such as climate change and biodiversity loss. Between those two rings is the Doughnut itself, the space in which we can meet the needs of all within the means of the planet.
The book basically elaborates on 7 principle for a new economy based upon the principles the doughnut graphic. Its s a bit of a grab-bag of interesting concepts that didn’t really work as image, but the explanation is written in a simple and clear way that is likely to gain some popular appeal. A little while back, we talked about sexy foresight: “I think we need as much sexy as possible — and no more. Quite simply we need to bring more people into the fold and we could use use a little sex appeal – we can “coach ‘em up” later.” Maybe this is sexy economics – getting important ideas widely circulated, and we can “coach ‘em up” on the implementation later? – Andy Hines
*Ciara Nugent,” Amsterdam Is Embracing a Radical New Economic Theory to Help Save the Environment. Could It Also Replace Capitalism?” Time, January 22, 2021.
[…] savvy position is to either dodge the question or suggest slowing. Raworth in her popular Doughnut Economics work takes the politically astute position of “be agnostic about growth” as one of her seven […]