A healthy economy should be designed to thrive, not grow.
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 Its outdated theories have permitted a world in which extreme poverty persists while the wealth of the super-rich grows year after year.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 (aka the doughnut).
DOUGHNUT ECONOMICS, KATE RAWORTH
En route, she deconstructs the character of the 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.
While we highly recommend reading Kate Raworth’s book, we understand time is our most valuable resource. On Youtube, you can find Kate’s TED Talk too which is nothing but a perfect summary of the ideas behind her book and new model.