Who is the author of 'Doughnut Economics'?

The author of 'Doughnut Economics' is Kate Raworth.

What are the main themes in 'Doughnut Economics'?

The main themes in 'Doughnut Economics' include Social Justice Movements, Global Economics, Business and Economics, Economic Policy.

What genre is 'Doughnut Economics'?

'Doughnut Economics' is categorized as Business and Economics.

What is the main thesis of 'Doughnut Economics'?

The main thesis of 'Doughnut Economics' by Kate Raworth is to propose a new economic model that prioritizes ecological sustainability and social equity. The 'doughnut' shape represents a safe and just space for humanity, where the inner circle signifies the social foundation (ensuring basic needs are met) and the outer circle represents the ecological ceiling (the environmental limits within which humanity can operate). Raworth argues that traditional economic models focused on endless growth are inadequate and suggests redefining economic success in terms of balance between human well-being and the planet's health.

How does Kate Raworth redefine economic success in her book?

In 'Doughnut Economics', Kate Raworth redefines economic success by shifting the focus from GDP growth to a framework that balances essential human needs and ecological sustainability. She introduces the concept of the "Doughnut" which consists of two concentric circles: the inner ring represents the social foundation that ensures a decent standard of living for all, while the outer ring represents the ecological ceiling beyond which physical and biological systems can no longer safely operate. Economic success, according to Raworth, occurs when humanity operates within this "safe and just space" between the inner and outer rings, ensuring that everyone has access to life's essentials without overshooting the planet's boundaries.

What are the two boundaries that Raworth discusses in relation to the doughnut model?

In 'Doughnut Economics,' Kate Raworth discusses two boundaries in relation to the doughnut model: the social foundation and the ecological ceiling. The social foundation represents the minimum living standards necessary for each person to thrive, including basic needs such as food, water, health, and education. The ecological ceiling defines the planet's environmental limits, beyond which human activity could cause significant harm to the ecosystem and the Earth’s climate. Together, these boundaries aim to create a safe and just space for humanity.

In what ways does 'Doughnut Economics' challenge traditional economic thinking?

'Doughnut Economics' by Kate Raworth challenges traditional economic thinking in several key ways: Focus on the Doughnut Model: Instead of the traditional linear growth model, Raworth introduces the Doughnut model, which emphasizes a balance between essential human needs and planetary boundaries. The inner circle represents the social foundations (like food, health, education), while the outer circle represents ecological limits. Critique of GDP as a Measure: Raworth argues that Gross Domestic Product (GDP) is a flawed measure of progress, as it doesn't account for inequality, environmental degradation, or social well-being. Instead, she advocates for metrics that reflect true prosperity and sustainability. Emphasis on Redistribution: The book challenges the traditional idea of wealth creation through unfettered capitalism, instead advocating for policies that ensure wealth is equitably distributed, addressing not only economic growth but also social equity. Interconnectedness of Systems: Raworth emphasizes the interconnectedness of economic, social, and environmental systems, moving away from a narrowly focused economic model. She underscores the importance of considering ecological impacts in economic decisions. Post-Growth Perspective: The book encourages a shift from the pursuit of endless growth to sustainability and wellbeing, acknowledging that infinite growth is not feasible on a planet with finite resources. Incorporation of Complexity: Raworth draws on insights from complexity theory and systems thinking, advocating for adaptive, flexible economic models that can respond to changing conditions rather than rigid frameworks. Overall, 'Doughnut Economics' promotes a holistic and inclusive approach to economics that prioritizes sustainability and social equity over traditional growth metrics.

What practical solutions does Raworth suggest for creating a more sustainable economy?

In "Doughnut Economics," Kate Raworth suggests several practical solutions for creating a more sustainable economy, including: Rethinking Economic Growth: She advocates for moving away from the focus on GDP as a measure of progress and instead measures success in terms of welfare, equity, and sustainability. The Doughnut Model: Raworth introduces the Doughnut model, which emphasizes staying within the ecological ceiling (the planet's limits) while ensuring social foundations are met, creating a safe and just space for humanity. Redistributing Wealth: She encourages policies that reduce inequality and promote equitable resource distribution to ensure everyone has access to the essentials like food, water, and education. Circular Economy: Promoting a circular economy where waste is minimized, and resources are reused and recycled rather than disposed of can help mitigate environmental harm. Inclusive Decision-Making: Encouraging participatory decision-making processes that involve a broader range of stakeholders, especially marginalized groups, to create more equitable outcomes. Investing in Social and Ecological Capital: Prioritizing investments in public goods—like education, healthcare, and renewable energy—aimed at enhancing human well-being and environmental health. New Business Models: Advocating for businesses that prioritize purpose over profit, such as cooperatives, social enterprises, and companies that integrate social and environmental metrics into their business models. These solutions aim to create an economy that works for people and the planet, aligning economic practices with sustainable development goals.

Doughnut Economics Book Summary

In 'Doughnut Economics', Kate Raworth reimagines the traditional economic model, proposing a new framework that balances human well-being and the planet's needs. She introduces the 'doughnut' as a visual metaphor that defines a safe and just space for humanity, where we thrive without exceeding ecological limits. Raworth critiques the relentless pursuit of GDP growth and presents innovative solutions that prioritize sustainability and equity. Through compelling storytelling and rich examples, she challenges readers to rethink how economies can serve people and the Earth. This thought-provoking book invites all to envision a thriving future that respects both social foundations and planetary boundaries.

By Kate Raworth

Published: 2018

"'Doughnut Economics invites us to reimagine our economic model, placing the well-being of people and the planet at its center, urging us to thrive within the ecological limits of our shared home.'"

Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas—from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science—to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers.

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