Get Access Doughnut Economics: Seven Ways To Think Like A 21st-Century Economist : Raworth Kate Written And Illustrated By RaworthKate Available As Hardcover

the myths of economic growth and the implicit ideological values in economic theory and in the profession of economic experts is needed than ever.
We should give Kate Raworth the credits she deserves for writing Doughnut Economics, Her doughnut is a good The economy as structured today is seriously flawed and has grave repercussions on the human condition as ofthe world's richestnow own wealth than all the otherput together while the sustainability of our planet, due to human activity, is under unprecedented stress.
Consequently, there is an urgent need for a radical restructuring of the economy, reorienting its aims and priorities, Today's economy is divisive and degenerative by default, Tomorrow's economy must be distributive and regenerative by design, The author, Kate Raworth was eminently qualified for writing the book and in the process articulating her vision for tomorrow's economy.
An economist by training, she has worked during the last two decades in environmental and human development studies at Oxford and Cambridge Universities, Oxfam, the United Nations Development Program and the Overseas Development Institute in the villages of Zanzibar.
The book is the product of this labor and the cumulative experience she acquired, The author has an appreciation for the power of the picture, So, she depicted her vision of tomorrow's economy as having the shape of a Doughnut, The inner surface of the Doughnut represents a social foundation of well being that no one should fall below, and the outer surface, an ecological ceiling of planetary pressure that we should not go beyond.
Between the two lies a safe and just space for all, The author, in the body of the book, proposes and elaborates on seven ways to think like a twenty first century economist and at the same time for each of those seven ways, the spurious image that has occupied our minds, how it came to be so powerful, and the damaging influence it has had.
The ways she proposes are briefly described below:Change the goal of pursuing GDP growth to investing efforts in meeting the human rights of every person within the means of our life giving planetsee the big picture draw the economy anew, embedding it within society and within nature, and powered by the sun this new deviation invites new narratives: about the power of the market, the partnership of the state, the core role of the household and the creativity of the commons nurture human nature: the new self portrait reveals that we are social, interdependent, approximating, fluid in values, and dependent upon the living world get savvy with systems: manage the economy as an ever evolving complex system design to distribute: it is a recognition that there are many ways to design economics to be far distributive of the value they generate create to regenerate: this century needs economic thinking that unleashes regenerative design in order to create a circular not linear economy and to restore humans as full participants in Earth's cyclical processes of life and finally, be agnostic about growth what we need is economics that make us thrive, whether or not they grow.
The author is, of course, fully cognizant of the inherent difficulties of the exercise due to the combination of entrenched beliefs, interests, and power.
But the skeptical reader, should always remember that the present structure of the economy does not have the power of physical law because it is a human construct amenable to change albeit through vigorous and sustained effort.
I found the book presented a number of refreshing ideas which has made me reflective about how to align the Economy, Society and the Ecology.
With the population growth, shift to city living and a better understanding of the

environment impact of our current life styles, the 'externalities' mentioned in the old economic model have now become front and centre.
If you're looking to challenge your thinking, this is the right book for you, At its worst, economics is a highly mathematical undertaking that is completely useless for understanding anything about the real world.
Rather than explain inflation or international trade, you get utility functions, aggregate supply and demand curves that were supposed to wind up in some incomprehensible equilibrium, so obscure and bound up in such highly abstract assumptions that only a mathematician could understand it all and that utterly lacked any real world relevance.
For all of these reasons, I found Doughnut Economics both fascinating and useful, Raworth challenges academic "economic science" and offers a number of new notions that I hope will fundamentally re shape the field.
In addition, the book is lucidly written, which stands in stark contrast to the abstruse crap that so many economists churn out, where they twist logic into bizarre configurations and examples.
It is practical, based on common sense notions, and relatively easy to understand, Raworth offers"ways to think", First, we need to change the goal from one of unending "growth" of GDP to an equilibrium state inside the doughnut shape: in the hole, social needs are neglected outside the edge, ecological concerns are violated.
The doughnut encompasses a number of factors in dynamic balance, including social equity, work and income, global warming, resource depletion, etc.
Second, instead of a hermetically sealed engine that flows between business and households in an unending circle, which neglects the bigger picture, we need to view the economy as embedded in both an evolving society and the larger ecosystem.
Third, we must concentrate not on a single, abstract, selfish individual maximizing his/her well being in consumption of goods, but on socially adaptive communities of individuals who must work together for many other intangible values.
Fourth, we need to integrate a systems approach, replacing the artificial calculation of an abstract equilibrium state, i, e. feedback loops of factors offer a realistic image and concept of the economy than the simple assignment of an optimal overall price.
Needs change and act upon each other dynamically, there is no "Pareto optimality", Fifth, the economic system should be designed to distribute resources fairly inequality, in her view, is a failure of the system, not its inevitable outcome.
This introduces a strong, legitimate role for public policy and activist government rather than some assumption that the "market" will achieve fairness or efficiency.
Sixth, taking sustainability into account, the system can be set up to regenerate itself rather than simply use natural resources as inputs.
Seventh, we have to give up the notion that GDP growth is the most important measure of how well the economy functions.
Not only is perpetual growth a physical impossibility indeed we are reaching the limits of capitalist growth rates at the levels we knew fromto, the golden age but it diverts attention from pressing tasks.
Raworth gets into lots of technical detail, I could not do justice to her model in this description, indeed I will have to go back and re read the book a few times before I fully grasp it myself.
Whatever, this is a marvelously stimulating intellectual journey that is also of vital importance, I do have a criticism of the tone of the book, Some of it reads like a TED talk, a formula that bores me to tears, The examples given are also too brief for my taste and need to be expanded upon in much great detail.
Finally, there is a bit of zaniness in it that bothered me on occasion, For example, I would rather call it a torus than a doughnut, as I believe the associations with that are serious.
Perhaps it's nitpicking. Recommended with enthusiasm. Early on in her book, the author states that to make a change in economic theory for example, it is not enough to just point out the flaws of current status, you need to come up with a strong, alternative approach.
Well, quite disappointingly, this book goes as far as pointing out a number of issues in nowadays economic theory some of which quite obvious without then offering the above mentioned alternative solution.
I'm really passionate about sustainable development and was really hoping I would find some interesting food for thought in this book, but there's little meat on the bone, and mainly clichè for anyone who's not a complete novice to environmental and social flaws pervading the world we live in.
Sadly, a waste of money, A solid overview of how economics can be remade as a discipline that focuses on delivering a balanced, prosperous society.
On the various occasions when I took courses in economics starting almost fifty years ago, the lecturers were careful to point out the limitations of concepts like GDP.
However, the rest of the courses always put these doubts to one side and carried on as if they did not exist.
Ms Raworth provides a powerful model for thinking about economics that includes the whole system, Undoubtedly this book deserves/for its analysis, Unfortunately it does not continue so well when it comes to prescriptions, She treats us to a string of feel good anecdotes of approaches which, undoubtedly valuable and effective, are only shown to work in relatively small applications.
Further, having made the correct point about the importance of energy in driving growth she fails to understand the full potential of current developments renewables especially wind and battery storage.
I am a retired engineer with a career in a wide range of energy industries, what I see is the emerging generation of off shore wind machinesMW floating units moored in deep water on the continental shelf as a massive game changer.
With almost unlimited supplies of renewable energy available many of the constraints on the doughnut will change, For example: if you have unlimited supplies of clean energy water is not a problem, Back inMarx massively underestimated the remaining scope for technical innovation and his revolution was postponed indefinitely I rather suspect that Ms Raworth is in the same place.
Door een afvallige econoom biedt dit een Groener eerlijker en veiliger manier om over de wereldeconomie na te denken De auteur is lid van de denktank de Club van Rome en bekleedde hoge functies bij Oxfam en het VN ontwikkelingsprogrammaDoor een afvallige econoom biedt dit een Groener, eerlijker en veiliger manier om over de wereldeconomie na te denken.
 De auteur is lid van de denktank de Club van Rome en bekleedde hoge functies bij Oxfam en het VNontwikkelingsprogramma.
Door een afvallige econoom biedt dit een Groener, eerlijker en veiliger manier om over de wereldeconomie na te denken,  De auteur is lid van de denktank de Club van Rome en bekleedde hoge functies bij Oxfam en het VNontwikkelingsprogramma.
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