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Rethinking economics movement - Kate Raworth

22/12/2020

2 Comments

 
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Humanity’s 21st century challenge is to meet the needs of all within the means of the planet. In other words, to ensure that no one falls short on life’s essentials (from food and housing to healthcare and political voice), while ensuring that collectively we do not overshoot our pressure on Earth’life-supporting systems, on which we fundamentally depend – such as a stable climate, fertile soils, and a protective ozone layer.

The idea and model of Doughnut Economics
promoted and popularised by Kate Raworth is a scientifically-founded metaphor to help us think about how we can live sustainably on the planet (see figure).The environmental or ecological ceiling consists of nine planetary boundaries, as set out by Rockstrom et al, beyond which lie unacceptable environmental degradation and potential tipping points in Earth systems - the systems all life depends on. The twelve dimensions of the social foundation are derived from internationally agreed minimum social standards, as identified by the world’s governments in the UN's Sustainable Development Goals in 2015. Between social and planetary boundaries lies an environmentally safe and socially just space in which humanity can thrive.

Doughnut Economics Synthesis 

The inner ring of the doughnut represents the basic needs of flourishing human society - which we often fall short of. The outer ring represents the limits of planetary resource use - which we often overshoot. The gap in-between the rings is the zone where we should be aiming for - what Raworth calls "the safe and just space for humanity", powered by a "regenerative and distributive economy".  In all Raworth's graphs this looks as if it may be a decently-sized zone to occupy. The trick of it is understanding that to meet all the factors of "social foundation" does not mean intensifying consumer society to the max. Beyond a certain level of income and consumption, our sense of satisfaction flatlines out, no matter how much more we earn and buy. If we grasp that, and answer our social needs in a non-conventional way, we can easily live "inside the ring of the doughnut". 

The inner ring of the doughnut represents the basic needs of flourishing human society - which we often fall short of. The outer ring represents the limits of planetary resource use - which we often overshoot. The gap in-between the rings is the zone where we should be aiming for - what Raworth calls "the safe and just space for humanity", powered by a "regenerative and distributive economy". 

In all Raworth's graphs this looks as if it may be a decently-sized zone to occupy. The trick of it is understanding that to meet all the factors of "social foundation" does not mean intensifying consumer society to the max. Beyond a certain level of income and consumption, our sense of satisfaction flatlines out, no matter how much more we earn and buy. If we grasp that, and answer our social needs in a non-conventional way, we can easily live "inside the ring of the doughnut". 

Raworth presents us with an inspiring target. But a study from the authoritative science magazine Nature (which is based on an impressive project from Leeds University) indicates just how far away from managing to live within the doughnut the vast majority of countries currently are. (Assuming, that is, their present ways of using resources don't improve). 

I really like this powerful advocacy for changing our view of growth economics.  "If we are going to do this we need to change the conversations in our parliaments about what the economy is and what its for and how it works and what success is."

Sources

Rockström, J., W. Steffen, K. Noone, Å. Persson, F. S. Chapin, III, E. Lambin, T. M. Lenton, M. Scheffer, C. Folke, H. Schellnhuber, B. Nykvist, C. A. De Wit, T. Hughes, S. van der Leeuw, H. Rodhe, S. Sörlin, P. K. Snyder, R. Costanza, U. Svedin, M. Falkenmark, L. Karlberg, R. W. Corell, V. J. Fabry, J. Hansen, B. Walker, D. Liverman, K. Richardson, P. Crutzen, and J. Foley. 2009. Planetary boundaries:exploring the safe operating space for humanity. Ecology and Society 14(2): 32. [online] URL: http://www.ecologyandsociety.org/vol14/iss2/art32/

The Alternative UK https://www.thealternative.org.uk/dailyalternative/2018/3/7/living-in-the-doughnut-slm59




2 Comments
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4/2/2021 03:15:06 pm

Thanks for starting this wonderful forum and I hope there should be the number of people who are having amazing suggestion. Through the sharing information various people able to get chance to share thoughts and ideas for the batter transformation of community.

Reply
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29/8/2022 06:28:36 pm

This is a really interesting article about the rethinking economics movement and how it is gaining traction globally. I think it is so important to have different voices in the economics field, and this article does a great job of highlighting some of the leaders in this movement.

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