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Doughnut economics : seven ways to think like a 21st century economist / Kate Raworth.

by Raworth, Kate.

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Chelsea Green Publishing, 2017.

Economics -- History.

9781603586740 (hc.)

309 pages : illustrations ; 23 cm.

Includes bibliographical references (pages 259-296) and index.

Who wants to be an economist? -- Change the goal: from GDP to the doughnut -- See the big picture: from self-contained market to embedded economy -- Nurture human nature: from rational economic man to social adaptable humans -- Get savvy with systems: from mechanical equilibrium to dynamic complexity -- Design to distribute: from "growth will even it up again" to distributive by design -- Create to regenerate: from "growth will clean it up again" to regenerative by design -- Be agnostic about growth: from growth addicted to growth agnostic -- We are all economists now.

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 Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike.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. 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? Kate Raworth is a senior visiting research associate and advisory board member at Oxford University's Environmental Change Institute.

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