last updated 25 Aug 2020
Based on the 2012 book by Kate Raworth, Seven Ways to Think Like a 21st-Century Economist.
Based on the premis that Economic growth doesn't signify wellbeing.
Instead of growth at all costs, a new economic model allows us to thrive while saving the planet.
The diagram was developed by Oxford economist Kate Raworth in the Oxfam paper A Safe and Just Space for Humanity and elaborated upon in her book.
Simon Kuznets, who standardised the measurement of growth, warned: "The welfare of a nation can scarcely be inferred from a measure of national income."
On the podcast Is Economic Growth the Wrong Goal? | Freakonomics Raworty said,
"We’ve seen the emergence in the last couple of years of a small group of governments actually saying we’re never going to be the country with the biggest or the fastest G.D.P. growth. So, let’s go and do something more interesting. And they’re called the Wellbeing Governments Alliance. You’ve got New Zealand, Scotland, Iceland starting to do something more interesting. I think that is very powerful and fascinating. And they just all happen to have women as prime ministers. "
Links:
Doughnut (economic model) - Wikipedia
Finally, a breakthrough alternative to growth economics – the doughnut |
George Monbiot - The Guardian
Wellbeing worldbeaters: New Zealand, Scotland and Iceland - Institute of Welsh Affairs
Is Economic Growth the Wrong Goal? | Freakonomics
last updated 25 Aug 2020
Politics