A fascinating book that explores the economy as a system of many factors, offering up a new way of measuring success as we face multiple global challenges.
How do we measure the state of the economy - easy - GDP%. A single number - 1.5%, 2.0% 3.0% - and we immediately have an understanding of whether things are good, bad, or changing. Or do we? What is growth? What does it really mean? And is it really right for the 21st century?
How do we measure the state of the economy - easy - GDP%. A single number - 1.5%, 2.0% 3.0% - and we immediately have an understanding of whether things are good, bad, or changing. Or do we? What is growth? What does it really mean? And is it really right for the 21st century?
In Doughnut Economics by Kate Raworth, Raworth asks these questions and begins to formulate a way to pull together the keys issues of the 21st century, and builds an economic framework around: resources, climate, pollution, as well as the social foundations for health, wealth and well being.
It highlights how the economic models of the early/mid 20th Century may have been useful then, when it seemed like ‘growth’ would continue forever with infinite resources available and the earth could service anything, but we need to look differently now. It’s a ‘Whole System’ approach that ensures we balance the system, and consider all aspects of modern life.
It makes you wonder how we survived with measuring such a complex system with just one percentage figure….
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