The chapter delves into the historical fixation of economics on mimicking the laws of physics, influencing economic theories and policies. It contrasts Hayek and Keynes' economic philosophies, explores concepts like the supply and demand curve, and advocates for a design-oriented economic approach.
Our guest this week is economist Kate Raworth, and in her new book, Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, 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.
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