

Archive: Doughnut Economics, with Kate Raworth
14 snips May 5, 2024
Kate Raworth, an acclaimed economist from Oxford University and author of 'Donut Economics', presents a fresh framework for sustainable growth. She discusses how traditional economic education often fails to address ecological and societal needs. Raworth emphasizes the balance between fulfilling human requirements and respecting planetary limits. She advocates for innovative economic models that incorporate altruism and systems thinking, aiming for a transformative approach that fosters equity and environmental sustainability.
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Donut's Unexpected Success
- Kate Raworth's "Donut Economics" paper gained unexpected traction after a presentation at the RSA.
- People were drawn to the visual representation of the donut, sparking new conversations.
Power of Visual Framing
- Visual framing in economics, like the circular flow diagram, silently shapes our worldview.
- Raworth emphasizes the need to "paint over" these outdated images with new, insightful ones.
The Circular Flow Diagram
- Paul Samuelson's circular flow diagram, designed for engineers, became the standard economic model.
- This model depicts the economy as self-contained, ignoring its dependence on the environment.