Freakonomics Radio 429. Is Economic Growth the Wrong Goal?
4 snips
Aug 13, 2020 
Kate Raworth, a renegade economist and author of Doughnut Economics, challenges the traditional focus on GDP, arguing it's detrimental to people and the planet. Joining her is Marike van Doornik, Amsterdam’s Deputy Mayor, who talks about implementing the doughnut model in urban development. They discuss the urgent need for sustainable economic frameworks that prioritize well-being and environmental health. With Amsterdam adopting innovative practices, they highlight the balance between human needs and ecological sustainability in shaping the future.
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Flawed Economic Models
- Standard economics overlooks the planet's delicate balance, treating nature as an "environmental externality."
- It prioritizes endless growth, disregarding Earth's capacity to regenerate resources and absorb waste.
Economists' Influence on Policy
- Economists' influence on policy is seen in politicians' focus on GDP growth as the sole measure of success.
- An excessive focus on cost-benefit analysis often overlooks broader systemic effects.
Human Development Report
- The UN's Human Development Report, co-authored by Raworth, shifted focus from economic power to well-being.
- It incorporated factors like standard of living, education, and life expectancy, influencing institutions like the World Bank.
