Wednesday, January 3, 2018

Book Review: Doughnut Economics

In Doughnut Economics (2017), Kate Raworth explores limitations of modern economics theories. (A prominent female academic!)


Merging social boundaries into the planetary boundaries structure, she introduces the Doughnut for social and and planetary boundaries for development. This video, by Oxfam International, summarises her key ideas. Here's the full paper, published in 2012.


In the 2017 update, social boundaries have 12 dimensions, derived from internationally agreed minimum standards for human wellbeing, as established in 2015 by the Sustainable Development Goals. They are jobs, education, food, networks, gender equality, social equity, political voice, peace and justice, and access to health services, energy, water, and housing. Together with the 9 PBs, they encompass human well-being, and promote inclusive and sustainable economic development.

It also quantifies human transgression on these boundaries. Just like overshooting PBs concern ecologists, shortfalls under the social foundation concern social development.

(Source: The Lancet)

The Doughnut answers to the criticism that PBs only focus on biophysical aspects of resilience. It provides the social dimension of what a safe space for humanity means.

This is another instance where, instead of criticising the PBs for oversimplification, or disagreeing with the actual boundaries or the extent of human transgression, researchers have used the framework constructively by tying in other important aspects of sustainable development.

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