Up@dawn 2.0

Wednesday, April 8, 2020

Donut economics

Amsterdam to embrace 'doughnut' model to mend post-coronavirus economy
Dutch officials and British economist to use guide to help city thrive in balance with planet

A doughnut cooked up in Oxford will guide Amsterdam out of the economic mess left by the coronavirus pandemic.

While straining to keep citizens safe in the Dutch capital, municipality officials and the British economist Kate Raworth from Oxford University’s Environmental Change Institute have also been plotting how the city will rebuild in a post-Covid-19 world.

The conclusion? Out with the global attachment to economic growth and laws of supply and demand, and in with the so-called doughnut model devised by Raworth as a guide to what it means for countries, cities and people to thrive in balance with the planet.

Raworth’s 2017 bestselling book, Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist, has graced the bedside table of people ranging from the former Brexit secretary David Davis to the Guardian columnist George Monbiot, who described it as a “breakthrough alternative to growth economics”.

The inner ring of her donut sets out the minimum we need to lead a good life, derived from the UN’s sustainable development goals and agreed by world leaders of every political stripe. It ranges from food and clean water to a certain level of housing, sanitation, energy, education, healthcare, gender equality, income and political voice. Anyone not attaining such minimum standards is living in the doughnut’s hole.

The outer ring of the doughnut, where the sprinkles go, represents the ecological ceiling drawn up by earth-system scientists. It highlights the boundaries across which human kind should not go to avoid damaging the climate, soils, oceans, the ozone layer, freshwater and abundant biodiversity... (continues)

Thanks, Ed.

1 comment:

  1. This was an interesting read. I am hopeful that Mrs. Raworth's will thrive and do what the structure she has laid out plans. I worry over how the public will take it though. Im sure there are many people who have investments in those businesses that are driving up their emissions and while post-pandemic might be the best time to implement a new structure, with the stress on people already I wonder if there will be backlash. I look forward to seeing how it all goes through though and hope for the best for Amsterdam. Hopefully this new model will give them all the support the hope for.

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