Doughnut Economics: Paradigm Shift for 21st Century

“We are the first generation to properly understand the damage we have been doing to our planetary household, and probably the last generation with the chance to do something transformative about it. And we know full well, as an international community, that we have the technology, know how and financial means to end extreme poverty in all its forms should we collectively choose to make that happen.”



“The twenty first century task is clear: to create economics that create human prosperity in a flourishing web of life so that we can thrive in balance in the doughnuts safe and just space. It starts with recognising that every economy – local or global – is embedded within society and within the living world. It also means recognising that the families and communities, all that we share in common such as the natural world, the private sector and the state can all be effective means of providing for our many needs and wants, and that they tend to work best when they work together. By deepening our understanding of human nature we can create institutions and incentives that reinforce social reciprocity and altruistic values, rather than undermine them. Once we accept the economies inherent complexity we can shape its ever evolving dynamics through smart stewardship. That opens up the possibility of turning today’s divisive and degenerative economies into ones that are distributive and regenerative by design. And it invites us to become indifferent about growth, creating economies that enable us to thrive, whether or not they are growing.”

Kate Raworth