Kate Raworth says a healthy economy should be designed to thrive, not grow. “It's time to choose a higher ambition to meet the needs of all people within the means of this living planet so that we and the rest of nature can thrive.”
She is an Oxford economist and author of Doughnut Economics who is passionate about making economics fit for the 21st century. In a compelling, eye-opening TED Talk, she explains how a sustainable, universally beneficial economy would look like a doughnut and how we can move countries out of the hole -- where people are falling short on life's essentials -- and create regenerative, distributive economies that work within the planet's ecological limits.
Click Kate Raworth's TED Talk, https://www.ted.com/talks/kate_raworth_a_healthy_economy_should_be_designed_to_thrive_not_grow/transcript?utm_source=The+Big+Idea%3A+21+Days+of+Ideas+Into+Action&utm_campaign=cc829e604c-EMAIL_CAMPAIGN_2018_12_10_06_06_COPY_01&utm_medium=email&utm_term=0_872ccb770c-cc829e604c-304243113#t-413589.
In it she says “. . . here we are, flying into the sunset of mass consumerism, with economies that have come to expect, demand and depend upon unending growth, because we're financially, politically and socially addicted to it. And the economy has become incredibly degenerative, rapidly destabilizing this delicately balanced planet on which all of our lives depend. . .
“So this double-sided challenge to meet the needs of all within the means of the planet . . . invites a new shape of progress, no longer this ever-rising line of growth, but a sweet spot for humanity, thriving in dynamic balance between the foundation and the ceiling.
“. . . 20th century economics assured us that if growth creates inequality, don't try to redistribute, because more growth will even things up again. If growth creates pollution, don't try to regulate, because more growth will clean things up again. Except, it turns out, it doesn't, and it won't.
“. . . we need to . . . create economies that work with and within the cycles of the living world, so that resources are never used up but used again and again, economies that run on sunlight, where waste from one process is food for the next. And this kind of regenerative design is popping up everywhere.
“But as well as being regenerative by design, our economies must be distributive by design, and we've got unprecedented opportunities for making that happen.
“And if the mere idea of boundaries makes you feel, well, bounded, think again. Because the world's most ingenious people turn boundaries into the source of their creativity. . . it’s boundaries that unleash our potential. And the doughnut's boundaries unleash the potential for humanity to thrive with boundless creativity, participation, belonging and meaning.”