Thursday, April 13, 2017

Monbiot reviews Doughnut Economics

See it here. Some excertps:

"We cannot hope to address our predicament without a new worldview. We cannot use the models that caused our crises to solve them. We need to reframe the problem. This is what the most inspiring book published so far this year has done. In Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist, Kate Raworth of Oxford University’s Environmental Change Institute reminds us that economic growth was not, at first, intended to signify well being."

"Raworth points out that economics in the 20th century 'lost the desire to articulate its goals'. It aspired to be a science of human behaviour: a science based on a deeply flawed portrait of humanity. The dominant model – 'rational economic man', self-interested, isolated, calculating – says more about the nature of economists than it does about other humans. The loss of an explicit objective allowed the discipline to be captured by a proxy goal: endless growth."

"The aim of economic activity, she argues, should be 'meeting the needs of all within the means of the planet'. Instead of economies that need to grow, whether or not they make us thrive, we need economies that 'make us thrive, whether or not they grow'. This means changing our picture of what the economy is and how it works."

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