Results for “Kate Raworth”

We believed, and took on board the promise of growth, that it would even things up again, that it would clean up after itself, and that actually was a panacea to many of our economic ills. Yet, all the evidence has shown us that growth does not even things up- some of the richest countries in the world are becoming immensely unequal and we have seen that growth certainly doesn't clean-up after itself.

Creator of the Doughnut Economics framework for sustainable development

What's unnerving is that when students learn about this character (rational economic man), over time they begin to value self-interest and competition over altruism and collaboration. These models are performative. When we say rational economic man, we become more like him. Who we tell ourselves we are, shapes who we become…

Creator of the Doughnut Economics framework for sustainable development

The economy is a subset of society, it's a social construct. It's entirely created by humanity- by the way we interact with one another to meet our wants and needs and human society itself is embedded in the living world, we are part of nature whether we like it or not- and we have to respect the rest of nature.

Creator of the Doughnut Economics framework for sustainable development

Economics depicts humanity as a character called rational, economic man. I'd say he has to be a man- he has no dependants. He's a man standing alone with money in his hand, ego in his heart, a calculator in his head and nature at his feet. When we show-up, we're told that we're competitive and self-interested, the traits of the market.

Creator of the Doughnut Economics framework for sustainable development

Until the Wall Street Crash of 1929, the economy had been measured in tonnes of grain and steel, and because of the crash- economists and politicians decided they wanted some grip over the scale of output of the economy- so they turned to a brilliant young scientist called Simon Kuznets and asked him how they should be measuring economic output. His answer was published in 1930s- he figured out a way to add-up all the tonnes of grains and steel and create a national income figure. He gave the caveat that it would scarcely be taken as the measure of welfare of a nation because it didn't include all the value created in a community, all the unpaid caring work at home, and only measured what was sold- not what was used-up!

Creator of the Doughnut Economics framework for sustainable development

GDP only catches a slice of the value that we value. It captures what goes on in the market, the financial value of goods and services sold in an economy over a year. In the boxing match between free market laissez-faire capitalists and state loving socialists the economic debate ignored the household – which is expected to provide the food, do the cooking, washing, cleaning, sweeping, education, look after the sick and elderly, yet is completely missing from GDP.

Creator of the Doughnut Economics framework for sustainable development

We have to leave behind the myth that our economies are actually fit for the present that we understand, and the vision of the future we want to create. We need to redesign economics for our times.

Creator of the Doughnut Economics framework for sustainable development

The rich get richer, and the poor get poorer, and the market doesn't even things out. It takes massive state intervention through public services, health services, social housing and income redistribution to even begin to equalise or reduce inequality.

Creator of the Doughnut Economics framework for sustainable development

We are, in the early days of the 21st century, talking about the death of the living world as an environmental externality. That alone should be an alarm-bell that our framework doesn't serve our time.

Creator of the Doughnut Economics framework for sustainable development

GDP only catches a slice of the value that we value. It captures what goes on in the market, the financial value of goods and services sold in an economy over a year. We need to get away from the narrow, monetary, measure of GDP which asserts that economic value is the only thing we care about.

Creator of the Doughnut Economics framework for sustainable development