Can we create an economy that both serves human needs and respects the planet's ecological limits? British economist Kate Raworth challenges traditional growth-centric economic models with her innovative approach known as Doughnut Economics.
Raworth's book, 'Doughnut Economics,' outlines an economic framework that seeks to meet basic human needs without overshooting Earth's ecological boundaries. She visualizes this balance as a 'safe and just space' between two layers: an inner social foundation and an outer ecological ceiling.
The nine 'ecological ceilings' represent critical planetary boundaries, like climate change and ocean acidification, that we should not exceed to preserve Earth's ecological balance.
Conversely, the twelve 'social foundations' are essential needs such as food, clean water, and social equity that should be universally met.
'Shortfall' is what happens when these basic needs are unmet, resulting in human deprivation, whereas 'overshoot' refers to exceeding ecological limits, thereby jeopardizing the planet's health.
Imagine a world where the well-being of both people and the planet are in harmony.
Doughnut Economics offers us a roadmap, replacing the unsustainable pursuit of endless growth with the more attainable goal of thriving in balance.