Economics is broken. Its theories have created a world where millions of people live in extreme poverty, even as the personal wealth of the super-rich grows year on year. With human activity causing unprecedented degradation of the planet, climate change now poses an existential threat to everyone on Earth. All the while, economists seem unable to explain the financial crises that periodically shake the foundations of our societies – let alone know what we can do to prevent them.
Is there another way of running things? In Doughnut Economics, Oxford academic Kate Raworth explores what a new kind of economics might look like – one adapted to the unique problems of the twenty-first century. She shows why the assumptions of orthodox twentieth-century economists – on questions from GDP, to inequality, to the environment – have got things so wrong. And she explains how we can learn to inhabit the elusive sweet-spot of human development – between unacceptable human deprivation on one side, and environmental meltdown on the other; or, in other words, to live inside the economic doughnut.
Ambitious, radical, and rigorously argued, Doughnut Economics is a revelatory take on the economic problems that define our age. It is a road-map to building a safer, fairer, and greener world.