‘Powerful’, ‘sensible’, ‘the opposite of self-centred’, ‘regenerative’, ‘optimistic’ and ‘a book everyone should read’. These were the snap reviews of Kate Raworth’s work Doughnut Economics, the topic of September’s Our Planet Our Future book club.
The book argues for the adoption of the ‘doughnut’, an economic sweet spot where we can meet the needs of all within planetary boundaries. The simple visual of the doughnut makes the concept easy to visualise and grasp.
For richer or poorer?
The book club session started with a discussion of GDP and how a temporary measure became an obsession that economists and world leaders blindly chase. The measure was only ever intended to get countries back on track after World War II, but it soon became a given to expect growth to continue indefinitely.
Instead, Raworth argues we should be “growth agnostic” and explore how our economies can learn to live with or without it, instead prioritising human development.
As one reader pointed out, development is not the same as growth. They cited an example of a developing country installing solar panels on shacks. Would this be reflected in GDP growth? No. But it would undoubtedly benefit local people who would enjoy cleaner air and cheaper energy.
One reader observed that many countries that saw a big increase in GDP experienced growth as a result of petrochemicals. Likewise, many developed countries simply outsource emissions to other countries that extract raw materials and produce their goods. Here in the UK, we do not experience all the emissions we are responsible for – other countries bear the brunt.
Adopting the Doughnut
Kate Raworth is currently senior associate at Oxford University’s Environmental Change Institute and a Professor of Practice at Amsterdam University of Applied Sciences. She also advises the Doughnut Hub in Amsterdam. Her work has been influential, not only in teaching the next generation of economists, but she regularly presents the Doughnut to companies and organisations.
So have any organisations bitten? Yes as it turns out. Cornwall adopted a version of the doughnut, considering whether every local decision would benefit future generations. You can find out more about Cornwall’s Doughnut here.
Related are complementary currencies like the Totnes pound, devised to encourage local trade and build resilience in the local economy. This initiative was successful until the pandemic accelerated the move to a cashless society. Could we revive and reinvent it for today’s world?
Commons – shared resources – are another interesting idea. Different companies and countries could work together to solve common problems instead of competing. There have already been successful examples in Linux, the Covid vaccine and the Library of Things. Could we all work together to develop a solution to our existential crisis?
We agreed Doughnut Economics should be a core text. Not only for budding economists, but future leaders, local councillors and school children. And it would make a fantastic model for new towns.
Find out more about Doughnut Economics and Kate Raworth here.
Our next event
Want to broaden your knowledge of sustainability challenges and solutions while meeting like-minded readers?
On the 21st of November, we’ll discuss Badvertising: Polluting Our Minds and Fuelling Climate Chaos by Andrew Simms and Leo Murray at the Cross Keys pub in Harpenden. Book your free spot here.
The book came out this year and the paperback copy has just launched. You can currently get it at a discount from Hive, which supports independent bookshops with every sale.
About Our Planet Our Future’s Environment Book Club
Our Planet Our Future, our landmark series of talks and events, launched an Environment Book Club in 2023, meeting in Harpenden to discuss sustainability-related reads.