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Finally, a breakthrough alternative to growth economics – the doughnut

Finally, a breakthrough alternative to growth economics – the doughnut
So what are we going to do about it? This is the only question worth asking. But the answers appear elusive. Faced with a multifaceted crisis – the capture of governments by billionaires and their lobbyists, extreme inequality, the rise of demagogues, above all the collapse of the living world – those to whom we look for leadership appear stunned, voiceless, clueless. Even if they had the courage to act, they have no idea what to do. The most they tend to offer is more economic growth: the fairy dust supposed to make all the bad stuff disappear. You can see the effects in a leaked memo from the UK’s Foreign Office: “Trade and growth are now priorities for all posts … work like climate change and illegal wildlife trade will be scaled down.” We cannot hope to address our predicament without a new worldview. Raworth points out that economics in the 20th century “lost the desire to articulate its goals”. The central image in mainstream economics is the circular flow diagram.

https://www.theguardian.com/commentisfree/2017/apr/12/doughnut-growth-economics-book-economic-model

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