Doughnut Economics
Welcome back to Bears, Beets, Breaking News #2 —your favorite sporadic newsletter, as unpredictable as a Dunder Mifflin staff meeting. Today, we’re diving into a topic more complex than Michael Scott’s management style: Doughnut Economics.
Doughnut Economics: A Framework for Sustainable Development
Doughnut Economics, introduced by Kate Raworth in 2012
- Inner Ring: The social foundation, encompassing essential human needs such as health, education, and gender equality.
- Outer Ring: The ecological ceiling, based on the planetary boundaries framework developed by the Stockholm Resilience Centre. This identifies nine critical Earth system processes that maintain planetary stability and resilience.
Shortfalls and overshoot in the Doughnut
The Safe and Just Space for Humanity
Between these two rings lies the “safe and just space for humanity,” where human needs are met without overshooting Earth’s ecological limits. Unlike traditional economic models that prioritize unlimited growth, Doughnut Economics advocates for creating regenerative and distributive economies that thrive within planetary boundaries.
Seven Ways to Think Like a 21st-Century Economist
Doughnut Economics proposes seven key principles to guide modern economic thinking:
Seven ways to think like a 21st-century economist Source: Doughnut Economics Action Lab
This framework has gained traction internationally, influencing discussions across education, communities, businesses, and governments. Its holistic approach offers a promising path toward achieving sustainable development while respecting social and ecological boundaries.
The Doughnut’s Secret Recipe: Three Pillars of Sustainability
The three pillars of sustainability—environmental, social, and economic—are baked right into the Doughnut Economics model. The goal is to find balance and create systems that work harmoniously across these interconnected domains.
That’s all for now, folks! Remember, in the words of the great philosopher Michael Scott, “I’m not superstitious, but I am a little stitious.”
For more information on Doughnut Economics, visit Doughnut Economics Action Lab. To learn about the planetary boundaries framework that informs the Doughnut’s ecological ceiling, check out the Stockholm Resilience Centre.