7 ways to think like a 21st century economist

But the time for mere critique is past, which is why the focus here is on creating new images that capture the essential principles to guide us now. The rest of this book proposes seven ways to think like a twenty-first-century economist, revealing for each of those seven ways the spurious image that has occupied our minds, how it came to be so powerful and the damaging influence it has had. Whether you consider yourself an economic veteran or novice, now is the time to uncover the economic graffiti that lingers in all of our minds and, if you don’t like what you find, scrub it out or, better still, paint it over with new images that far better serve our needs and times. Seven Ways to Think Like a Twenty-First-Century Economist

Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers.This excerpt has been adapted from Kate Raworth’s book Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist (Chelsea Green, 2017) and is printed with permission from the publisher. Raworth handpicks the best emergent ideas-from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science-to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Along the way, she points out how we can break our addiction to growth redesign money, finance, and business to be in service to people and create economies that are regenerative and distributive by design. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does.

That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. A Financial Times 'Best Book of 2017: Economics”Ĩ00-CEO-Read “Best Business Book of 2017: Current Events & Public Affairs”Įconomics is the mother tongue of public policy.

7 ways to think like a 21st century economist