She argues it’s time to go beyond growth as the objective of economic development and to focus more on investing in the human, natural and social wealth that is the backbone of the economy. The doughnut helps us to understand the challenges we face and to come up with new ideas of how to get there. Raworth goes on to explain how the doughnut approach can be a way for governments, individuals and companies to make the necessary changes to ensure we reduce poverty and don’t go past planetary boundaries. We have already gone over 3 of these boundaries (by releasing too many greenhouse gases and nitrogen into the atmosphere and biodiversity loss). The core of the doughnut theory is that there are 9 planetary boundaries that we can’t go beyond if we want to keep the planet in a benevolent state for us to thrive in.
The challenge is to find a model that ensures we all have the resources we need to meet our human rights but “collectively we do it within the means of this one planet”.
In other words, the aim is to meet the needs of everyone, within the means of the planet – a widescale systemic change of the global economy and all its industries.She talks about debates that question the concept of economic growth and highlights high levels of inequality. contributing to issues such as climate change and biodiversity loss. The aim is to ensure that no-one is left in the central hole of the doughnut, falling short on life’s essentials, while simultaneously ensuring that human activity doesn’t overshoot the outer crust by putting too much pressure on Earth’s life-supporting systems i.e. Her economic theory represents society as a doughnut, stressing that we need to operate within the two rings of the doughnut: managing our activities with the acceptance that the Earth’s resources are not infinite. Working globally with universities, politicians and the public, she continues to stress the importance of striving for sustainable economic growth within the means of the planet, providing an alternative to outdated models that result in ‘economies that grow whether on not they make us thrive’. Leading Renegade Economist at Oxford University, Kate Raworth, was part of the official agenda at the World Economic Forum, promoting her theory ‘Doughnut Economics’, through which she aims to change the way society approaches its resource management for the better.
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