BOOK REVIEW - Doughnut Economics : Kate Raworth

Kate Raworth writes accessibly and persuasively about how some of the basic assumptions and prescriptions of neoclassical economics and political economy need to change for us to have a socially just, environmentally sustainable, and thriving economy. Attuned to the central role that images/diagrams play in how economics is taught and understood, she came up with her "doughnut," a way to reflect the embeddness of the economy within society and within the environment. The "doughnut" inspires us to think about thriving--within given limits. 

Raworth's "seven ways to think like a 21st-century economist" are the following:
(1) Change the Goal (from GDP to the Doughnut)
(2) See the big picture (from a self-contained market to an embedded economy)
(3) Nurture human nature (from rational economic man to social adaptable humans)
(4) Get savvy with systems (from mechanical equilibrium to dynamic complexity) 
(5) Design to distribute (from "growth will even it up again" to "distributive by design")
(6) Create to regenerate (from "growth will clean it up again" to "regenerative by design")
(7) Be agnostic about growth (from "growth addicted" to "growth agnostic")

Raworth cogently breaks down the failing of dominant economic theory and practice and weaves the history of the discipline into her narrative. Changing the way economics is taught at universities (and thus the mindsets of future business leaders and policymakers) is a tough task, but Raworth has the right passion and intellect. We should all hope that she succeeds.

It's rare when someone has the vision + the brains + the charisma to 1) challenge received wisdom, 2) offer a fully-formed alternative, and 3) explain it clearly & succinctly. I read about 30 "business" books a year cover to cover (have to for my work), and this is the most jaw-dropping one I've read in a long while. Whole-heartedly & whole-braintedly recommended.