How to think like a 21st century economist

 

—>>>Enter the Doughnut Economy!

by Kate Raworth, Renegade Economist

“But sometimes people say to me, “Oh I love your optimism!” And I say, “Hang on, I didn’t say I was optimistic.” In fact, I’ve come to put it like this.

“Don’t be an optimist if it makes you relax. You know, “Technology will sort things out! We always figure out new ways!” Don’t be an optimist if it makes you think like that bcause it’s very dangerous to sit back on your heels right now. There’s absolutely no evidence that this thing is going to sort itself out. But also don’t be a pessimist if it makes you give up, if it means you feel overwhelmed and you turn your back and you must don’t want to be part of this because it’s too overwhelming. I say,

“Don’t be an optimist or a pessimist, be an activist.”

And ask, what can I do? From who I am, from where I sit, as a parent or a neighbour or a voter or a member of the local council or an entrepreneur or an employee.”

Kate Raworth in an interview in Dumbo Feather, Issue 55 in 2018

1.

21st Century Economics as it shall be taught at school shortly.

Finding the sweet spot for collective humanity, all within the bounds of our planetary habitat.

2.

Story telling, that most ancient of Human arts!

Stories can make or break us, every marketer knows that.

Time for us to ditch the mythology around invisible hands, outdated neoliberalism, and infallible market efficiencies.

We need new economic stories, s’il vous plait!

3.

Who are we?

Who is Homo economicus?

Who is wired for empathy, cooperation, and mutual aid and exchange?

Who is interdependent with Nature?

4.

Time to ditch old-world-economics and embrace reality-based economic complexity:

Time to mess with spiralling feedback loops, emerging trends, and surprise tipping points…

Time to put on our savvy-systems-thinking-cultivate-the-NEco-lenses!!

5.

Design failures are largely responsible for the increasing inequality around the world.

One thing we can do:

Embed distributed design to replace the old trickle-down approach. 

6.

The current, old-world paradigm:

Take, Make, Use, Lose.

🙁

SOOOOO what we need, is to go from

Degenerative by default

to

Regenerative by design

🙂

7.

Never-ever-ending sweet’n sour growth…

for better or worse…?!

Stop, Rethink:

Value distribution, considerations of the living world, of natural cycles and regeneration.

Do yourself a favour, and be agnostic about growth.

More by the Renegade Economist:

An excellent response to a critic from the field of old economics.

Kate’s website.

Doughnut Economics on YouTube.

Kate on Twitter.

The Doughnut Eco by Kate Raworth