{"componentChunkName":"component---src-templates-blog-post-js","path":"/what-is-donut-economics/","result":{"data":{"site":{"siteMetadata":{"title":"Catwomaniya"}},"mdx":{"id":"c0234c34-5022-5e9c-bca5-7544d1b4c045","excerpt":"While in college, they taught me about basic economics, supply-demand, etc. And I have long believed that GDP is a really important factor for the economy to…","body":"function _extends() { _extends = Object.assign || function (target) { for (var i = 1; i < arguments.length; i++) { var source = arguments[i]; for (var key in source) { if (Object.prototype.hasOwnProperty.call(source, key)) { target[key] = source[key]; } } } return target; }; return _extends.apply(this, arguments); }\n\nfunction _objectWithoutProperties(source, excluded) { if (source == null) return {}; var target = _objectWithoutPropertiesLoose(source, excluded); var key, i; if (Object.getOwnPropertySymbols) { var sourceSymbolKeys = Object.getOwnPropertySymbols(source); for (i = 0; i < sourceSymbolKeys.length; i++) { key = sourceSymbolKeys[i]; if (excluded.indexOf(key) >= 0) continue; if (!Object.prototype.propertyIsEnumerable.call(source, key)) continue; target[key] = source[key]; } } return target; }\n\nfunction _objectWithoutPropertiesLoose(source, excluded) { if (source == null) return {}; var target = {}; var sourceKeys = Object.keys(source); var key, i; for (i = 0; i < sourceKeys.length; i++) { key = sourceKeys[i]; if (excluded.indexOf(key) >= 0) continue; target[key] = source[key]; } return target; }\n\n/* @jsx mdx */\nvar _frontmatter = {\n  \"title\": \"What is donut economics ?\",\n  \"date\": \"2020-08-24\",\n  \"description\": \" Some key takeaways from Donut Economics book. 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particularly housewives - is ignored, no economy can function without them .\"), mdx(\"p\", null, \"This portrayal of the economy as a closed loop of money and resources has been lodged into the brain of every individual, and just like me, hardly anyone questions it.\"), mdx(\"h3\", null, \"PANDEMIC\"), mdx(\"p\", null, \"I am seeing endless debates on news channels and reports about the pandemic\\u2019s effect on economies around the world.\"), mdx(\"p\", null, mdx(\"strong\", {\n    parentName: \"p\"\n  }, mdx(\"em\", {\n    parentName: \"strong\"\n  }, \"\\u201CAccording to the International Monetary Fund (IMF), the global economy is expected to shrink by over 3 per cent in 2020 \\u2013 the steepest slowdown since the Great Depression of the 1930s.\\u201D\"))), mdx(\"p\", null, mdx(\"strong\", {\n    parentName: \"p\"\n  }, mdx(\"em\", {\n    parentName: \"strong\"\n  }, \"In India, the unemployment rate reached 27.1 per cent in early May, as nearly 122 million Indians lost their jobs between March and April. Experts beleive a significant perecentage of these jobs will not be recovered.\"))), mdx(\"p\", null, \"It\\u2019s kind of hard to imagine the social and economic effect that is coming our way, it doesn\\u2019t look good at all.\"), mdx(\"p\", null, mdx(\"a\", _extends({\n    parentName: \"p\"\n  }, {\n    \"href\": \"http://www3.weforum.org/docs/WEF_COVID_19_Risks_Outlook_Special_Edition_Pages.pdf\"\n  }), \"COVID-19 Risks Outlook - A Preliminary Mapping and its Implications\"), \" raises the alarm bell on a potential vicious future cycle of \\u201Ccontinued environmental degradation, biodiversity loss and further zoonotic infectious disease outbreaks\\u201D\"), mdx(\"p\", null, \"While it\\u2019s definitely tempting to compare current economic projections with the 2008 financial crisis, it\\u2019s not going to be the same. The aftermath is going to be more problematic.\"), mdx(\"p\", null, \"To quote Nobel laureate economist, Joseph E. Stiglitz, \", mdx(\"strong\", {\n    parentName: \"p\"\n  }, mdx(\"em\", {\n    parentName: \"strong\"\n  }, \"\\u201CIn many ways, it\\u2019s far worse than 2008.\\u201D\"))), mdx(\"p\", null, \"While it\\u2019s tempting to fall back to old methods and rely on the economist\\u2019s traditional toolbox to fix these problems, this may be an opportunity for institutes and think tanks around the world, to make a case for a shift in economic thinking. In the wake of a dire socio-economic crisis, what seems impossible or what was deemed unnecessary a few months back, is now on the forefront.\"), mdx(\"p\", null, \"The answer is a \", mdx(\"strong\", {\n    parentName: \"p\"\n  }, \"doughnut\"), \". \"), mdx(\"p\", null, mdx(\"img\", _extends({\n    parentName: \"p\"\n  }, {\n    \"src\": \"/ed683e65da28294e232890f1c687b670/doh.gif\",\n    \"alt\": \"Homer Simpson with donuts\"\n  }))), mdx(\"p\", null, \"The brainchild of Kate Raworth, an English economist working for the University of Oxford, authored the book \", mdx(\"strong\", {\n    parentName: \"p\"\n  }, \"\\u201CDoughnut Economics: Seven Ways to Think Like a 21st-Century Economist\\u201D\"), \" which was a hit and is again gaining quite some eyeballs after the pandemic hit.\"), mdx(\"p\", null, \"Raworth\\u2019s bestselling book (\", mdx(\"a\", _extends({\n    parentName: \"p\"\n  }, {\n    \"href\": \"https://www.amazon.in/Doughnut-Economics-Kate-Raworth/dp/1847941389\"\n  }), \"Amazon\"), \") has graced the bedside tables of multiple economists and politicians. It is described as a \\u201Cbreakthrough alternative to growth economics\\u201D\"), mdx(\"p\", null, \"Drawn as two concentric circles (i.e., donut) explaining the flow between materials and energy, to remind us that we are more than just workers and cash generators/consumers. It\\u2019s a graphical representation of the world we should create. The inner ring of the doughnut is inspired by the UN\\u2019s Sustainable Development Goals (SDGs) and represents the minimum things we need to lead a good life \\u2013clean water, shelter, gender equality. The outer ring of the doughnut is defined by the ecological limits one oughts to respect to avoid damaging the environment and disrupting the climate. The \\u2018dough\\u2019, therefore, represents the resources we can use.\"), mdx(\"h3\", null, \"KEY TAKEAWAYS FROM THE BOOK\"), mdx(\"ul\", null, mdx(\"li\", {\n    parentName: \"ul\"\n  }, \"Questions present images of the exclusive goal of economy as growth, of economy as a self-contained system and humans as rational, self-interested and dominant over nature.\"), mdx(\"li\", {\n    parentName: \"ul\"\n  }, \"Talks about market organism, rather than market mechanisms. Wonders if economists would see themselves as gardeners who are stewards rather than believing that things will self-regulate.\"), mdx(\"li\", {\n    parentName: \"ul\"\n  }, \"Explore the dynamics of a complex organic economic system, that is distributive and regenerative  by design. Regenerative by design gives a way for people to become full participants in regenerating Earth\\u2019s life giving cycles so that we thrive within planetary boundaries. \"), mdx(\"li\", {\n    parentName: \"ul\"\n  }, \"Wonders about an economic design that promotes human prosperity whether GDP is going up, down, or holding steady.\")), mdx(\"p\", null, mdx(\"span\", _extends({\n    parentName: \"p\"\n  }, {\n    \"className\": \"gatsby-resp-image-wrapper\",\n    \"style\": {\n      \"position\": \"relative\",\n      \"display\": \"block\",\n      \"marginLeft\": \"auto\",\n      \"marginRight\": \"auto\",\n      \"maxWidth\": \"590px\"\n    }\n  }), \"\\n      \", mdx(\"a\", _extends({\n    parentName: \"span\"\n  }, {\n    \"className\": \"gatsby-resp-image-link\",\n    \"href\": \"/static/7f026fb020151431439b1c163e22a619/33064/7.jpg\",\n    \"style\": {\n      \"display\": \"block\"\n    },\n    \"target\": \"_blank\",\n    \"rel\": \"noopener\"\n  }), \"\\n    \", mdx(\"span\", _extends({\n    parentName: \"a\"\n  }, {\n    \"className\": \"gatsby-resp-image-background-image\",\n    \"style\": {\n      \"paddingBottom\": \"77.70270270270271%\",\n      \"position\": \"relative\",\n      \"bottom\": \"0\",\n      \"left\": \"0\",\n      \"backgroundImage\": \"url('data:image/jpeg;base64,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')\",\n      \"backgroundSize\": \"cover\",\n      \"display\": \"block\"\n    }\n  })), \"\\n  \", mdx(\"img\", _extends({\n    parentName: \"a\"\n  }, {\n    \"className\": \"gatsby-resp-image-image\",\n    \"alt\": \"Donut econmics model from her book\",\n    \"title\": \"Donut econmics model from her book\",\n    \"src\": \"/static/7f026fb020151431439b1c163e22a619/1c72d/7.jpg\",\n    \"srcSet\": [\"/static/7f026fb020151431439b1c163e22a619/a80bd/7.jpg 148w\", \"/static/7f026fb020151431439b1c163e22a619/1c91a/7.jpg 295w\", \"/static/7f026fb020151431439b1c163e22a619/1c72d/7.jpg 590w\", \"/static/7f026fb020151431439b1c163e22a619/33064/7.jpg 837w\"],\n    \"sizes\": \"(max-width: 590px) 100vw, 590px\",\n    \"style\": {\n      \"width\": \"100%\",\n      \"height\": \"100%\",\n      \"margin\": \"0\",\n      \"verticalAlign\": \"middle\",\n      \"position\": \"absolute\",\n      \"top\": \"0\",\n      \"left\": \"0\"\n    },\n    \"loading\": \"lazy\"\n  })), \"\\n  \"), \"\\n    \")), mdx(\"h3\", null, \"NO CRITICISM?\"), mdx(\"p\", null, \"Well, of course, there is. \"), mdx(\"p\", null, \"Free-market economists have criticized Raworth\\u2019s theories, stating that her ambitious programs needed to meet social needs and protect the environment are impossible without massive economic growth.\"), mdx(\"p\", null, \"Also, it fails to give a clear explanantion about the socially-contructed desired minimum levels and the thresholds above which environmnetal problems are likely. 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For instance, buildings will get a \\u2018materials passport\\u2019 so that demolition companies can determine whether materials are still valuable and/or where reusable materials can be found. \"), mdx(\"p\", null, \"The municipality also plans on reducing its own use of new raw materials by 20% and by 2030, only make circular purchases. (What the heck are \", mdx(\"a\", _extends({\n    parentName: \"p\"\n  }, {\n    \"href\": \"http://circularpp.eu/\"\n  }), \"circular purchases\"), \"?) This is not just applicable to the procurement of products such as office supplies, computer equipment but also to infrastructure projects such as road-building.\"), mdx(\"p\", null, \"Amsterdam has already started working with businesses and research organisations on over 200 circular economy projects\"), mdx(\"p\", null, \"Although, experts also suggest that this isn\\u2019t going to be easy. This strategy is asking the people of Amsterdam to venture out and experiment, accept risk and break old habits, towards a better future, whose benefits may not even be visible in the near future or in the local vicinity.\"), mdx(\"p\", null, \"More so, France used it to report on its sustainable development last year, allowing the country to take a look at the interactions between human needs and overall respect for the environment.\"), mdx(\"p\", null, \"In a poll of 29 countries, 65% of the people said they want their governments to prioritize Climate change during pandemic recovery. Germany is already planning to use stimulus money to build green infrastructure. \"));\n}\n;\nMDXContent.isMDXComponent = true;","frontmatter":{"title":"What is donut economics ?","date":"Aug 24, 2020","description":" Some key takeaways from Donut Economics book. Alongwith a brief understanding of how the world is reacting to it, in reality"}}},"pageContext":{"slug":"/what-is-donut-economics/","previous":{"fields":{"slug":"/how-is-medical-waste-disposed-of/"},"frontmatter":{"title":"How is medical waste disposed of?"}},"next":{"fields":{"slug":"/why-you-should-rather-be-using-a-menstrual-cup/"},"frontmatter":{"title":"Why you should rather be using a menstrual cup ?"}}}}}