Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist

by Kate Raworth

July 12, 2020 — July 25, 2020

Los Angeles, CA

Recommended by Ahmad Al-Houti

While I’m an Urban Planner by profession and education, my first bachelor’s was actually in Political Economy, which this book radiated in a simple form using diagrams and examples (cases); equations, technical writing, and scientific research are formidable for the experts/professionals, but this book is appealing as it presents pictures, diagrams, slogans, and culture for everyone else to understand. Its core goal is to present that the economy should be focused on enlarging people’s capabilities, advancing their wellness, and improving their quality of life; which is related to one of my research papers based on Amartya Sen’s concept of economic development. Furthermore, creating an economy that is distributive and regenerative by design. We are faced with the conundrum that we have an economy that needs to grow, whether or not it makes us thrive; but we need an economy that makes us thrive, whether or not it grows.

Economic growth has always been a debated subject regarding its value, approach, and reality. The book outlines how we are dependent on the world and the resources it gives us, indirectly and directly, and if we destroy it with a motive for another form of growth, it will eventually perish, vanish, or even backfire. It calls for the involvement of more governance to regulate how we treat our world better, through different approaches to either design our reactions or incentivize our actions. It comes to producing a cleaner environment and tackling the crisis of global inequality; by reforming regulations and utilizing technology/innovation, with the theme of sustainable development installed.

There were revolutionary concepts that intrigued me, such as the idea of complementary currencies, peer-to-peer platforms, and more; without a doubt, it caused me to think if I could create my own versions of these entities.