BoM March 2018

Our March book of the month is Doughnut Economics by Kate Raworth.

Economics is broken. It has failed to predict, let alone prevent, financial crises that have shaken the foundations of our societies. Its outdated theories have permitted a world in which extreme poverty persists while the wealth of the super-rich grows year on year. And its blind spots have led to policies that are degrading the living world on a scale that threatens all of our futures.

Can it be fixed? In Doughnut Economics, Oxford academic Kate Raworth identifies seven critical ways in which mainstream economics has led us astray, and sets out a roadmap for bringing humanity into a sweet spot that meets the needs of all within the means of the planet. En route, she deconstructs the character of ‘rational economic man’ and explains what really makes us tick. She reveals how an obsession with equilibrium has left economists helpless when facing the boom and bust of the real-world economy. She highlights the dangers of ignoring the role of energy and nature’s resources – and the far-reaching implications for economic growth when we take them into account. And in the process, she creates a new, cutting-edge economic model that is fit for the 21st century – one in which a doughnut-shaped compass points the way to human progress.

Ambitious, radical and rigorously argued, Doughnut Economics promises to reframe and redraw the future of economics for a new generation.

Raworth’s magnum opus . . . A fascinating reminder to business leaders and economists alike to stand back at a distance to examine our modern economics.’ Books of the Year, Forbes

‘There are some really important economic and political thinkers around at the moment – such as Kate Raworth’s Doughnut Economics.’ Andrew Marr, Guardian

‘An admirable attempt to broaden the horizons of economic thinking.’ Martin Wolf, Books of the Year, Financial Times

Fore more details on Kate Raworth’s own site click here.

For a review by George Monbiot click here.


    1. Sean Danaher -

      the plug is fine. Thanks

  1. Graham -

    Thanks for the heads-up on this. I had seen it around but I don’t like doughnuts (unless the cream variety) and was discouraged from reading it. Now just over half-way through and am impressed by the radical viewpoints. I particularly like this piece I read this morning:

    “Attempting to sustain GDP growth in an economy that may actually be close to maturing can drive governments to take desperate and destructive measures. They deregulate – or rather reregulate – finance in the hope of unleashing new productive investment, but end up unleashing speculative bubbles, house price hikes, and debt crises instead. They promise business that they will ‘cut red tape’, but end up dismantling legislation that was put in place to protect workers’ rights, community resources and the living world. They privatise public services – from hospitals to railways – turning public wealth into private revenue streams. They add the living world into the national accounts as ‘ecosystem services’ and ‘natural capital’, assigning it a value that looks dangerously like a price. And, despite committing to keep global warming ‘well below 2°C’, many such governments chase after the ‘cheap’ energy of tar sands and shale gas, while neglecting the transformational public investments needed for a clean-energy revolution. These policy choices are akin to throwing precious cargo off a plane that is running out of fuel, rather than admitting that it may soon be time to touch down.”

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