October 25, 2023
Doughnut Economics - what's it all about?
Doughnuts are for eating right?
Well, yes, they are, but as much as we love the sweet doughy treats, that’s not what this piece is about.
Doughnut economics is a bit of a buzz term amongst those who are interested in a more sustainable future.
It’s a concept founded by Oxford economist, Kate Raworth, and comes from her book ‘Doughnut Economics: 7 ways to think like a 21stCentury Economist’. The Doughnut model is based on the idea that there is a social foundation of things we all need in order to survive as humans, and that this is balanced against an ecological ceiling of how much our planet can actually sustain.
If we fall short of our human needs, we fall through the hole in the middle, and if we go beyond what our planet can sustain, we face climate catastrophe. So, the idea is that we need to live within the sweet spot – the doughnut itself, and if we manage that we can create a sustainable future.
The concept in action
Some cities and communities have attempted to apply the Doughnut Model to their city, including Barcelona, and Amsterdam. As explained in an article in Time magazine, “The city drew up a “circular strategy” combining the doughnut’s goals with the principles of a “circular economy,” which reduces, reuses and recycles materials across consumer goods, building materials and food. Policies aim to protect the environment and natural resources, reduce social exclusion and guarantee good living standards for all.”
Global Doughnut Day
Doughnut economics places emphasis on collective community action, and fits perfectly with the ideals of the circularly economy – both of which are just what Benthyg is about! So we’re really pleased that one of our founders, Becky has been invited to take part in the Wales Global Doughnut Day on the 13 November.
The day is being planned by DEAL (Doughnut Economic Action Lab) and is being developed as a ‘unifying day of local action and global connection’. 30 locations will be taking part, from Beijing to Mumbai, and Kate Raworth herself will be joining the event as a Keynote Speaker.
Interested in learning more? Click here for info, or to register for the event.