Posted by: Tony Shannon | July 31, 2017

Seven Ways to Think Like a 21st-Century Economist

As summer is here and a break beckons, I’ve been looking out for a good book.

With a broad interest and trying to understand the world of Brexit , Trumpit and all the confusion in the air, I’ve been looking a fair bit at some economics stuff. Not always easy reading but important material to brush up on these days.

So I’ve come across this interesting looking text, which looks like it should be entitled “Seven Ways to Think Like a 21st-Century Economist”

The long title is actually “Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist” by Kate Raworth, though I’m immediately wary of the doughnut in the title, as a potential barrier to get the masses to open their minds to a new way of thinking.

Here is a taste of the contents around “7 key ways to think like a 21st Century Economist”

  1. Change the goal: away from GDP Gross Domestic Product to sustainability and well-being.
  2. See the big picture: not just a self-contained ‘market’, but rather an ‘embedded economy’ which takes account of households, common property resources, the natural environment.
  3. Nurture human nature: and not just ‘homo economicus’, recognising that people are interdependent social beings, enmeshed in the web of life.
  4. Get savvy with systems: recognising complexity, challenging equilibrium economics, and learning to work with the grain, as gardeners not engineers.
  5. Design to distribute: tackling inequalities in wealth, land, and money.
  6. Create to regenerate: building a circular economy, reshaping the state, and raising the standard of business responsibility.
  7. Be agnostic about growth: not just decoupling growth from environmental resource use, but learning how to live without growth.

So far so good, am very interested , got the book and will read on..

Is there a way to look after our own interests, tackle inequality, while looking after the long term interest of this planet?
Lets hope so… will report back with a view in a month..



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