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Fresh and hopeful.

Tip for a productive reading: read the original ideas in Chapters 1 and 7. Read the rest following your curiosity.

After reading Less is More, I was feeling depressed. When trying to find a more nuanced and less ideological book, I stumbled upon Doughnut Economics. It fulfilled my need for a clearer and more nuanced understanding of where things are heading. It provides hopeful solutions. Best, it also highlights many initiatives that are already in motion that, unbeknownst to me, were already working towards a new economy.

The freshness comes with the core idea of replacing the obsession of GDP growth with an all-encompassing metric that takes into account, at a minimum, social equity boundaries and at a maximum, our planet’s boundaries.

The author does not accuse or blame anyone. Instead, she contextualizes the problems that our current classic models were trying to address, in their time and place. The author feels credible and trustworthy. It does not read at all like an activist’s manifesto.

I also appreciate how the author gives a few lessons of humility to her peers: economy is not a hard science and is mostly social and conventional, the “rational man” is a cartoon character that does not exist in real life and human activities follow dirty complex patterns rather than elegant mechanistic ones.

The author revives the dignity of “the commons” and the government, without crossing the line of idealism. Market, households, commons and government all have strengths and weaknesses and thus all have a role to play.

On the writing itself, it is accessible, clear and it flows well. I just found that sometimes the author was trying too hard and some literary devices felt a bit tacky. When she compares the economic actors to a play, she pushes the metaphor too far and the book feels slightly gimmicky.

Finally, I am happy that the book has now a few years behind its cover. This hindsight allow us to appreciate its positive influence, as reported in this Times article on the city of Amsterdam’s adoption of the core concepts of the book: https://time.com/5930093/amsterdam-doughnut-economics/

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This is a really incredible book. It is an excellent guide not only to understanding our current system but also the ways in which we need to change in order to live within planetary boundaries. I went into it knowing very little about economics but I never felt overwhelmed as the information is presented in a very clear way. In fact, the topic of how we present information and the power of diagrams is persistent throughout the book, and many diagrams are used to illustrate the author's points. It presents realistic ways in which we can change our current system, as well as questioning many of the previously accepted assumptions of economics. The book argues that our current economic system under-values the Earth, the commons and the household- a fact I found particularly surprising was that if women were paid the hourly rate for the roles they take on in the household (housekeeper, daycare, cleaner etc) then stay at home mums would earn $120,000 a year. But that was just one of many revelations I had whilst I read this- I could go on at length about all of the other interesting things I learnt from this book but I'll just leave it at this: I think everyone should read this book, even (and perhaps especially) those with no interest in economics.
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Excellent work from Kate Raworth! This book has been on my list for some time now, I'm glad I finally sat down and read it. It's not nearly as dense as it may sound (being about economics) and it's quite an inspiring read. A great reminder that we do, in fact, already have all the solutions we need. We just need to put them into practice.

A heartfelt critique of 'modern' (though not always up to date) economic thought. The attempt to propose a framework for moving beyond existing paradigms is less successful (to me) than the critique itself. The 'doughnut' is the author's visual organizing metaphor which doesn't resonate with me, but this is a 'popular economics' book and the hook as a device may be useful in that context. I think back to the economic critique's of my youth (e.g., John Kenneth Galbraith) which I found more cogent and motivating.

Clear instruction in a new economic model that is needed to transition us away from a focus on hypergrowth and consumption that is proving unsustainable long-term.

The best part of this book was definitely the idea that we should have a maximum wage that is x times the amount of the minimum wage in the company. Let's do it!

Kate Raworth's concept of donut economics is a powerful tool for figuring out a way forward for humanity. The inside of the donut represents basic needs like food, shelter, and healthcare. The economy has to be big enough to fulfil those needs for all. But the outside of the donut represents the damage that the economy can do- air pollution, climate change, biodiversity loss, etc. The donut is the sweet spot where needs are met without destroying the planet. As Raworth says repeatedly in the book, graphics can illustrate some concepts much better than words. To see the donut visit https://www.kateraworth.com/doughnut/.

So everyone should know about the donut. But this book may not be best way to do it. Raworth is obviously very knowledgeable about economics, theory and history. She writes beautifully and narrated the audiobook very well. So why the three star review? Too much economic history. I understand her purpose in including the history to illustrate how economists went astray in their purpose of growth and other mistakes (in Raworth's view) in the 20th century. And how some economists had a different approach but were ignored by the academic and political powers. All that would be very interesting and useful for economic students and practicing economists. But for a general reader, like me, it was kind of a waste. So it might be better to search for a short article, with illustrations, or Raworth's TED talk to understand donut economic well enough for it to inform your decisions about economics and politics.

If you do want to read the book, read it, don't listen to the audiobook. In her narration Raworth keeps referring to downloadable illustrations. Maybe if you buy the audio book they give you a web address where you can get all the illustrations, but I borrowed the audiobook from the library and had no idea where to find the illustrations.

Some great ideas; a bit repetitive/over-egged in places, particularly as it draws on. Some editing would see this a solid 4-star book. The world certainly needs the ideas.