Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That's why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic "doughnut" image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas--from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science--to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers.
A Financial Times "Best Book of 2017: Economics” 800-CEO-Read “Best Business Book of 2017: Current Events & Public Affairs” Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas—from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science—to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers.
The book behind the hit TED Talk **The Sunday Times Bestseller** Economics is broken, and the planet is paying the price. Unforeseen financial crises. Extreme wealth inequality. Relentless pressure on the environment. Can we go on like this? Is there an alternative? In Doughnut Economics, Oxford academic Kate Raworth lays out the seven deadly mistakes of economics and offers a radical re-envisioning of the system that has brought us to the point of ruin. Moving beyond the myths of ‘rational economic man’ and unlimited growth, Doughnut Economics zeroes in on the sweet spot: a system that meets all our needs without exhausting the planet. The demands of the 21st century require a new shape of economics. This might just be it. *A Financial Times and Forbes Book of the Year* *Winner of the Transmission Prize 2018* *Longlisted for the FT/McKinsey Business Book of the Year Award 2017* ‘The John Maynard Keynes of the 21st century.’ George Monbiot, Guardian ‘This is sharp, significant scholarship . . . Thrilling.’ Times Higher Education ‘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 ‘A compelling and timely intervention.’ Caroline Lucas MP, Books of the Year, The Ecologist
Closely based on background studies commisiioned together with Oxfam's partners in 12 countries [acknowledgements].
The past fifty years have witnessed the triumph of an industrial development that has engendered great social and environmental costs. Conventional economics has too often either ignored these costs or failed to analyse them appropriately. This book constructs a framework within which the wider impacts of economic activity can be both understood and ameliorated. The framework places its emphasis on an in-depth understanding of real-life processes rather than on mathematical formalism, sressing the independence of the economy with the social, ecological and ethical dimensions of human life.
Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
A century ago, the idea of 'the economy' didn't exist. Now economics is the supreme ideology of our time, with its own rules and language. The trouble is, most of us can't speak it. This is damaging democracy. Dangerous agendas are hidden inside mathematical wrappers; controversial policies are presented as 'proven' by the models of economic 'science'. Government is being turned over to a publicly unaccountable technocratic elite. The Econocracy reveals that economics is too important to be left to the economists - and shows us how we can begin to participate more fully in the decisions which affect all our futures.
From Nobel Prize–winning economist Jean Tirole, a bold new agenda for the role of economics in society When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a "dismal science," is a positive force for the common good. Economists are rewarded for writing technical papers in scholarly journals, not joining in public debates. But Tirole says we urgently need economists to engage with the many challenges facing society, helping to identify our key objectives and the tools needed to meet them. To show how economics can help us realize the common good, Tirole shares his insights on a broad array of questions affecting our everyday lives and the future of our society, including global warming, unemployment, the post-2008 global financial order, the euro crisis, the digital revolution, innovation, and the proper balance between the free market and regulation. Providing a rich account of how economics can benefit everyone, Economics for the Common Good sets a new agenda for the role of economics in society.
What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.
A thrilling new route to a better society A toxic ideology of extreme competition and individualism has come to dominate our world. It misrepresents human nature, destroying hope and common purpose. Only a positive vision can replace it, a new story that re-engages people in politics and lights a path to a better future. George Monbiot shows how new findings in psychology, neuroscience and evolutionary biology cast human nature in a radically different light: as the supreme altruists and cooperators. He shows how we can build on these findings to create a new politics: a “politics of belonging.” Both democracy and economic life can be radically reorganized from the bottom up, enabling us to take back control and overthrow the forces that have thwarted our ambitions for a better society. Urgent and passionate, Out of the Wreckage provides the hope and clarity required to change the world.
This volume is the first comprehensive synthesis of economic, political, and cultural theories of value. David Graeber reexamines a century of anthropological thought about value and exchange, in large measure to find a way out of ongoing quandaries in current social theory, which have become critical at the present moment of ideological collapse in the face of Neoliberalism. Rooted in an engaged, dynamic realism, Graeber argues that projects of cultural comparison are in a sense necessarily revolutionary projects: He attempts to synthesize the best insights of Karl Marx and Marcel Mauss, arguing that these figures represent two extreme, but ultimately complementary, possibilities in the shape such a project might take. Graeber breathes new life into the classic anthropological texts on exchange, value, and economy. He rethinks the cases of Iroquois wampum, Pacific kula exchanges, and the Kwakiutl potlatch within the flow of world historical processes, and recasts value as a model of human meaning-making, which far exceeds rationalist/reductive economist paradigms.
We find ourselves at a crossroads between environmental disaster and a new industrial revolution: a shift from the ruthless exploitation of nature toward cooperation with it. Decoupling economic growth from environmental consumption is an ambitious goal, but also an achievable one. ‘Green Growth, Smart Growth’ outlines a way forward in this great transformation, and does so in the conviction that the dangers posed by climate change can be overcome through a new approach to economics, innovation and proactive policymaking.
"Visionary physicist Geoffrey West is a pioneer in the field of complexity science, the science of emergent systems and networks... Fascinated by issues of aging and mortality, West applied the rigor of a physicist to the biological question of why we live as long as we do and no longer. The result was astonishing, and changed science, creating a new understanding of energy use and metabolism: West found that despite the riotous diversity in the sizes of mammals, they are all, to a large degree, scaled versions of each other... West's work has been gaming changing for biologists, but then he made the even bolder move of exploring his work's applicability...and applied...[it] to the business and social world."--
Taking as its starting point the interdependence of the economy and the natural environment, this book provides a comprehensive introduction to the emerging field of ecological economics. The authors, who have written extensively on the economics of sustainability, build on insights from both mainstream economics and ecological sciences. Part I explores the interdependence of the modern economy and its environment, while Part II focuses mainly on the economy and on economics. Part III looks at how national governments set policy targets and the instruments used to pursue those targets. Part IV examines international trade and institutions, and two major global threats to sustainability - climate change and biodiversity loss. Assuming no prior knowledge of economics, this textbook is well suited for use on interdisciplinary environmental science and management courses. It has extensive student-friendly features including discussion questions and exercises, keyword highlighting, real-world illustrations, further reading and website addresses.
The blueprint for an inspiring regenerative economy that avoids collapse and works for people and the planet. Humanity is in a race with catastrophe. Is the future one of global warming, 65 million migrants fleeing failed states, soaring inequality, and grid-locked politics? Or one of empowered entrepreneurs and innovators building a world that works for everyone? While the specter of collapse looms large, A Finer Future demonstrates that humanity has a chance – just – to thread the needle of sustainability and build a regenerative economy thorough a powerful combination of enlightened entrepreneurialism, technology, and innovative policy. The authors – world leaders in business, economics, and sustainability – gather the evidence, outline the principles of a regenerative economy, and detail a policy roadmap to achieving it, including: Transforming finance and corporations Reimagining energy, agriculture, and the nature of how we work Enhancing human well-being Delivering a world that respects ecosystems and human community. Charting the course to a regenerative economy is the most important work facing humanity and A Finer Future provides the essential blueprint for business leaders, entrepreneurs, environmentalists, politicians, policymakers, and others working to create a world that works for people and the planet.
Like fast food, fast science is quickly prepared, not particularly good, and it clogs up the system. Efforts to tackle our most pressing issues have been stymied by conflict within the scientific community and mixed messages symptomatic of a rushed approach. What is more, scientific research is being shaped by the bubbles and crashes associated with economic speculation and the market. A focus on conformism, competitiveness, opportunism and flexibility has made it extremely difficult to present cases of failure to the public, for fear that it will lose confidence in science altogether. In this bold new book, distinguished philosopher Isabelle Stengers shows that research is deeply intertwined with broader social interests, which means that science cannot race ahead in isolation but must learn instead to slow down. Stengers offers a path to an alternative science, arguing that researchers should stop seeing themselves as the 'thinking, rational brain of humanity' and refuse to allow their expertise to be used to shut down the concerns of the public, or to spread the belief that scientific progress is inevitable and will resolve all of society's problems. Rather, science must engage openly and honestly with an intelligent public and be clear about the kind of knowledge it is capable of producing. This timely and accessible book will be of great interest to students, scholars and policymakers in a wide range of fields, as well anyone concerned with the role of science and its future.
A very clear, reliable and readable history of economic thought from the ancient world to the present day. From Homer to Marx to John Stuart Mill, Backhouse shows how to keep your Keynsians from your post-Keynsians and New Keynsians. A core book.
The world's leading economies are facing not just one but many crises. The financial meltdown may not be over, climate change threatens major global disruption, economic inequality has reached extremes not seen for a century, and government and business are widely distrusted. At the same time, many people regret the consumerism and social corrosion of modern life. What these crises have in common, Diane Coyle argues, is a reckless disregard for the future--especially in the way the economy is run. How can we achieve the financial growth we need today without sacrificing a decent future for our children, our societies, and our planet? How can we realize what Coyle calls "the Economics of Enough"? Running the economy for tomorrow as well as today will require a wide range of policy changes. The top priority must be ensuring that we get a true picture of long-term economic prospects, with the development of official statistics on national wealth in its broadest sense, including natural and human resources. Saving and investment will need to be encouraged over current consumption. Above all, governments will need to engage citizens in a process of debate about the difficult choices that lie ahead and rebuild a shared commitment to the future of our societies. Creating a sustainable economy--having enough to be happy without cheating the future--won't be easy. But The Economics of Enough starts a profoundly important conversation about how we can begin--and the first steps we need to take.
This powerful book sets out arguments and an agenda of policy proposals for achieving a sustainable and prosperous, but non-growing economy, also known as a steady-state economy. Theauthorsdescribe a plan for solving the major social and environmental problems which face us today on a finite planetwith a rapidlygrowing population. They show how we have to find ways to reverse the environmental crises, while at the same time, we have to eradicate poverty and erase the divide between the haves and the have-nots. They argue that the economic orthodoxy...