Big Ideas, Big Dreams - Kate Raworth
Economic Spotlight Series
Economic thinker: Kate Raworth
I’ve listened to many, many interviews and discussions with Kate Raworth. One thing that stands out to me is how she talks about her experience of being a student of economics. As someone who always loved nature, she was deeply uncomfortable with the discipline's approach to the impact that economic activity has on the environment. Traditional economic thinking sidelines this impact and refers to it as ‘externalities’. Something marginal, insignificant and worthy only of a footnote.
Kate went on to dedicate her time, energy, focus and so much more to changing this. She wanted us to think of our economy, not as something that can continue to grow endlessly, no matter the consequences, socially or environmentally, but in a sustainable way for the planet and for people.
Big idea: Doughnut economics
Kate’s question was how could she take the idea that an economy has environmental limits, based on what the earth’s resources can provide, as well as social obligations to provide a life of dignity for all people?
She realised that a complex idea is best communicated visually. She needed a picture, a compelling translator that would transcend language, spread easily through our countries, cultures and consciousness.
She came up with a doughnut.
Why a doughnut? The hole in the middle is what you fall through if people aren’t getting their needs met for a life of dignity, with 11 elements to consider.
The outer ring is the limit of what the earth can sustain, with nine elements to consider.
In her book, Doughnut Economics, Kate acknowledges that many indigenous and ancient cultures around the world have always had these concepts baked in. This isn’t new thinking, it’s ancient thinking that so much of the world has forgotten, burnt away by the industrial revolution and its aftermath.
Why it matters
Our economy has been built on an assumption of endless growth, fuelled by extraction of the earth’s resources with the benefits disproportionately going to too few people. As we’re finding, this isn’t sustainable.
Kate’s idea of the doughnut is an alternative economy that we can create instead, which would be sustainable for people and the planet. She takes a lot of complexity and puts it into one tidy diagram that we can all get our heads around.
How might this influence you and your work?
The doughnut gives us many elements to choose from: 20, to be precise. By selecting one or two as a focal point for our work we can all make a meaningful contribution to this idea. If each of us became really clear about the contribution we can make towards a doughnut economy, when we consider all of our contributions together, we can turn this idea into a reality and perhaps have a truly sustainable economy.
There are organisations and cities around the world testing this idea in the Doughnut Economics Action Lab community. The tools page on the website has many, many tried and tested ideas that have been shared by others across the world. One simple one that everyone can try is ‘Taking the Jump’, if you want something to get going.
Most of us would struggle in our everyday work to contribute meaningfully or directly to all of it. However, it’s entirely feasible for all of us to find our sweet spot on the doughnut, selecting one or two elements that we can contribute towards.
Here’s how it’s impacted me and my work
Kate’s doughnut was the picture I’d been missing. It was the answer to a question I hadn’t fully articulated, but was just beneath the surface for a very long time. When she published her work, it was so powerful.
It gave me a route into feeling like I could do work I enjoyed and was good at, while also contributing to creating a sustainable economy for people and the planet. I don’t have to feel overwhelmed by what I can’t do. I’m not a marine scientist who can do something to solve ocean acidity. What I can do is contribute my work to where I can make a difference. I trust that there will be a doughnut-inspired marine scientist out there too.
In my work at the moment is focused on workforce strategy and flexibility. These contribute directly, or indirectly, to these doughnut elements:
Jobs
Gender equality
Social equity
Income
Climate change
This is what fuels why I do what I do. For now, my focus on flex is the best way I can contribute, and that may well adapt and change over the coming years. Having the doughnut economy as my guiding picture means I’ll never be short of meaningful work that contributes to this big idea and big dream. It keeps me focused for the long-term, because I can see that it’s part of this much, much bigger doughnut picture.
So what now?
What is your contribution to the doughnut economy?
Is that the contribution you want to make?
How can this big idea fuel your big dream?