Can Doughnut Economics Solve Our 21st Century Problems_

Growth

The focus on increasing economic output and expansion of the global economy.

Income inequality

The unequal distribution of income among individuals or groups in a society.

Environmental problems

Issues and challenges related to the natural environment, such as climate change and pollution.

21st century economic mindset

A modern approach to economics that takes into account the unique challenges and needs of the 21st century.

Doughnut economics

A visual framework for sustainable development introduced by economist Kate Raworth, shaped like a doughnut with two concentric circles representing the social foundation and ecological ceiling.

Social foundation

The inner circle of the doughnut framework, representing the space where people have access to necessities such as clean air, food, water, sanitation, housing, energy, education, social equity, and gender equality.

Ecological ceiling

The outer circle of the doughnut framework, representing the environmental boundaries that should not be exceeded to avoid irreversible damage to the planet and its resources.

Doughnut hole

The space between the social foundation and ecological ceiling where humanity can thrive without exceeding environmental limits.

Planetary boundaries

The nine environmental boundaries put forward by Earth system scientists, which, if exceeded, can destabilize the Earth and cause irreversible damage.

Self-interest assumption

The belief that individuals act in their own self-interest, as introduced by Adam Smith in his book "Wealth of Nations."

Mega corporations

Large and powerful corporations that have significant economic and political influence.

Rationality

The assumption that individuals make decisions based on perfect information and careful calculation of costs and benefits.

Gambling

Engaging in games of chance with the expectation of winning, despite statistical probabilities.

Circular flows of income

The economic cycle where households provide labor to firms, receive wages in return, and use those wages to buy goods and services from firms.