We can't accept infinite growth on a finite planet. The more an economy grows, the more resources are used, and the more carbon and methane is emitted into the atmosphere, leading to more frequently occurring and more extreme climate changes. We need new models of economics that place value on people and the planet, instead of valuing profit. Here is one such potential solution.
Doughnut economics - created by Kate Raworth - throws out the focus on infinite growth and re-frames economics within societal needs and environmental boundaries. Essentially, it is economics that has been reworked into:
* What is needed for all of society to be healthy and happy?
* How do we meet those needs without harming the planet?
The Doughnut Model
Doughnut Hole: Within the centre of the model are basic needs that aren't being met. The hole is essentially a societal shortfall. The doughnut model focuses on removing people from the hole and bringing them to the inner ring, where all basic needs are met.
Inner Ring: Establishes a societal foundation of essentials that are required for a healthy life including; access to clean water, sanitation, food, safe housing, education, health care, a political voice, and equality.
Outer Ring: Represents the "ecological ceiling" and highlights the boundaries of the earth's capacity to continue providing resources and a stable climate.
Doughnut Overshoot: Any ecological impacts that go beyond the established "ecological ceiling: are considered an overshoot that will have detrimental impacts on the stability of environmental and societal safety.
HUGE NEWS! In the week of April 12, 2020, Amsterdam announced the adoption of the doughnut economics model, to help the city in economic recovery, post COVID-19, placing the health of people and the planet at it's heart. THIS is exactly how all people, cities, countries, etc. need to be moving forward. Because it’s only through a GENUINE focus on social justice, COMBINED with environmental justice, that we can limit climate change.