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For over 70 years economics has been fixated on GDP, or national output, as its primary measure of progress. That fixation has been used to justify e… - Kate Raworth
" "For over 70 years economics has been fixated on GDP, or national output, as its primary measure of progress. That fixation has been used to justify extreme inequalities of income and wealth coupled with unprecedented destruction of the living world. For the twenty-first century a far bigger goal is needed: meeting the human rights of every person within the means of our life-giving planet.
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About Kate Raworth
Kate Raworth (1970-) is an English economist, known for her 'doughnut economics' model balancing between essential human needs and planetary boundaries.
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Additional quotes by Kate Raworth
Fourth, get savvy with systems. The iconic criss-cross of the market’s supply and demand curves is the first diagram that every economics student encounters, but it is rooted in misplaced nineteenth-century metaphors of mechanical equilibrium. A far smarter starting point for understanding the economy’s dynamism is systems thinking, summed up by a simple pair of feedback loops. Putting such dynamics at the heart of economics opens up many new insights, from the boom and bust of financial markets to the self-reinforcing nature of economic inequality and the tipping points of climate change.
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