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Restructuring Economic Growth

Kate Raworth's Talk on the Economy Criticizes Its Growth Model

— May 16, 2018 — Keynote Trends
Kate Raworth — a renegade economist that is passionate about exploring contemporary mindsets in the context of social and ecological necessities, delivers a talk on the economy of the 21st century, highlighting challenges and offering a likely solution in light of her self-designed Doughnut Economics.

The keynote is centered around the theme of growth. Kate Raworth identifies the basic direction of progress as forwards and upwards across all fields. However, she argues that in light of the economy, that needs to change if humanity is to survive. The speaker brings to the audience's attention that not only do our economies "expect, demand and depend upon unending growth," we as consumers have also become "financially, politically and socially addicted to it." Kate Raworth argues that in order to counter poverty and the environmental crisis, we need to restructure our economy "so that [we] and the rest of nature can thrive."

The speaker elaborates on her self-designed model of economic prosperity that necessarily fosters advancement in the ecological and social sectors. She displays a graphic of a doughnut-shaped diagram. The center is occupied by people in need of life's essentials and the mission is to help in bringing them to the green ring of the diagram, while still striving to not overshoot our collective resource use — as exhibited by the third ring. This is the ecological ceiling.

During her talk on the economy, Kate Raworth envisions the green ring as the "sweet spot for humanity" and for the doughnut diagram to be a theoretical proof of an economy that can be regenerative and distributive by design with the help of technology and innovation.