The doughnut economy concept was proposed by economist Kate Raworth.
The doughnut economy is an economic model proposed by economist Kate Raworth that aims to meet the needs of all people within the means of the planet. The model consists of two concentric rings: a social foundation and an ecological ceiling[1].
The social foundation forms the inner ring of the doughnut, and represents the minimum standard of living that every human should have access to, including food, water, housing, sanitation, energy, education, healthcare, gender equality, income, political voice, and more[1][3]. No one should fall into the hole in the center of the doughnut, which would mean they lack access to these basic needs.
The ecological ceiling forms the outer ring, and represents the planetary boundaries that economic activity should not exceed in order to avoid environmental degradation and maintain Earth's life-supporting systems[1]. This includes boundaries for climate change, ocean acidification, chemical pollution, nitrogen and phosphorus loading, freshwater use, land conversion, biodiversity loss, air pollution, and ozone depletion[3][4].
Between the social foundation and ecological ceiling is the "safe and just space for humanity" - the dough of the doughnut where economic activity should take place[1]. The goal is an economy that allows all people to thrive while not overshooting the planet's ecological boundaries.
Raworth argues that current economic thinking, focused on endless GDP growth, is not fit for the 21st century and will lead to both shortfalls in the social foundation and overshooting of the ecological ceiling[2][4]. She calls for a new economic mindset focused on regenerative and distributive design to allow humanity to thrive within the doughnut[2][5].
In summary, the doughnut presents a visual model of the dual goals and boundaries that 21st century economics should strive for - meeting the needs of all within the means of the planet. It has been influential in reframing debates about sustainable development.
Citations: [1] https://earth.org/what-is-doughnut-economics/ [2] https://www.cambridgedoughnut.org.uk/chapter-summaries-for-doughnut-economics/ [3] https://en.wikipedia.org/wiki/Doughnut_(economic_model) [4] https://bonpote.com/en/the-doughnut-economics-definition-and-critical-analysis/ [5] https://www.blinkist.com/en/books/doughnut-economics-en [6] https://www.linkedin.com/pulse/summary-kate-raworths-book-doughnut-economics-salvatoriello-mba [7] https://fourminutebooks.com/doughnut-economics-summary/ [8] https://www.kateraworth.com/doughnut/