The plane of economic growth took off, but where will it land?
In this video, we hear from Kate Raworth – an economist who examines the economic mindset – for the first time in the course.
In her 2017 book ‘Doughnut Economics: Seven Ways to Think like a 21st Century Economist’, Kate examines some of the fundamental assumptions behind our economic thinking today, and assesses whether or not these are valid, considering their origin and the challenges we face in the 21st century.
The main idea to take away from this video is the fact that the architects of our economic model did not have a plan for the world as it is today. Their primary concern was for the plane of economic growth to keep going higher and higher, assuming that everything else would fall into place if you get the economics right. However, we now know that this assumes prosperity to be primarily material when this is not the case. It also fails to take into account natural limits – something we will explore in more details later.
What do you think?
Can the plane fly off forever “into the sunset of consumerism”, or do we need the plane to land?
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