Why it's time for 'Doughnut Economics' | Kate Raworth | TEDxAthens

This talk was given at a local TEDx event, produced independently of the TED Conferences. Economic theory is centuries out of date and that's a disaster for tackling the 21st century's challenges of climate change, poverty, and extreme inequality. Kate Raworth flips economic thinking on its head to give a crash course in alternative economics, explaining in three minutes what they'll never teach you in three years of a degree. Find out why it's time to get into the doughnut...
Kate Raworth is an economist focused on the rewriting of economics to make it fit for addressing this century’s realities and challenges. She is the creator of the doughnut of social and planetary boundaries which, since being first published by Oxfam in 2012, has gained widespread international recognition and influence in reframing sustainable development, including shaping the United Nations’ post-2015 Sustainable Development Goals. She is currently writing Doughnut Economics: seven ways to think like a 21st century economist, to be published by Random House in Spring 2016.
Kate is a senior visiting research associate and lecturer at Oxford University's Environmental Change Institute, and a senior associate of the Cambridge Institute for Sustainability Leadership. She has presented doughnut economics widely - from the UN General Assembly to the Occupy Movement - and her writing has featured in The Guardian, The New Statesman, Resurgence, Nature Climate Change, and Wired. She has been named by The Guardian as “one of the top ten tweeters on economic transformation”.
Over the past two decades she was senior researcher at Oxfam, co-author of the UN Human Development Report, and a fellow of the Overseas Development Institute in Zanzibar. She holds a first class BA in Politics, Philosophy and Economics and a MSc in Economics for Development, both from Oxford University.
Kate blogs about Doughnut Economics at www.kateraworth.com and tweets @KateRaworth.
About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

[@pusteblume6478]

I don't understand why this talk doesn't have millions of views!?! It's one of these talks that fundamentally changes the way you see the the world. Thank you, Kate Raworth!

[@jarrah580]

Probably because it makes no sense to an actual economist, she dropped out of economics and it shows. Econ is supposed to be broad-scale (especially what they teach at uni), what she says is "what mainstream economists think" is way too basic and/or just wrong, unpaid work isn't some overlooked part of the economy, it is the same as paid work just not paid with money etc.. She just doesn't know what she's talking about because the dropped out, if she didn't she'd realise that we talk about these exact things in most econ courses at most universities. All good though no one's perfect

[@nielsnable]

@@jarrah580 Huh? Kate Raworth literally has a BA and an MSc in economics. She knows what she's talking about.

[@mariaeduardadefreitassales2490]

I am a kid and I am watching this!I absolutely love it! We should start thinking about a solution for the problems we created. Change the way you think! We are in the twenty first century, stop thinking like you were living one hundred years ago. What are you giving importance to? What are you spending your money on? What are you supporting? This are questions we should be asking ourselves on a daily life!

[@anchorageccl7081]

Yes!! You get more of what you focus on. So, let's focus on the doughnut.

[@BrysonKeenan]

Look for Herman Daly’s work as well...

[@anchorageccl7081]

This is one of THE best talks I've heard. Kate Raworth has changed the way I view the economy & Earth's boundaries & development forever. Thank you.

[@sujata8957]

As a student of economics, she really did just transform my view.

[@djStrimmer]

I’m sorry you are studying the pseudo quack science aka economics

[@akaPyroXx]

Right now its 2018 and I'm German student. While I watched the video I've got goose bumps! What Kate Raworth says is true and she changed my way to think.

[@aerobique]

check mal peter joseph aus, ernsthaft__

[@gamaro74]

I've just discovered it! It makes so much sense in the world we live in today. The idea of growth, of infinite growth, is so detrimental when we see our unbalanced world caused by it. I want a doughnut!

[@mrjonno]

Leaves me in tears every time. Because I care and Kate really cares to have thought about the issue.

[@djStrimmer]

Save your tears. Caring doesn’t really help much. And you can walk away from economics just as we can stop caring and be happier ! 🙏 instead of caring buy a house with a garden & plant all the things you like & want.

[@maxbroughton9713]

For everyone who’s mindset has changed from watching this video, I implore you to share it to friends and family. Only by spreading this idea will we see change.

[@StephanieL180]

Excellent lecture. Economics has become far too detached from its roots as a sub-field of moral and political philosophy.

[@fallinginthed33p]

Stephanie L Economics not as a science, but more as quantified ethics - or religion with accounting. It's time society stopped thinking we operate in a vacuum. We're all a part of this ecosystem.

[@marvanbee]

Kate you are a wonder. I'm so glad to have watched your talks and can't stop sharing them. Thanks for being brave enough to pursue your ideas and passions.

[@fromar95]

“Governments have historically opted to tax what they could, rather than what they should, and it shows.” ― Kate Raworth "Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist"

[@PeterBrodie]

Absolutely brilliant! Surely anyone who sees this and understands it would be sharing it FAR AND WIDE! I shall!

[@chrisyates2591]

Thank you Kate. Together we must change our world in the interests of all and not a powerful few.

[@UPCSE]

Genius! Such an inspiration and a visionary, Kate!

[@choffee]

This makes so much sense. I like the idea that our cabinet ministers or even world leaders would have to sit around this diagram as they carve up the profits of a countries wealth for their rich friends.

[@gabyromm4173]

WOW!!! This must be published everywhere!!! I just seen it in my Uni lecture and it's a jewel

[@karenbean271]

I’ve read her book and watched this video several times over the years. I would have thought she would be a household name by now and doughnut economy would be in the public lexicon.

[@vegandolls]

It's actually very naive and ridiculous. She says nothing really. She basically said, 'What if we had world peace, ya know? that's what would be good'. Like.. cool idea. are you 10 years old? The public lexicon. ...pffffft you're funny. Karen is a perfect name for you

[@gracekamweru173]

These are avant garde ideas that every professional and policy maker needs to understand! My background is in the built environment (landscape architecture, urbanism, environmental planning) and I testify that this kind of reasoning is so timely. Its 2021 and global economies need to embrace circularity asap if we are to reverse the current planetary and environmental crisis we are in now.

[@rajusaw509]

One of the best talk i have ever listened. It is really an eye opener and bound to change all the economic models that economists and policy makers have been using to drive economic growth. Thank you very much Kate Raworth!

[@MiliGBeautifu1]

This is really fantastic and impressive to my understanding of sustainability!

[@dawnmclean9441]

Thank you Kate - you are a light of hope for a better way forward in economics...

[@jodiethompson8619]

Kate articulates everything I've been thinking but couldn't get across to people look at me like I'm crazy. Thank you Kate

[@kamalweerapperuma2429]

Excellent presentation! A badly needed approach to deviate from GDP growth at any cost.

[@mariannelim8064]

This talk is incredible! I'm so grateful to my Development and Economics teacher for sharing this :>

[@hermanfolkesson]

Viktiga och inspirerande råd för att undvika klimatkollaps

[@vaishaliajmera4172]

Superb...its high time...Not just thinking and liking....we need action and authority should be moving with this.. This pencil change is needed in every subject and not just in Economics.

[@JengPJuan]

Wow the real economist with a heart!!! Thank you very much Kate!!

[@honghonglouisa822]

Thank you so much for giving such an inspiring speech. I only watched this for three minutes and I can’t help but appreciating your effort in delivering this speech. It amplifies my understanding of fundamental economics and sheds light on new modern issues that are ignored by economists. Brilliant!

[@kaftanboy3054]

As a young economist we have to think 🤔 the way this mother economist is talking about

[@linuscat]

Excellent critique of the limitations - and biases - of contemporary economics. A discipline so out of date it advises students to ignore the events of the last ten years.

[@The_Scouts_Code]

should we ignore calculus because it doesn't contain vitamin B?

[@Alphacentauri819]

MyLifeForAuir87 terrible, tone deaf, analogy 🙄

[@IndyIndie59]

Brilliant talk. Most inspiring - I think this should be force fed to all politicians, economists and those who dabble in the art of teaching/learning economics.

[@diptidixit4]

I here after Marie Forlio interview… anyone else? Now the time has come… people are already using it… Great work 👌👌👍👍👏👏👏

[@pedrohenriquecarneiro904]

Amazing speech! Amazing presentation! I really loved it.

[@matthewmalpeli]

This lecture is tragically under watched.

[@olexpono]

The book is seriously great :)

[@yodamaster202]

Probably because of the speaker's misandria?

[@volkanozkose5632]

Mate this is really serious. I mean reality real...

[@garger-d]

That was my first thought as well :/

[@matthewmalpeli]

@@yodamaster202 Have you gotten over your stupidity yet?

[@petermorris5808]

This is the kind of thinking we need to save the world. We are not going to be populating other planets - this one is perfect for us. The idea of greed has only been around for a few millenia perhaps and out of control greed since the last century. Up to a few thousand years ago, humans cared for each other in total, as societies and that is the kind of social programming which is needed for us to survive as a species and for our planet to survive as well. We have to be thinking of economics and the planet in this (or a similar) way. Kate Raworth is a great thinker.

[@RossSimmons]

She is on to something huge but the traditional economists selfishly don't want us to know it, and they still have that power. Oh Amitabha please cause the dharma and all good fortune to flourish. 🙏🏻

[@anna.t._7224]

Read the book it was brilliant, I highly recommend.

[@rutgermuller]

Thank you. Very inspiring.

[@bellaolabisi3999]

Amazing! succinctly delivered

[@gdinunzi]

Brilliant airtight arguments. Very well done.

[@annamohase380]

such passion ... really awesome talk

[@fatimacampos5207]

Thanks,Kate! Completely agree! A challenging situation to transform the current paradigm of developing and growth. I took my pencil!

[@rundle19938]

Nice ideas and very difficult to get details into a 16 minute talk so I assume her economic theory and evidence are in her new book. She is definitely covering similar ground as E. F. Schumacher did in the 70s.

[@miaritz3761]

BRAVO, love it

[@richardventus1875]

Kate - Excellent - thank you so much. I agree with everything you have said. Your 'higher ambition' needs a new type of leadership and leader. The traditional highly objective/money driven/military style of leadership is increasingly damaging the planet and everyone on it. What we need to do is move to a new paradigm of leadership which rewards everyone rather than those just at the top of the tree. I have advocated Transpersonal Leadership for many years now for the reasons you give, but the 'elite' don't want it as it doesn't fit in with their desires from egotism and greed. I have a contact with one of the world's leading experts on Transpersonal leadership - if you send me a reply I'll pass on their details.

[@JinghaoTong]

In her book, Kate mentioned the keyword of "balance" and used a picture of traditional Chinese philosophy picture of Yinyang. I can understand her effort of encouraging people to think the whole picture. While in 1840, when Queen Victora decided to have a war to protect the benefit of opium business in China, they didn't care about the health condition of Chinese and only focused on the profit of opium. The book "Inglorious Empire" by Indian former Minister also mentioned the British destroyed the industry foundation of India and produced opium there. My point is, "Doughnut Economics" cares about the environment more than the GDP now. It's a new rule to play the economic game. While with the help of history, maybe we can learn about that some tragedy of countries just because they didn't have the strong economic and lost the freedom of development? Could the new theory become the weapon to keep the developing countries poor? Because if they want to develop their economy in a western way: damaging the environment, they have to pay the tax for the developed countries in the future? Limited by the technology, the developing countries have to choose between low-speed-development and damage-environment-development. If they have to buy the high-tech from the developed countries or pay the bill of damaging the environment. It could be another robbing of 21 century with the perfect theory.

[@muhammadbabur1101]

Love this talk !

[@waffledao]

OMG just seen the video cause Holland are actually using her donuts !

[@sempreclarice]

Hey, Ly! In what way they are using it? Would like to read something about this case :)

[@ThatBIMGirl]

Clarice Nilles try looking up “circular economy Amsterdam“ .. it’s pretty cool! They want to be the first city to be completely circular. No more waste of anything from water to energy to goods

[@nthperson]

The wellbeing of every single human being (as well as other species of animals and plants) depends on one fundamental change in how we are organized. We must treat the planet as our Commons. We must then allocate private control over any portion of the Commons by competitive bidding under a leasehold arrangement rather than the issuance of deeds suggesting any individual or entity is an "owner" of the Commons. The annual payment -- a rental payment -- would go into the common fund out of which we pay for democratically-agreed upon public goods and services. This systemic change has been called for by thoughtful people for centuries. Read anything by the 19th century political economist Henry George for clear insight into why this is so necessary and how it would work to change the course of history.

[@hl200]

Thank you! I love it!

[@TheBoris777777]

What an important talk!

[@PatriciaGrilli]

Fantastic!

[@vincenzollamas]

very Buckminster Fuller, good stuff

[@alexanderscott6332]

The difference between Kate and those in power - she's not a sociopath.

[@vegandolls]

she's also not intelligent

[@belgiumgamer290]

DIKKE so deze video is zeer leuk en leerrijk ik zou graag edgen op gilles schollier

[@jh5401]

One minute in, and she is explaining exactly my high school class on economics, too. Yeesh.

[@aaronnebauer6046]

Brilliant talk! Because politicians tend to think in short-term election cycles, I wonder of 'we the people' need to hold the long-term view and stay the course?

[@yellowbird5411]

I wish this were taught in high schools and colleges instead of some of the courses they are teaching now.

[@caitlinkawalek989]

Too brilliant. I adore her.

[@theicyridge]

One of the very best talks.

[@shumeyetessema7028]

The lecture is interesting indeed. The wellbeing of human being at the center of all economic strategies and policies at all level (micro & macro) is really a wonderful idea which could considerably mitigate the existing misery of mankind by promoting economic justice and creating harmony between nature and economic growth endeavors. Welfare economics has been the thinking of many Economists of the past and the contemporary; however, the problem has been and still is the greediness of human nature which always makes money rather than human at the center. The utopian economists have dreamed of terrestrial paradises which failed to come true. Good luck with ‘Doughnut Economics’ and rewriting economics.

[@GeaVox]

I think you'll find that 'human wellbeing' is not actually the centre... planetary wellbeing is what aLL creatures' wellbeing depends upon.

[@putzak]

Absolutely spot on

[@TahminaKhanTithi]

I am amazed

[@seautentico9565]

Tengo demasiado interés en el tema

[@owiny1954]

Please send me the donut sticker, I am definitely joining the campaign.

[@diegochinsan]

Please, subtitle in Spanish. So we can use this extraordinary talk in our High Schools in Spain and Latin America.

[@professorprodromal4419]

she has a book in audio as well as paper I hope it has more practical advise. Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist

[@waenga23]

Is it this just sounds like socialism or communism

[@suedaly4056]

Just as relevant, if not more so, in December 2021 as it was when Kate Rawson spoke. Did they consider this at the COP talks?

[@filmmakingforchange]

Inspiring

[@aliasifchowdhury3419]

May God bless you and your mindset.....may God bless your economic theory....I don't need to say it....but don't stop and spread it as far as you can....the only thing in existence with no limits is the mind's extent of imagination

[@saragiitaflores3609]

This gives me hope.

[@GuardianesdelaTierra13]

Buenísimo el vídeo! Para que sirve el dinero si nos estamos acabando el planeta! No hay plan “B”

[@thanglee2345]

omg thank you

[@paulkamill2119]

Great lecture! Absolutely fundamental for ALL of us. I just wish the camera would stop jumping every five seconds!

[@volkanozkose5632]

I think she is The Super Woman. Keep her away from Kripton because we need her live for ever and ever ?...lol

[@yulig9486]

MASTER PIECE

[@danielmartinlluptonpaulino312]

hi, can anyone tell me what were the weakest points of this conference? please

[@dhiyaneshsivakumaran9201]

Queen ❣

[@lizlewis665]

If you watch one thing watch Kate Raworth on donut economics - this one

[@mahimnajoshi950]

Revolutionary

[@HalimaBrewer]

I have her book and 2 others which help a lot to understand where we are are what we have to do. Ha Joon Chang's "Economics. The Users' Guide" and Yanis Varoufakis' "Talking to My Daughter About the Economy" Both are as readable as a good novel and both are so very useful. Kate's book is with them.

[@aurelioldc]

Please, have a look at "Creating an Economy for the Common Good" by Christian Felber, he directed me here through a tweet. Time to join forces, MUCH can be done and much is BEING done!

[@Artnotforthesakeofart]

THIS should have billions of views on KZbin, not 'Baby Shark Dance' & 'Despacito'

[@andrewcampbell1505]

Prigogine - W Brian Arthur - complexity - reality - ... A very REAL view imho.

[@smartiepancake]

Raworth takes the Labour-Capital model of neo-classical economics as her starting point. A much better starting point is the Land-Labour-Capital model of classical economics. With this model you quickly arrive at a very simple answer - Henry George's Singe Tax, a single reform that would fix just about everything.

[@nthperson]

Not all economics fit the description painted here. The number who do not is small, admittedly, but they have provided a remarkably insightful analysis of how the world really works. Who is on this list? Read Mason Gaffney's "After the Crash" or Fred Harrison's "The Predator Culture" and other books.

[@volkanozkose5632]

I think i am in love ...

[@ivoneambientalista]

Como brasileira sofro em ver Amazônia sendo queimada,a fome que grita pelas ruas do Brasil afora,...mesmo assim ha esperança neste novo governo a partir de 2023.

[@staresce]

Ms Raworth, what is your opinion on overpopulation and it's affect on economics and the environment?

[@1farin]

I need to write an essay on this, other than that interesting video.

[@brittdragstra7865]

This should be taught on schools. Why is it possible we are still only learning about the 'old' outdated economic thoughts?

[@MrHarveyrex23]

Google algorithms on my KZbin search engines are delivering me all these videos

[@pijusmandal7306]

Brilliant talk ! Very inspiring and deep insightful ...

[@awol2602]

some people are really quite critical of this timely talk in favour of social/economic justice. Wonder why do I have the hunch they must be very comfortably well-off people themselves ?

[@gonzaloperez816]

Subtitulos en español por favor saludos cordiales

[@thomasgt9933]

I don't think anyone would be against a more environmentally friendly economy. It is just the large cost that comes with it, these oils companies have been aware for decades about the global impact fossil fuels have on the environment. They haven't done anything about it because they are greedy and they don't care because the general population hasn't called them out for it either.

[@amandaharig1978]

The large cost is the maximum ring, my friend. It's all here, she is an excellent orator and returns to those central tenets often.

[@bxbank]

No empowered political/social change will happen until we use currency models without any usury: no tax, fees, costs or interest. Only then will we move to trust-based collaborative economics and achieve the empowerment all people are looking for.

[@seautentico9565]

Subtitulos en español por favor

[@claudiabarbosa2563]

os especialistas que, como Kate Raworth e o professor Yunus -entre outros- querem um mundo melhor poderiam participar de mais congressos juntos (como o que será realizado pelo Vaticano no final do ano - a economia de francisco) para tentar convencer o mundo da necessidade de uma Nova Ordem econômica que seja justa socialmente, economicamente e ecologicamente. e o termo para essa nova ordem pode ser SUSTENTABILISMO

[@10017akv]

Unfortunately, there are too many people that will exploit the well intentioned efforts. It sucks that we cannot understand how we can ALL move forward together.

[@renategranitzer923]

I know. On the other hand, those who "exploit" these efforts can serve as the thriving force not to rest to soon ;)

[@GR-mx8kq]

Convincing. A bit ranty .... but she's not wrong. Yet here we are, 7 years later. Some policy change in offing (e.g. EVs), but rather more economic BAU plus enormous chickens coming home to roost. The conventional route for change is that the hearts and minds alert pollsters, this leads to focus groups, then crafting of policies, then votes. Better hope the hearts and minds keep changing.