Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist

by Kate Raworth

First, by providing public goods—ranging from public education and healthcare to roads and street lighting—that deliver for all, not just for those who can pay, so enabling a society and its economy to thrive. Second, by supporting the core caring role of the household, such as with maternal and paternal leave policies that empower both parents, investment in early-years education and care support for seniors. Third, by unleashing the dynamism of the commons, with laws and institutions that enable their collaborative potential and protect them from encroachment. Fourth, by harnessing the power of the market by embedding it in institutions and regulations that promote the common good—from banning toxic pollutants and insider trading to protecting biodiversity and workers’ rights. Like all best supporting actors, the state may also step centre stage, taking entrepreneurial risks where the market and commons can’t or won’t reach.