Forget GDP and embrace Doughnut Economics – An almost Nordic approach to 7 episodes…

Probably the most scary thing about life today on this earth is that most people are not reading enough, that they are willing to live off the minimum amount of information that they are being fed by politicians, media companies and lobby groups that are self-serving in their own interests.

Some many leaders in so many countries are negligent, dishonest, despots, criminals, murderers and yet we feel unable to deal with them, and our own leaders tell us that we must passively or implicitly accept the status quo, something that Transparency International is fighting against.

The result of this lack of moral courage is also seen in how we manage the Earth’s resources.

The leaders are ready to turn their back on Climate Change for political gain which which they can retain power.

This means that we see stronger storms, warmer winters, and hotter summers. Pollution in oceans, rivers and in cities is accepted as the way things are. Cars and lorries kill, antibiotics stop being effective, old people are left in wet nappies for days, and income and wealth differentials grow between an ever smaller group of rich folk and the huge 90% of the rest of the 7 billion on this solid global ball hanging in space, just 8 minutes away from the sun.

We have been weaned on Classical Economic Theory, that says that GDP growth is the panacea for all the world’s problems – pollution, overcrowding, healthcare, food production, and climate change.

But we now know that we are not able to keep on increasing ever faster economic growth; we know that the world’s population cannot keep increasing endlessly; we know that we are causing climate change and that disasters like floods, storms; and excessive heat and water and air pollution are poisoning our only home.

We even have terrible weapons that could destroy mankind in days…

GDP is not a good measure and should be replaced by a broader and more inclusive set of measures, and these are described in a new book called “Doughnut Economics” by Kate Raworth, an economist who teaches at Oxford University’s Environmental Change Institute. She also happens to be involved in the Stockholm School of Economics’ Global Challenges


FinnishNews will be reviewing her book in 7 episodes and comparing each episode with some examples of what the Nordic countries are doing with matters related to each of the episodes. The articles will be brief and interesting illustrations of why the Nordics should be regarded as small but successful countries who are out there to try to ensure sustainable and stable success over the long-term for our environment and that of this globe.

The book give a new and dramatic approach to economic behaviour and management – the word “economic” takes on its original meaning – that of being frugal with resources, instead of one meaning most people see in their mind’s eye where the banker and the industrialist are in league with the politicians for profit and gain at the expense of others and of this planet.

Site Footer