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Economies have traditionally focused on obtaining economic growth. Across the last number of decades however, we’ve come to realise that if we revolve our societies around concepts which don’t consider the natural world, these societies will face ecological collapse, which will subsequently mean the end of our species. Essentially, donut economics is the idea that we can meet the needs of all, within the means of the planet by replacing the goal of economic growth with a balance between ecological and economical focus.
In a recent edition of TIME magazine I discovered the interesting concept of “Donut Economics”. The article, written by Ciara Nugent, focused on Amsterdam and their attempt to bring donut economics to life.
The logic behind the donut is relatively straightforward, it represents the sweet spot in which humanity can operate. No member of society should be left without the daily needs (contained inside the donut) such as food, water, housing, energy, education. While the concepts outside of the donut refer to areas in which we have already overshot, putting pressure on the earths finite resources causing climate change and the breakdown of bio diversity, and cannot afford to continue.
The article in TIME argued that what we do on this earth for the next 50 years has the potential to shape the next 10000. With donut economics, we may be on the path to a sustainable existence.