5 minutes
Donuts economy
Dr..
Alaa Jarad
Garad@alaagarad.com
March 29, 2021
We are often curious to know some information about the economy and the economic performance of countries. We often hear about national income, national product, per capita and economic indicators, whether for institutions or governments. Adam Smith’s book “The Wealth of Nations” is considered one of the most important books that laid the foundations for economics. The classic, but in the last three decades, many mutations and needs appeared, perhaps no one could have imagined them in the recent past, as the interest in sustainability increased, and governments paid more attention to meeting the needs of the people, and there was also a social responsibility on the business community and all institutions, and then the need for a framework emerged. Work and review of principles and theories of economics.
Hence the donut economy
Who among us does not like "donuts", yes, the beautiful donut cake, chosen by economist Kate Raroth, a professor at the University of Oxford, to be the title of the most comprehensive and integrated economic model than any other model, as the model takes into account all the needs of all concerned. If we imagine the circular donut cake, we will find With an internal framework and an external framework, the author of the model sought to represent the internal framework of all human needs, and laid down 12 needs, namely energy, water, gender equality, housing, networks, food security, health, education, freedom of expression, income, work, peace Justice and social equality.
As for the outer frame of the cake, it includes what the earth needs, and what protects our planet in light of scientific theories, and deals with nine central issues, which are freshwater consumption, land desertification, loss of biodiversity, air pollution, the ozone hole, climate change, ocean acidification, chemical pollution and nitrogen loading And phosphorous.
The external frame can be imagined as the ceiling that protects humanity, and in the internal framework what humans need to live a decent life in line with the sustainable development goals set by the United Nations, then in the middle, where the soft dough and protected by the inner and outer frame, there is the appropriate climate for humanity to live, and this is what Institutions and governments must work towards adapting and sustaining it.
This model has met with great success and acceptance, especially in Europe, and some countries and cities have already begun to adopt it, as it is a flexible framework that cities can adopt, and it is not required for countries as a whole, and Amsterdam, the capital of the Netherlands, was the first city to adopt this model in April 2020, especially as it is the model. The optimal economy after "Covid-19", given the great balance between human needs, and at the same time the preservation of the planet.
Al-Arabiya TV reviewed the topic of the economy of donuts last year, and noted that this is exactly what all people, cities and countries in the world must do, because only by real focus on social welfare in harmony with environmental health can we limit the spread of devastating epidemics in the future, and ensure the future A thriving economy for everyone.
• The beautiful "donut" cake, chosen by the economist, Kate Raroth, a professor at Oxford University, as the title of the most comprehensive economic model.
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Garad@alaagarad.com
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Garad@alaagarad.com