To prepare for this Challenge Day, the class researched and discussed two economic concepts: “Doughnut” Economics, and the Gift Economy.
The concept of Doughnut Economics was developed by University of Oxford economist Kate Raworth. She proposes a modernized way to evaluate the economy beyond just looking at the GDP. She explains that because every part of our society is driven by continual growth, “the plane can never land.” Instead of using the GDP as the only measure of economic success, Raworth developed a dashboard of indicators called the “Doughnut,” an economic model based on maintaining balance between planetary and essential human needs. See her TED talk here: Kate Raworth TED2018 "A healthy economy should be designed to thrive, not grow"
The idea that our economy should thrive as opposed to grow is so refreshing to me. It relates to my struggle with searching for live/work balance. Instead of defining my own success by the quality of my life, I feel the pressure of the continual need to get more done to grow my worth.
The topic for our last Leadership Tomorrow Challenge Day was “Economy.” I am certainly not one to claim that I understand all the ways our economy works, but I do have a basic grasp of the fact that our capitalist system is based on exploiting land, mineral, petroleum, forest, animal, and even human resources to create wealth. I can also appreciate that it is easier to make and hold on to wealth once you have it. In a capitalist society, money is power. Put in the context of race and equity in America, it is easy to see the history of the use of a capitalist economic system to influence the power of whites in this country. Over the past few decades, we have seen an increasing number of government policies that are widening the economic gap, shifting a disproportionate amount of wealth and power to fewer people, most of whom are white.
The topic of “Economy” is directly related to all other topics we have studied - Neighborhoods & Communities, Basic Needs, Healthcare, and the Environment. As I do with all the previous topics, I believe we can evolve our thinking around the economy to better serve the entire community more equitably.
To prepare for this Challenge Day, the class researched and discussed two economic concepts: “Doughnut” Economics, and the Gift Economy.