Doughnut economics: Икономически модел за 21 век? Между оспорване на икономическия мейнстрийм и нова версия за устойчиво развитие
Doughnut economics: Economic model for the 21st century? Between the contestation of the economic mainstream and a new version of sustainable development

Author(s): Radosveta Krastanova
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management, Energy and Environmental Studies, Socio-Economic Research, Green Transformation
Published by: Нов български университет
Keywords: Doughnut Economics; Sustainable development; complexity; economic mainstream; fundamentals; GDP
Summary/Abstract: Sustainable Development, as defined in the UN Commission on Environment and Development Report “Our Common Future”, has established a global normative (paradigmatic) socio-political and economic model for development. It is based on a complex approach to the crises and transformations of societies within a new planetary paradigm, called by the authors “From One Earth to One World”. Annual UN reports and numerous scientific and expert studies show that despite the stated political will of countries and businesses to follow this model, the results are unsatisfactory. A number of researchers have proposed updating the model in the context of the unfulfilled hopes of radical change since the late 20th century. Such is Kate Raworth‘s Doughnut Economics model, which challenges the neoclassical economic mainstream and offers an alternative for the thriving development of societies and economies of the 21st century, aimed not at growth and the size of GDP; but at the well-being of people and society. The article examines Raworth‘s model in conjunction with the classical concept of Sustainable Development, and assesses its relevance in the context of planetary challenges at the beginning of the new millennium.

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